Farrell Heyworth says ..

Property Oracle says ..

This seven-bedroom mid-terrace property in Morecambe, Lancashire, presents a unique opportunity but requires significant consideration. The property’s main advantage lies in its location near the Harbour, offering proximity to local amenities, schools, and transportation links. The nearby train station facilitates travel to Lancaster and beyond. Several schools, including West End Primary, are within walking distance, adding family-appeal.

However, the property is in extremely poor condition, requiring almost complete renovation. The images depict significant structural damage, outdated fixtures, and considerable wear and tear throughout. Buyers need to budget for extensive repairs and upgrades, significantly affecting the overall cost.

The small, underdeveloped rear yard doesn’t offer much garden space. The listed price of £120,000 might appear reasonable in Morecambe initially, given the number of bedrooms. However, the extensive renovation needed necessitates a thorough cost analysis, including labour and material costs. Considering the work needed, the overall price is neither outstandingly low nor overpriced compared to comparable properties in the area. The lack of information on recent transactions and comparable properties of similar size and condition in the immediate vicinity hampers a definitive assessment of the list price. It’s recommended to conduct a thorough structural survey before committing to the purchase and to factor in a substantial budget for renovation.

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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