1 Pier Road, Gorleston, Great Yarmouth, Norfolk NR31 6BP

Description

Two bedroom end terrace house, within walking distance of the beach. Having been tenanted for a number of years, the property is now vacant and requires a comprehensive programme of works to address its current condition and realise its full potential. The accommodation comprises a sitting room, dining room leading through to a generously sized kitchen, with a side lobby providing access to the ground-floor bathroom. The property accommodation comprises; sitting room, dining room leading through to a sizeable kitchen. To the side of the kitchen is a lobby area providing access into the ground floor bathroom. On the first floor are two bedrooms, both accessed from the landing. The property enjoys a convenient location within walking distance of the beach and, subject to the required refurbishment, offers an excellent opportunity for improvement and potential value enhancement.

Location

1 Pier Road, Gorleston, Great Yarmouth, Norfolk NR31 6BP. Located in the NR31 postcode district. Verify exact position, access, local demand and comparable evidence before bidding.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Development. Set the maximum bid only after reviewing condition, legal pack, finance, rents and sold evidence.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, decoration and any structural, roofing, damp, kitchen, bathroom, external or development works identified.

Rental & Market Context

HB rental/value figures are indicative appraisal estimates and should be checked against current local letting and sold evidence.

Sold within approximately 5 miles

Check recent Land Registry transactions and closely matched local comparables for property type, size, tenure and condition.

Potential BRRR Position

Refinance potential depends on the completed condition, lender valuation, tenure and rental stress testing; development/commercial assets require specialist lender criteria.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the full legal pack and special conditions

• Verify tenure, occupancy, planning and title restrictions

• Inspect condition and obtain contractor quotations

• Confirm finance and insurance availability

• Verify rents and recent sold comparables

• Allow for buyer premium, administration charges and disbursements

Recommendation

Proceed only where verified total project cost supports the intended development strategy with adequate contingency.

Strategy Rating

Development: ★★★★☆ | Resale: ★★★★☆ | Buy-to-Let: ★★☆☆☆