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🏡 Reno Opportunity: £60k Newton-Le-Willows 3-bed terrace

30%+ ROI potential

Author

Reno Hunter
January 08, 2025

Hello and welcome to today’s edition of The Reno Hunter newsletter! Today, we’re in Newton-Le-Willows in Warrington, looking at an opportunity to pick up a semi-detached terrace with some really strong comparables.

With a sale projection of £120k+ after renovation, this property would suit those with budgets of around £100k looking to get a flip bargain at auction.

The Property 🏡

  • Address: Wargrave Road, Newton-Le-Willows, WA12 9QZ

  • Agent: Fraser Reeves

  • Listed Price: £60k Auction Guide Price

  • Comparable Sale(s): £130k+ 

💡 Why We Like It 💡 

  • Strong comparables

  • Motivated seller (down from £135k)

  • Excellent commuter transport links

  • Likely good reno-ready condition

Challenges

  • Likely going to auction this/next week so need to be quick with cash only

  • Foam insulation in roof so un-mortgageable (cash only)

📊 Running The Numbers 📊

Here’s how the numbers stack up:

💰 Cost to Buy 💰

  • Purchase Price: £60k

  • Stamp Duty (SDLT, assuming second home): £3k

  • Legal Fees: £2k

  • Total Cost to Buy: £65k

🔨 Cost to Refurb and Hold 🔨 

  • Refurbishment Budget: £15k - however may require more to replace foam loft insulation

  • Monthly Mortgage Payments: This is a cash only option due to the above point

  • Total Refurb and Holding Costs: £15-£20k

💷 Cost to Sell and Revenue from Sale 💷 

  • Projected Sale Price: £120k

  • Agent Fees: £2k

  • Legal Selling Fees: £2k

  • Total Selling Costs: £4k

📈 Summary 📈 

  • Total Costs (Buy, Refurb, Hold, and Sell): £89k

  • Profit: (Projected Sale Price - Total Costs) £31k

  • ROI: (Profit / Total Costs) 34%

🛠️ Renovation Plan ⚒️ 

To bring this property to its full potential, here’s what’s needed.

The refurbishment budget of £15,000 includes:

  • Structural repairs (if required)

  • Cosmetic upgrades (painting, flooring/carpets, fixtures)

  • New kitchen and bathroom required

  • Curb appeal improvements (garden, exterior painting)

Doesn’t include budget to replace foam roof insulation.

Total Estimated Refurb Costs: £15-£20k

🔮 How it could look 🔮 

Before 🏚️ 

After?? 🪴 

💡 Final Thoughts 💡

This investment offers the opportunity to achieve a 29.03% ROI if acquired around the auction guide price of £60k.

This is going to auction this week so be quick if you want to capitalise on this opportunity.

Until next time…

Happy hunting,
The Reno Hunter Team

👉 Looking for renovation inspiration? Check out before-and-after renovation ideas on Instagram.

Disclaimer:

All projections are based on provided data and are subject to change. Always conduct your due diligence before proceeding with any property investment.