102 Essington Road, Willenhall, WV12 5DT

Description

A vacant freehold semi detached property with development potential subject to planning

Accommodation

Ground Floor: Porch, Hall, Two Reception Rooms, Kitchen, Side Entry With WC and Store. First Floor: Landing, Three Bedrooms, Bathroom/WC. Outside: Gardens, Driveway Parking, Side Tandem Garage and Car Port.

Tenure / Property Information

Investment Analysis

Two recent same-road freehold semi-detached sales were £226,500 and £230,000 in 2021–2022. A base GDV of £228,250 is used, with a narrow evidence-based range of £226,500–£230,000. The older £120,000 sale from 2013 is not used as a current valuation indicator. Differences in size, condition and specification are not evidenced.

Investment Snapshot

Strategy Recommendation

Potentially suitable for BTL at the guide, subject to inspection confirming condition and achievable rent. Do not rely on the stated development potential without planning evidence. A firm bid limit cannot be supported until works, taxes and additional auction costs are known.

Works Required

No specific remedial works are evidenced. Inspect the property, assess the implications of the EPC E rating, and investigate the stated development potential and any planning requirements. Works remain uncosted.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known £2,700 administration charge, the indicative cost is £71,700 before works, taxes, finance and other legal-pack costs. A 75% refinance of the £228,250 base GDV would be £171,187.50, implying £99,487.50 above this limited cost basis. This is not a reliable cash-out result because condition, refurbishment cost, lender valuation, rental assessment and finance costs are unsupported.

Buy-to-Let Analysis

Using the closest supplied rental evidence of £950 pcm, annual gross rent is £11,400. Against the £69,000 guide this is approximately 16.52% gross; including the known £2,700 administration charge, but excluding unknown works, taxes and other costs, it is approximately 15.90%. The rent is an advertised asking rent rather than achieved rent, and only one directly relevant same-road listing is supplied.

Flip Analysis

The base GDV indicates a gross spread of £156,550 over the guide plus known administration charge before refurbishment, selling costs, taxes, finance and other completion costs. A dependable flip surplus cannot be calculated because refurbishment and selling allowances are not evidenced.

Investor Risks & Due Diligence

• Development potential is expressly subject to planning and no planning consent or evidence is supplied.

• The property is EPC E; implications and any improvement costs are unknown.

• The £950 pcm figure is an advertised asking rent, not achieved rent.

• Property condition and refurbishment requirements are not evidenced, so total project cost is unknown.

• Additional legal-pack costs, stamp duty and government taxes are not supplied.

• The GDV comparables are from 2021–2022 and may not reflect current market value.

• Vacant possession means there is no passing rent or established tenancy income.

Recommendation

Potentially suitable for BTL at the guide, subject to inspection confirming condition and achievable rent. Do not rely on the stated development potential without planning evidence. A firm bid limit cannot be supported until works, taxes and additional auction costs are known.

Strategy Rating

Analysis Confidence

The analysis has two recent same-road sales, one same-road rental asking figure, the guide and the known administration charge, but lacks condition details, measured accommodation, refurbishment costs, planning evidence, achieved rent and full purchase costs.