Bond Wolfe says ..

Property Oracle says ..

This property, located on Clement Street in Accrington, Lancashire, is a mixed-use building currently listed for £50,000. The listing describes it as a freehold, part-let, part-vacant property with a current annual income of £10,800. The images show a building that appears aged and in need of some repair or renovation. The exterior is a mix of brick and stone, showing signs of weathering. The property appears to have limited land surrounding it, with no visible garden or substantial outdoor space.

The property’s location offers some advantages; there are several schools within a short distance, as well as train stations providing links to other parts of the country. However, the specific area’s desirability may be a factor for potential buyers. The provided information shows that the nearby properties are of a similar age and style, with varying prices reflecting the condition and features. The lack of specific details about the internal layout and size of the property, including the precise area in square feet, makes a comprehensive evaluation challenging.

Considering the property’s age, condition, and location, the asking price may represent fair value, given its current income generation. The sale via public auction may affect the final selling price, leading to either a significant discount or an unexpected price increase, as this process brings in a larger pool of competitive buyers. Potential buyers should conduct thorough due diligence, including a full building survey, to assess the extent of any necessary repairs or renovations before making an offer.

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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