A vacant auction terrace with two possible exits: refurbish and sell, or refinance and hold. Both rely on an unverified £155,000 value, £49,500 of works and development-finance figures that are not yet reconciled.
The property. A vacant leasehold terrace near Walkden station, McHugh & Co Lot 33, online auction 21 October 2026. The auctioneer lists three first-floor rooms; the bedroom layout is not yet confirmed. No floor plan was published. Intended use: refurbish, then sell, or refinance and let.
Both investment scenarios remain unverified. These are modelled figures from the Sourced deal calculator (development-loan version, 15 October 2026), before tax. The development finance in that model is not yet reconciled.
Purchase, refurbish and sell at a modelled £155,000.
Development finance not yet reconciled, so these figures are not ready to support a bid.
Refurbish, refinance and retain as a rental property.
Cash recycled at refinance, and any capital left in, not yet verified.
Fees. The £4,000 sourcing fee and £1,500 auction buyer fee are included in the source model. Complete acquisition costs and tax still need checking.
| Sale price | Modelled profit | Return on cash |
|---|---|---|
| £155,000 | £44,439 | 164% |
| £139,500 | £28,939 | 107% |
| £130,000 | £19,439 | 72% |
| £124,000 | £13,439 | 50% |
Return on cash is modelled profit divided by the £27,046 investor contribution, before tax. These are sensitivities, not forecasts, and assume every other model input stays the same.
Confirm the lease, ground rent and title.
Verify bedroom layout (auctioneer lists three first-floor rooms) and the building's condition.
Survey and get the works quoted.
Check sold values and comparable rents.
Reconcile acquisition, development loan, refinance and sale costs.
Agree any maximum bid only after this review.
Investment status: further due diligence required
McHugh & Co, Lot 33, online auction 21 October 2026: guide £40,000+, leasehold, vacant, with photos. No floor plan was published. The photos are undated, so condition is checked at a viewing.
No. 31 £160,000 (Jul 2025), No. 30 £162,000 (Apr 2025), No. 49 £150,000 (May 2026), No. 52 £120,000 (Mar 2026). These are not condition- or size-adjusted comparables.
The Sourced deal calculator, development-loan version agreed on 15 October 2026. Its development finance is not yet reconciled. Ask for a copy below.
Photos from the auction listing (McHugh & Co).
Still outstanding: the lease and ground rent; the auction legal pack; the bedroom layout; a survey; costed works; adjusted value evidence; rent evidence; development and refinance loan quotes, fees and cash recycling; and a maximum bid. Disa is collecting these. Items marked Coming soon will appear here, on this same link.
