Crichie Circle, Inverurie: a Scottish flat that stacks

The valuation, and every comparable behind it

25 of 99 pulled comparables drove the valuation, with a matched median of £128,500. The price per square foot cross-check implies £131,760 for this floor area.

This valuation is based on 26 recently sold properties near this 2-bedroom Flat (732 sqft). 1 sale was excluded from the pool as it belonged to a different postcode sector with a materially higher price-per-sqft than the subject's local pocket (AB51 3X). This avoids pulling the valuation up against a different micro-market. We found 4 sold flats within 50 sqft of this property's size. Not enough upper-quartile comparables to isolate, so all tight-size sales were used. Confidence reduced accordingly. Key examples: 65, Crichie Circle, Port Elphinstone, 743 sqft, £75,000; 84b, High Street, 753 sqft, £130,000; 4a, Victoria Court, 721 sqft, £130,000. Based on these comparables, a refurbished 2-bedroom flat (732 sqft) in this area is valued at £130,804. This is the median of the comparable evidence, the point at which half the comparable sales sit above and half below. Confidence: limited. The purchase price is £78,000, which is £52,804 (40.4%) below this post-refurb valuation. This gap represents the potential uplift from purchasing below market value and refurbishing. The comparable sales confirm the market supports a higher price once the property is brought to a good standard.

The refurbishment, room by room

Total £8,892 including VAT: rooms £0, energy works £3,484, overheads £4,249, with a 15% contingency carried.

The rent, with its evidence

Market rent today £715/month (£696 to £780), post-refurbishment estimate £745/month, a stated premium of 4.2%, from 10 matched comparable lets. Confidence 72%.

10 comparable rental listings were identified near this property, matched on property type, bedroom count, and proximity, with 4 already let and confirming achievable rents in the current market. The comps indicate a median of £715/month for properties of this type and size, with the 65th percentile sitting at £742/month, used here to reflect the premium a refurbished, well-presented property commands over typical stock. Post-refurb rental estimate: £745/month (£8940/year).