Harris-Shields Collection says ..

Property Oracle says ..

This property in Bridlington, East Yorkshire, is a block of ten one-bedroom flats currently generating significant rental income. The location benefits from proximity to Bridlington town centre and railway station. However, the property requires significant refurbishment and modernisation. The kitchens and bathrooms appear dated and require updates. The bedrooms and communal areas also show signs of wear and tear and require cleaning. The property’s layout appears quite basic, which is typical of older conversion properties.

The exterior appears functional, however photos suggest the property is in need of some repairs to the brickwork. The shared yard space is small and the lack of private outside space is a notable drawback. While the current rental income may seem attractive to investors, potential buyers should factor in the costs of refurbishment and modernisation to make the property more appealing to tenants and increase its long-term value. The overall condition significantly impacts the property’s worth. A comprehensive survey is highly recommended before committing to purchase, to ascertain the extent of any necessary repairs and renovations.

The absence of detailed information on the average price per square foot for comparable properties in the area makes it difficult to definitively assess the reasonableness of the asking price. Further research is needed to compare it to similar investment properties in the Bridlington market.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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