1, The Kippings, Bourne, Lincolnshire

Description

Freehold two floor detached house requiring updating. By order of Hurstway Investment Company Limited.

Accommodation

First floor: Three bedrooms, 1 ensuite shower room/WC, bathroom/WC. Ground floor: Reception room, kitchen, cloakroom/WC. Outside: Front and rear gardens, driveway, garage.

Location

The property is situated on The Kippings which is accessed from Chapel Lane via Lawrance Way. Road communications include the A15, A47 and A1. Shopping facilities are available locally with a more comprehensive range of shopping and leisure pursuits to be found in Bourne.

Tenure / Property Information

Investment Analysis

The supplied completed sales are all detached freehold properties on The Kippings, ranging from £280,000 in November 2024 to £340,000 in April 2026, with older sales at £204,000, £415,000 and £455,000. The evidence does not provide floor areas, bedroom counts, condition or specification for the comparables, so they cannot support a precise valuation. A cautious HB scenario range of £280,000 to £340,000 is used, with a £310,000 base scenario reflecting the two most recent supplied sales. The £190,000 guide is materially below this indicative range, but updating costs, additional seller fees and the property's specification remain unquantified.

Investment Snapshot

Strategy Recommendation

Treat as a potential refurbishment-led resale or refinance opportunity only after inspection, review of special conditions and confirmation of all fees. Do not rely on the apparent guide-price discount without a supported works budget and rental evidence.

Works Required

General updating is supported by the description. The precise scope, including finishes, fixtures, services, heating and any defects, requires inspection and auction documentation review. No unsupported structural or repair works are assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £310,000 base GDV scenario, 75% refinance represents £232,500. A meaningful BRRR assessment cannot be completed because the updating budget, total acquisition costs, finance costs, rental income and any additional seller fees are unknown. The £1,800 inclusive-of-VAT contract documentation fee is known but insufficient to calculate total project cost.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant and has three bedrooms, but rent, operating costs, finance costs and refurbishment costs are unknown.

Flip Analysis

The supplied comparable evidence suggests a broad post-works value scenario of £280,000 to £340,000, with £310,000 used as the base. A flip surplus cannot be calculated because refurbishment costs, selling costs, finance costs and additional seller fees are unsupported. The comparable properties also lack size, condition and specification details.

Investor Risks & Due Diligence

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

• Comparable sales do not include floor area, bedroom count, specification or condition, limiting GDV reliability.

• No sufficiently specific rental evidence or auctioneer rent estimate is supplied.

• The £1,800 documentation fee is known, but additional seller fees may apply under the special conditions.

• Heating details are unavailable and the EPC is rated E.

• Finance, tax and selling costs are not supplied and could materially affect returns.

Recommendation

Treat as a potential refurbishment-led resale or refinance opportunity only after inspection, review of special conditions and confirmation of all fees. Do not rely on the apparent guide-price discount without a supported works budget and rental evidence.

Strategy Rating

Analysis Confidence

There are several relevant completed sales on the same street and a known guide price, but comparable property details, rental evidence, refurbishment costs, heating information and potential additional fees are missing.