10 Clifton Road, Lowestoft, Suffolk

Description

Quaint fisherman's cottage in need of structural repairs situated on the South of Lowestoft. Inviting CASH BUYERS ONLY to purchase. The property is in need of structural repair and works have commenced to repair the structure. The works have started through a local builder under the supervision of building control of East Suffolk Council and further enquiries can be made through them and information will be provided by the vendor.

Accommodation

Ground floor: two reception rooms and kitchen. First floor: landing, two bedrooms and bathroom. Exterior: shared access leads to the front entrance and a courtyard providing bin storage.

Location

Situated with front entrance through an alley way off Clifton Road, in the Suffolk seaside town of Lowestoft.

Tenure / Property Information

Investment Analysis

Same-road completed sales range from £80,000 to £125,000, including £122,000 at 20 Clifton Road in September 2024 and £125,000 at 22 Clifton Road in June 2023. A base GDV of £122,000 is used, with a low scenario of £80,000 and high scenario of £125,000. These are indicative only because the subject requires structural repairs and the comparables' condition and specification are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and East Suffolk Council building-control records, obtaining a structural assessment and fixed repair budget, and confirming funding for the cash purchase. Do not rely on the apparent gross yield or refinance value until the structural works are independently verified.

Works Required

Complete the structural repair works already commenced, obtain and review the relevant East Suffolk Council building-control information, and undertake only further works identified by the vendor, builder or building control. No reliable refurbishment cost can be calculated from the evidence supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the £122,000 base GDV would be approximately £91,500. However, cash released and equity cannot be calculated because the structural repair budget, total project cost, lender criteria and valuation outcome are unknown. The cash-buyer requirement also creates a significant funding constraint before refinance.

Buy-to-Let Analysis

Advertised two-bedroom rents range from £750 to £807 pcm, giving annualised rent of £9,000 to £9,684. Using the midpoint guide price of £35,000 and midpoint annual rent of £9,342 gives an indicative gross yield of 26.69% before works, finance, voids, management and other costs. The true investment yield cannot be established because structural repair costs and the final all-in acquisition cost are unknown.

Flip Analysis

The evidence supports an indicative resale value range of £80,000 to £125,000, with a £122,000 base GDV. A flip surplus cannot be calculated because structural works, legal/disbursement costs and selling costs are not supplied. The project should not be underwritten using GDV alone.

Investor Risks & Due Diligence

• Structural repair works are incomplete and their scope and cost are unknown.

• Cash buyers only requirement may restrict funding and exit options.

• Building-control status and completion evidence must be independently verified.

• Auction buyer premium, admin charge and possible legal-pack disbursements increase total cost.

• Comparable sales do not establish the subject property's post-repair condition or exact market value.

• Rental figures are advertised asking rents rather than achieved rents.

Recommendation

Proceed only after reviewing the legal pack and East Suffolk Council building-control records, obtaining a structural assessment and fixed repair budget, and confirming funding for the cash purchase. Do not rely on the apparent gross yield or refinance value until the structural works are independently verified.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and rental asking rents, but no structural report, works budget, legal-pack details, completed-works evidence, selling costs or finance terms.