10 Bottom Breck Close, Norwich, Norfolk NR5 0QW

Description

A ground floor apartment requiring modernisation and refurbishment located within a popular and sought after residential area. The property in brief consists of an entrance hall with storage, a lounge/diner, separate kitchen, two bedrooms and family bathroom. Locally there is considerable demand for buy to let properties. This property therefore offers an excellent opportunity for investment and a generous return. Close by are a wide range of local amenities, shops and transport links.

Accommodation

Ground floor apartment; entrance hall; lounge/diner; kitchen; bedroom 1; bedroom 2; bathroom.

Location

Located within a popular and sought after residential area in Norwich. Close to a wide range of local amenities, shops and transport links.

Tenure / Property Information

Investment Analysis

The £130,000+ guide is the only supplied pricing evidence. No completed-sale comparables, GDV evidence, rental evidence or quantified refurbishment budget is provided, so market value and investment returns cannot be established. The buyer premium is 1.2% including VAT, subject to a £1,860 minimum; at the guide price the minimum applies, giving a guide-price purchase plus stated premium of £131,860 before refurbishment and any other costs.

Investment Snapshot

Strategy Recommendation

Do not commit to a bid based on the current evidence. First verify the legal pack, new lease terms, service charge, physical condition, refurbishment quotations, local achieved-sale evidence and achievable rent. Reassess only if the total project cost leaves a supported margin.

Works Required

Modernisation and refurbishment are stated as required, but no specific defects or scope are supplied. Obtain a viewing, contractor quotations and the full legal pack before pricing works. Confirm the new lease terms, service charge and any review provisions.

Rental & Market Context

Potential BRRR Position

A BRRR assessment is not supportable without a purchase valuation, refurbishment cost, achievable rent and refinance valuation. The new 990-year lease with peppercorn ground rent is noted, but lease-related service charge and review provisions remain unconfirmed.

Buy-to-Let Analysis

The description states local buy-to-let demand, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent and gross yield therefore cannot be calculated. The leasehold service charge and other lease costs are also unconfirmed.

Flip Analysis

A flip assessment is not supportable because there are no completed-sale comparables, GDV evidence, refurbishment costs or supported selling allowance. Do not rely on the guide price as market value.

Investor Risks & Due Diligence

• Unquantified modernisation and refurbishment requirement.

• No completed-sale evidence or supported GDV.

• No sufficiently specific rental evidence, so yield cannot be established.

• New lease service charge and any review provisions are not yet confirmed.

• Additional fees may be included in the Special Conditions of Sale.

• Leasehold purchase requires review of the legal pack and new lease terms.

Recommendation

Do not commit to a bid based on the current evidence. First verify the legal pack, new lease terms, service charge, physical condition, refurbishment quotations, local achieved-sale evidence and achievable rent. Reassess only if the total project cost leaves a supported margin.

Strategy Rating

Analysis Confidence

Only the guide price, buyer premium, property description and proposed new lease term are supplied. There are no sales comparables, rental evidence, GDV, works budget, EPC, council tax or service-charge figures.