1 Frances Road, Bournemouth, Dorset

Description

A four floor semi-detached Victorian house currently arranged as 1 x two bedroom self-contained flat and nine bedsits. The property is in need of modernisation. Benefiting from an HMO license and a communal rear garden. Part-vacant investment let at £62,520 per annum (plus vacant possession of Flat 1).

Accommodation

Lower Ground Floor - Two Bedrooms, Living Room, Kitchen, Toilet, Garage. Ground Floor - Three Bedrooms, Toilet. First Floor - Three Bedrooms, Kitchen, Shower Room. Second Floor - Three Bedrooms, Kitchen, Bathroom.

Location

The property is located on Frances Road which can be accessed off St Swithun's Road. Local amenities can be found on Holdenhurst Road, Old Christchurch Road and Christchurch Road. Recreational amenities of Boscombe Beach, Queens Park Golf Course and Meyrick Park are all easily accessible. Transport Bournemouth - National Rail.

Tenure / Property Information

Investment Analysis

The only completed-sale evidence is 15 Frances Road at £456,350 on 15 August 2024, also a freehold semi-detached property on Frances Road. It provides a possible value reference, but no details are supplied on its bedroom count, HMO configuration, condition or income, so no reliable adjustment or low/high valuation range can be established. £456,350 is therefore used only as an indicative base GDV, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Potential income-led HMO hold, subject to full verification of the stated rent, HMO licence, Flat 1 letting potential, condition, compliance requirements and all auction costs. Do not rely on the apparent headline yield or indicative GDV without this due diligence.

Works Required

Modernisation of the existing four-floor accommodation is indicated. The evidence does not specify the defects, required compliance works, or refurbishment scope, so no reliable works allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the sole same-road completed sale as an indicative £456,350 GDV gives a theoretical 75% refinance figure of £342,262.50. However, refurbishment costs, buyer fees and other acquisition costs are unavailable, so total project cost and cash left in cannot be calculated. The apparent refinance headroom before those unknown costs is not sufficient evidence of a viable BRRR outcome.

Buy-to-Let Analysis

The stated income is £62,520 per annum from the let accommodation, equivalent to £5,210 per month, with vacant possession of Flat 1. Against the £325,000 guide this is a 19.24% gross yield before operating costs, finance, buyer fees, refurbishment and any vacancy. The full-property rent and net yield cannot be established because no rent is supplied for Flat 1 and no sufficiently specific external rental evidence is available.

Flip Analysis

A flip assessment cannot be reliably completed. The indicative £456,350 GDV reference is based on one comparable with unknown differences in condition, accommodation and use, while refurbishment and selling costs are not supplied. Estimated flip surplus is therefore unavailable.

Investor Risks & Due Diligence

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

• Flat 1 is vacant, and no achievable rent for it is supplied.

• The £62,520 annual rent applies to the let accommodation and is not a guaranteed whole-property income figure.

• The HMO licence is mentioned, but licence terms, expiry and compliance status are not provided.

• The buyer fee is excluded from the guide price and no amount is supplied.

• The sole completed comparable may differ materially in condition, accommodation, HMO use and income profile.

Recommendation

Potential income-led HMO hold, subject to full verification of the stated rent, HMO licence, Flat 1 letting potential, condition, compliance requirements and all auction costs. Do not rely on the apparent headline yield or indicative GDV without this due diligence.

Strategy Rating

Analysis Confidence

A stated passing rent, guide price, HMO licence and one same-road completed sale are available, but there is no detailed condition survey, refurbishment budget, full-property rent, EPC, fee schedule or directly comparable HMO sale evidence.