1 Church Road, Walton on the Naze, Essex

Description

Refurbishment opportunity: a freehold semi-detached house requiring full refurbishment with the benefit of a large plot with development potential. The property is conveniently located with Walton-on-the-Naze Rail Station and Walton Pier both in the immediate vicinity. The property requires full refurbishment and may be possible to extend or build an extra residential property subject to obtaining necessary consents. Once refurbished the property would be suitable as a buy-to-let or holiday let.

Accommodation

Ground Floor: Lounge: 21'7" x 17'1" > 11'2"; Kitchen: 8'11" x 7'9"; Bathroom: 8'9" x 7'2". First Floor: Bedroom 1: 11'8" x 11'6"; Bedroom 2: 9'11" x 9'11"; Bedroom 3: 8'10" x 7'4"; Shower Room: 6'3" x 3'9".

Location

Conveniently located with Walton-on-the-Naze Rail Station and Walton Pier both in the immediate vicinity.

Tenure / Property Information

Investment Analysis

The £182,000 and £122,500 comparables are for the same road but date from 2007, so they do not establish a current GDV. The £130,000 guide is not a valuation. Current refurbishment costs, fees and planning evidence are unavailable.

Investment Snapshot

Strategy Recommendation

Treat as a high-risk refurbishment acquisition only after a full survey, detailed cost plan and planning review. Do not rely on the advertised rent or historic comparables when bidding.

Works Required

Full refurbishment is required. Review the existing accommodation, upgrade the EPC from E where practical, and investigate any extension or additional dwelling only subject to professional surveys and planning consent.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten because current GDV, refurbishment costs, purchase fees and refinance terms are unsupported. The same-road comparables are historic 2007 transactions and are not sufficient for a current valuation.

Buy-to-Let Analysis

The advertised asking rent is £1,700 pcm, equivalent to £20,400 annually. Against the £130,000 guide this indicates a simple gross yield of 15.69%, but the figure is not an achieved rent and excludes refurbishment, purchase fees, finance, maintenance and voids. A reliable BTL yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated because current resale value, refurbishment cost, selling costs and buyer fees are unavailable.

Investor Risks & Due Diligence

• Full refurbishment is required.

• EPC rating is E.

• Buyer fees are stated as additional but not quantified.

• The £1,700 pcm figure is an advertised asking rent, not achieved or passing rent.

• Extension or additional residential development is only possible subject to obtaining necessary consents.

• Historic comparables date from 2007 and may not reflect current value.

Recommendation

Treat as a high-risk refurbishment acquisition only after a full survey, detailed cost plan and planning review. Do not rely on the advertised rent or historic comparables when bidding.

Strategy Rating

Analysis Confidence

The property description, guide, one advertised rent and historic same-road sales are available, but there is no current GDV evidence, refurbishment quotation, fee schedule, survey or planning information.