10 Barn Lane, Bodmin, Cornwall, PL31 1LW

Description

An interesting opportunity to acquire a two bedroom, two storey, semi detached property requiring repair/improvement works, having the benefit of a self contained one bedroom annexe with attached garage/workshop, on drive parking and a low maintenance rear courtyard style garden. The property is likely to appeal as a post-works re-sale opportunity, those looking for multi-generation occupancy, or perhaps a live/work opportunity.

Accommodation

10 Barn Lane: Ground floor living room with stairs rising to the first floor, dining room and kitchen. First floor landing, two bedrooms and bathroom. The annexe: entrance/utility area, kitchen/diner, living room, bedroom and shower room.

Location

Barn Lane is conveniently situated for Bodmin town centre, offering a wide range of bespoke shops, retail parks and superstores, being readily accessible to the A30/A38 road networks and a mainline railway station at Bodmin Parkway.

Tenure / Property Information

Investment Analysis

The only supplied completed comparable is 8 Barn Lane, a semi-detached property sold for £117,000 on 31 October 2024. This supports an indicative base GDV of £117,000, but no adjustment can be reliably made for differences in condition, accommodation or the self-contained annexe. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat as a conditional refurbishment or resale opportunity only. Obtain the legal pack, confirm tenure and inspect both units before bidding; do not rely on the headline rental yields or bid without a supported works budget.

Works Required

Repair and improvement works are required, but the supplied evidence does not identify the defects or provide a costed scope. The main property and annexe should be inspected, with particular attention to the annexe’s EPC E rating and general condition.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative £117,000 base GDV, 75% refinancing would equal £87,750. However, refurbishment costs, tenure, legal position and total acquisition costs are unavailable, so the required equity and cash left in cannot be calculated. The strategy requires full inspection and legal-pack review before bidding.

Buy-to-Let Analysis

The supplied three-bedroom rental listings range from £600 to £1,245 pcm, producing an indicative gross yield range of 14.40% to 29.88% against the £50,000 guide. These are advertised asking rents, not achieved rents, and may not be directly comparable with this two-bedroom property plus one-bedroom annexe. A reliable BTL yield cannot be established without confirmed achievable rent, works cost, tenure and total acquisition costs.

Flip Analysis

The same-lane completed sale at £117,000 provides an indicative resale benchmark. A flip surplus cannot be calculated because the repair/improvement scope, refurbishment cost and selling allowance are unsupported. The annexe may influence value, but no evidence supports a specific premium.

Investor Risks & Due Diligence

• Tenure, occupancy and lease information are not supplied.

• The property requires repair/improvement works, but no defects or refurbishment budget are provided.

• The annexe has EPC rating E.

• Rental figures are advertised asking rents rather than achieved rents and may not be directly comparable.

• The buyer administration charge is subject to a minimum of £1,800 plus VAT, and the legal pack may contain additional fees including vendor legal fees.

• The GDV relies on one supplied comparable and is not a formal valuation.

Recommendation

Treat as a conditional refurbishment or resale opportunity only. Obtain the legal pack, confirm tenure and inspect both units before bidding; do not rely on the headline rental yields or bid without a supported works budget.

Strategy Rating

Analysis Confidence

There is one recent same-lane completed sale and several advertised rents, but tenure, occupancy, lease details, condition, refurbishment costs and achievable rent are not supplied.