Can i run unreal engine 4 well on a lenovo y40-80 laptop?

specs:
AMD Radeon R9 M275 2GB
Intel Core i7-5500U Processor (2.40GHz 1600MHz 4MB)
8.0GB PC3-12800 DDR3L 1600 MHz
Hybrid 1TB 5400 RPM+8GB SSHD

It looks like you should be able to run it, it meets the minimum requirements.

Running it well is subjective and only you can see. Maybe the card will get hot, scene size may be restricted. Hard to tell. Maybe it’s well for what you need to do though.

Just try it, it’s free.

well i am looking into buying it i don’t own it yet. My concern is that the processor is a dual core and not a quad core.

I’d get a desktop pc instead, price per performance. The video card only meets minimum requirements. If you really need to develop on a laptop get one with a top of the line card, like the GTX 980M. The gpu is more of a bottleneck on that than the cpu.

Look here for recommended requirments. It does suggest a quad-core as well.
Hardware Requirements