112 and 112A South Street, St Andrews

Description

112A South Street, referred to as the Cottage, has a datestone dated 1734. The adjoining House, 112 South Street, has a long, 60 metre walled garden. The two properties are linked via a door from the bathroom in the Cottage to the hall in the house to create a vertical division. Both the Cottage and the adjoining house were rescued from ruin in the 1930s and refurbished at that time. The property is now in need of modernisation. The accommodation in both properties is arranged over three floors.

Accommodation

Cottage: entrance hall with double doors; side hall with coat hooks and store; two rooms currently fitted as bathrooms, one of which has been used by the house next door; panelled sitting room with fireplace and stove; galley kitchen area with sink; bedroom 1 with built-in cupboard and wardrobe; two attic bedrooms, one with dormer window; paved area outside front door. House: glazed door with side panels to reception hall; south-facing dining room with fireplace and glazed door to garden; kitchen extension with glazed door to garden; first-floor sitting room with cast iron fireplace and carved wooden display recess; adjoining principal bedroom with fireplace; bedroom 2/study over kitchen with WC off; two attic bedrooms with built-in cupboards; large south-facing garden.

Location

The adjoining houses are accessed from a close (outside passage) off South Street in the centre of St Andrews. The property is close to the University, shops, bars and restaurants, set back from the busy street, and is approximately half a mile from the Old Course and West Sands beach. Leuchars railway station is 8 miles away, Edinburgh Airport is 50 miles away and Dundee Airport is 15 miles away.

Tenure / Property Information

Investment Analysis

The £595,000 guide is the only price evidence supplied. No completed-sale comparables, formal valuation, GDV evidence, rental evidence or refurbishment budget is available, so market value and investment metrics cannot be reliably estimated. The guide excludes the auctioneer’s buyer fee, potentially applicable VAT and any seller charges stated in the Special Conditions.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain a full inspection, detailed refurbishment quotations, comparable sales, rental evidence and the complete Special Conditions before considering a purchase or strategy.

Works Required

Modernisation of the two adjoining houses is indicated by the description. The evidence does not specify required structural, fabric, services, kitchen, bathroom, heating or compliance works, so no quantified works allowance can be supported.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed without a supported purchase-cost basis including fees, a refurbishment budget, rental evidence and a post-works GDV. The property is described as requiring modernisation, but the scope and cost are unquantified.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Operating costs, finance costs, buyer fees, VAT and seller charges are also unknown.

Flip Analysis

A flip appraisal cannot be completed because there are no completed-sale comparables, supported GDV, refurbishment cost or selling-cost allowance. The guide price alone is insufficient to establish a resale margin.

Investor Risks & Due Diligence

• The property is described as needing modernisation, but the extent and cost of works are unknown.

• The two houses are linked by a door between the Cottage bathroom and the adjoining house hall, creating a vertical division that may require review before a proposed use or alteration.

• The guide excludes the auctioneer’s buyer fee, potentially applicable VAT and other seller charges, none of which are quantified.

• No rental evidence is supplied, so income and yield cannot be established.

• No EPC, council tax, heating or parking information is supplied.

• The Special Conditions may contain additional seller charges or other obligations, but they have not been provided.

Recommendation

Do not bid on the supplied evidence alone. Obtain a full inspection, detailed refurbishment quotations, comparable sales, rental evidence and the complete Special Conditions before considering a purchase or strategy.

Strategy Rating

Analysis Confidence

Only the guide price, descriptive accommodation information, tenure and location context are supplied; there are no sold comparables, rental evidence, EPC, charges, buyer fee, VAT position, refurbishment budget or formal valuation.