114 Station Road, Yate, Bristol, South Gloucestershire, BS37 4PQ

Description

A Vacant Three Bedroom End of Terrace House

Accommodation

Ground Floor: Two Reception Rooms, Kitchen, Utility Room. First Floor: Three Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Yate Common are within easy reach. Transport links are provided by Yate rail station.

Tenure / Property Information

Investment Analysis

The supplied completed sales provide only dated local evidence: £233,000 for 112 Station Road in April 2019 and £185,000 for 108 Station Road in April 2017, with earlier sales from £124,950 to £203,000. An indicative base GDV of £233,000 uses the latest supplied comparable, with £185,000 as a conservative evidence-supported low scenario. This is not a formal valuation: the comparables are not the subject property, are dated, and the subject's condition is not described beyond an EPC rating of G.

Investment Snapshot

Strategy Recommendation

Proceed only as a conditional value-led purchase after reviewing the legal pack, inspecting the property and obtaining firm refurbishment and resale evidence. Do not underwrite the deal on the dated comparables alone.

Works Required

Obtain a full survey and review the EPC recommendations. Any repairs, redecoration, kitchen, bathroom, heating, electrical or energy-efficiency works should be specified and costed only after inspection; the supplied evidence does not confirm these works are required.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential value gap exists against the £130,000 guide when compared with the dated local sales evidence, but the BRRR case cannot be quantified. Refurbishment costs, rent, finance costs, legal-pack disbursements and a current valuation are not supplied. The known £1,800 administration charge is payable in addition to the purchase price, subject to the auction terms.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The vacant status means there is no evidenced passing rent. Refurbishment and total project costs are also unknown.

Flip Analysis

A flip may have theoretical value based on the £185,000–£233,000 supplied comparable range, but no supported refurbishment allowance, selling costs or current valuation is available. A reliable resale surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• The comparable sales are dated, with the latest supplied transaction completing in April 2019.

• The comparables relate to other properties at 108 and 112 Station Road rather than the subject property.

• The property is vacant and no rental evidence or passing rent is supplied.

• The EPC rating is G, but the required improvement works and costs are unknown.

• Buyer disbursements and other possible auction charges are not quantified and may be payable under the special conditions.

• The £130,000 figure is a guide price and is not stated to be the final purchase price or reserve.

Recommendation

Proceed only as a conditional value-led purchase after reviewing the legal pack, inspecting the property and obtaining firm refurbishment and resale evidence. Do not underwrite the deal on the dated comparables alone.

Strategy Rating

Analysis Confidence

There is some local completed-sale evidence and a clear guide price, but the sales are dated and not the subject property. Rent, condition detail, refurbishment costs, legal disbursements and current market evidence are missing.