1 Church Cottages, Sithney, Helston, Cornwall

Description

A Vacant Two Bedroom End of Terrace House in Need of Modernisation. The property comprises a two bedroom end of terrace house arranged over ground and first floors.

Accommodation

Ground Floor: Two Reception Rooms; Kitchen/Diner. First Floor: Two Bedrooms. Exterior: Rear garden and outside WC.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Coronation Park are within easy reach. Transport links are provided by the A394.

Tenure / Property Information

Investment Analysis

The only directly relevant completed sale is 2 Church Cottages at £116,000 on 10 February 2010. The other supplied sales are from 1997. These historic transactions do not support a current GDV or reliable modernisation budget. No current comparable, rental evidence or auctioneer rent estimate is supplied.

Investment Snapshot

Strategy Recommendation

Do not proceed beyond due diligence without a current valuation, full inspection, refurbishment quotation, rental assessment and review of all special-condition charges.

Works Required

Modernisation is required, but the evidence does not specify the condition or scope of works. A detailed inspection and legal-pack review are required before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because current GDV, refurbishment cost, rent and total project cost are unsupported. The £25,000+ guide is subject to the £1,800 administration charge and potentially further legal-pack and special-condition costs.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is vacant and requires modernisation, so income timing and costs are also unquantified.

Flip Analysis

A flip surplus cannot be calculated. The only same-cottages sale supplied is historic, at £116,000 in 2010, and no supported current GDV, works allowance or selling-cost allowance is available.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but the scope and cost of works are unknown.

• No current market-value evidence is supplied; the relevant same-cottages sale dates from 2010.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• The £1,800 administration charge applies, and special conditions may add search, seller-cost, legal, transfer or disbursement charges.

• The property is vacant, so there is no passing rental income evidenced.

Recommendation

Do not proceed beyond due diligence without a current valuation, full inspection, refurbishment quotation, rental assessment and review of all special-condition charges.

Strategy Rating

Analysis Confidence

Evidence is limited to a low guide price, one known administration charge, a general modernisation description and historic completed sales; current value, works, rent and additional costs are not supplied.