4 Pond Green Way, Parr, St Helens, WA9 3SP
Building design/construction. This house (and the whole estate) was constructed of no fines concrete. Not an ideal form of construction but there are no serious problems with it. The main problem is the thermal insulation of the original external walls but this has been rectified by the addition of insulation to the external walls a few years ago. For more information see http://www.boltonsurveyors.org.uk/Wimpey.html
Accommodation and facilities : 3 beds, full gas central heating and double glazing; drive to front, garden to rear.
Condition. Fairly good condition: no major works required; very little maintenance has been required from the landlord over the last 20 years. The tenant has not given any attention to the interior of the property so the internal decoration and appearance etc is poor.
Rent/tenancy: The tenant has an assured period tenancy which means security for life at a market rent. The current market rent being paid is £4,210.
Quality of location: The Parr estate was originally built for rent to coal miners so there are still many retired miners and some who have bought their houses and improved them. Some houses have been improved with grant aid. There are also a lot of unemployed persons on the estate and a lot of neglected houses so in summary, it is not the best but not the worst re the houses and their residents.
The guide price is £30,000, but my valuation is £37,500 which would give a net return of 9% after deducting an estimated 20% for repairs, insurance and management costs. It will go for more if investors are happy with a lower return.
Rob Slade 8th December 2015