11 Tibshelf Road, Westhouses, Alfreton, Derbyshire, DE55 5AA

Description

Traditional three-bedroom semi-detached property requiring a comprehensive programme of refurbishment and modernisation throughout. The property offers potential for investors, developers and buyers looking to create a home to their own specification. It has generous gardens, brick-built outbuildings and countryside views.

Accommodation

Approximately 743 sq. ft. (69 sq. m.) of internal accommodation arranged over two floors. Ground floor: entrance porch, lounge and separate dining room. First floor: three bedrooms and a family bathroom. The property also retains original fireplaces, timber doors and exposed wooden floorboards.

Location

Situated in the popular established residential village of Westhouses, near Alfreton, with access to Alfreton, local amenities, transport connections and the wider Derbyshire countryside. The property enjoys views towards the surrounding countryside.

Tenure / Property Information

Investment Analysis

Same-road completed sales range from £135,000 in 2021 to £175,000 in 2023, with earlier sales at £105,000–£166,000. A base GDV of £155,000 is a cautious midpoint scenario, with £135,000 low and £175,000 high. Comparability is limited because the sales' size, condition and specification are not supplied, and the subject requires comprehensive refurbishment. These are indicative scenarios, not formal valuations.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a full survey, legal review and itemised refurbishment quotation. Conditional refurbish-and-hold or BRRR may be preferable to an immediate flip, but no maximum bid should be set from the supplied evidence alone.

Works Required

Comprehensive refurbishment and modernisation throughout, subject to survey and contractor pricing. The retained original fireplaces, timber doors and exposed wooden floorboards may be considered for retention where practical. No specific structural, service or external defects are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR structure exists because the guide is materially below the indicative comparable-sale range and 75% of the £155,000 base GDV is £116,250. However, refurbishment costs, other acquisition charges and finance costs are not supplied, so total project cost, cash requirement and refinance surplus cannot be calculated. The strategy depends on survey findings, achievable GDV and a fully priced works programme.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £925 pcm for a three-bedroom property in DE55, not an achieved rent or property-specific valuation. At the £30,000 guide, this equates to an indicative gross yield of 37%, before the £3,600 admin charge, refurbishment, finance, voids, maintenance and other costs. BTL viability cannot be confirmed until the refurbishment budget and achievable rent are established. EPC F may also require attention before letting, subject to applicable requirements and exemptions.

Flip Analysis

The indicative base GDV is £155,000, against the £30,000 guide plus the known £3,600 admin charge. A flip surplus cannot be calculated because refurbishment, legal, finance, selling and other costs are not evidenced. The wide comparable range and unknown subject condition create material resale uncertainty.

Investor Risks & Due Diligence

• Comprehensive refurbishment is stated but no itemised scope or cost is supplied.

• The EPC is rated F; implications for letting and required works are not established.

• Comparable sales vary materially and their sizes, condition and specification are unknown.

• The £925 pcm figure is an advertised asking rent, not an achieved or property-specific rent.

• Additional search, seller, legal, transfer, premium and disbursement charges may apply but are not quantified.

• No parking, heating, council tax or lease information is supplied, limiting underwriting.

• A maximum bid and project surplus cannot be reliably calculated without works and total-cost evidence.

Recommendation

Proceed only subject to a full survey, legal review and itemised refurbishment quotation. Conditional refurbish-and-hold or BRRR may be preferable to an immediate flip, but no maximum bid should be set from the supplied evidence alone.

Strategy Rating

Analysis Confidence

There are several same-road completed sales, a guide price, one known auction charge and one local advertised rent. Confidence is reduced by missing property-specific condition detail, refurbishment costs, comparable sizes and condition, achieved rental evidence, legal charges and finance assumptions.