1 Colbert Hall Mews, Tar Lane, Ottery St. Mary, Devon

Description

An opportunity to acquire this partially converted two storey, end-terrace property with courtyard. The property forms part of The Former Colbert Hall and has Planning Permission for conversion into a dwelling. Works have already commenced and now requires completion. The property is located in the heart of Ottery St Mary town centre, close to all local amenities and interest is likely to come from builder developers for post works onward sale.

Accommodation

Ground Floor: Entrance into open-plan living room/kitchen with balcony and cloakroom. First Floor: Landing, two bedrooms and bathroom. Outside: Courtyard area.

Location

The property is located in the heart of Ottery St Mary town centre, close to all local amenities.

Tenure / Property Information

Investment Analysis

The supplied completed sales in Ottery St Mary range from £165,000 to £282,000, with recent terraced sales at £205,000 and £227,000. These provide a broad indication only: bedroom count, floor area, specification and condition are not supplied, and the subject is an incomplete conversion. A provisional base GDV of £205,000 is used, with low and high scenarios based on the observed comparable range. This is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to verification of the planning permission, building-control position, title and a builder-priced schedule of remaining works. Do not set a maximum bid from the supplied evidence alone.

Works Required

Complete the partially converted dwelling in accordance with the existing planning permission, including only the remaining works necessary to deliver the described open-plan living room/kitchen, cloakroom, two bedrooms, bathroom, access arrangements and courtyard. A costed schedule and confirmation of approvals are required before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A provisional 75% refinance against the £205,000 base GDV would be £153,750. BRRR viability cannot be calculated because the completion cost, acquisition charges, finance costs and achievable rent are unknown.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence, auctioneer rent estimate, refurbishment cost or complete acquisition-cost schedule is supplied. The stated administration fee and other possible buyer costs are also unknown.

Flip Analysis

The location and comparable sales provide a provisional GDV indication, but flip profitability cannot be calculated. Completion costs, professional costs, finance costs, buyer charges, selling costs and the remaining scope of works are unsupported.

Investor Risks & Due Diligence

• The property is an incomplete conversion and the remaining works and costs are unknown.

• Planning permission is stated but the permission details, conditions and expiry status are not supplied.

• Building-control and compliance status are not supplied.

• The comparable sales vary materially in price and are not matched by stated size, bedroom count or specification.

• Administration, search, repayment and other non-optional buyer costs may apply but are not quantified.

• No reliable rent evidence is available, preventing a supported BTL yield assessment.

Recommendation

Proceed only subject to verification of the planning permission, building-control position, title and a builder-priced schedule of remaining works. Do not set a maximum bid from the supplied evidence alone.

Strategy Rating

Analysis Confidence

There are several local completed-sale comparables and a clear description of the proposed dwelling, but no floor area, planning details, condition survey, completion budget, rental evidence or confirmed auction charges.