1 Sole Bay, Pit Road, Hemsby, Great Yarmouth, Norfolk NR29 4LG

Description

Two bedroom end terrace cottage with off road parking and garage This two bedroom end terrace cottage extends to around 65 sq/m. It has oil fired heating, is double glazed and has accommodation over three floors. It occupies a generous corner plot with off road parking and detached garage. It has been in the same ownership for 40 years and is now to be sold with vacant possession. It requires some updating to realise its full potential. The property is located nearly a mile away from the coast and is ideal for owner occupation, second home or investment. On instruction of an executor.

Location

1 Sole Bay, Pit Road, Hemsby, Great Yarmouth, Norfolk NR29 4LG. Located in the NR29 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: ★★☆☆☆