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103 Meavy Way, Tavistock, Devon PL19 9HY
Marketed by:
Auction House South West
2 Cattedown Rd, Plymouth PL4 0EG, UK
01752 474200
One-bedroom leasehold flat with rear garden, Tavistock
103 Meavy Way, Tavistock, Devon PL19 9HY
Unsold
£63,000+
• 1 Bedrooms
• Flat
• Leasehold
• Current Rating C73
Description
A one-bedroom flat in Tavistock. Requiring renovation throughout, the accommodation comprises a living room, kitchen, bedroom and a bathroom. Externally there is a rear garden. PVCu D/G and GCH. There will be a new 999 year lease on completion.
Accommodation
Living Room; Kitchen; Bedroom; Bathroom
Location
Tavistock, Devon
Tenure / Property Information
Tenure |
Leasehold |
Lease |
There will be a new 999 year lease on completion. |
EPC |
Current Rating C73 |
Heating |
GCH |
Investment Analysis
Same-road sold evidence ranges from £66,500 to £100,000. A midpoint base GDV of £83,250 is used, but comparability and renovated condition are unverified. The £63,000 guide is below both recorded sales, subject to renovation and fees.
Investment Snapshot
Guide Price |
£63,000 (plus fees) |
HB Estimated GDV |
£83,250 |
Estimated Monthly Rent |
£750 pcm |
Estimated Annual Rent |
£9,000 pa |
Gross Yield on Guide |
14.3% |
Strategy Recommendation
Proceed only subject to legal-pack review, confirmation of the new lease and a fully priced renovation budget. Conditional BTL/BRRR appears more supportable than an uncosted flip.
Works Required
Renovation throughout, including the living room, kitchen, bedroom and bathroom. No specific defects or contractor costs are supplied.
Rental & Market Context
HB Estimated Market Rent |
£750 pcm |
|
Ford Street, Tavistock PL19 1 bed apartment to rent - (£173 pw) — 1 bed — £750 pcm — Advertised asking rent |
£750 pcm |
Sold Comparables
The following completed sales were identified within approximately 5 miles:
|
105, Meavy Way, Tavistock, West Devon, Pl19 9hy |
£66,500 |
|
107, Meavy Way, Tavistock, West Devon, Pl19 9hy |
£100,000 |
Potential BRRR Position
Base GDV |
£83,250 |
75% Refinance |
£62,438 |
At the guide, the property may offer refinance potential against a base GDV of £83,250, with 75% indicative refinance of £62,437.50. Cash required cannot be calculated without refurbishment and completion costs.
Buy-to-Let Analysis
The supplied advertised asking rent is £750 pcm, implying £9,000 annual gross rent and 14.29% against the £63,000 guide. Total-cost yield cannot be established because refurbishment and possible disbursement costs are unknown. The rent is asking evidence, not achieved rent.
Flip Analysis
A resale case is suggested by sold evidence from £66,500 to £100,000, but refurbishment costs, selling costs and condition-adjusted GDV are unavailable. Flip surplus cannot therefore be calculated.
Investor Risks & Due Diligence
• Renovation is required throughout, but no works budget is available.
• The rental figure is an advertised asking rent rather than achieved or passing rent.
• Buyer premium is unspecified and legal-pack disbursements may be payable.
• The two sold comparables show a wide value range and their condition and specification are not provided.
• Leasehold legal terms and the new 999-year lease should be verified in the legal pack.
Recommendation
Proceed only subject to legal-pack review, confirmation of the new lease and a fully priced renovation budget. Conditional BTL/BRRR appears more supportable than an uncosted flip.
Strategy Rating
HB Rating |
★★★☆☆ |
Analysis Confidence
Confidence |
Low-Medium |
Two sold comparables and one advertised rent are available, but refurbishment costs, buyer premium, disbursements, achieved rent and detailed property condition are not supplied.
Auction Details :
Auction House South West
Auction Date :
21/10/26
Lot Number :
006
Property Location:
103 Meavy Way, Tavistock, Devon PL19 9HY
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