12, Court Close, Southampton, Hampshire, SO40 2QW

Description

Freehold three bedroom mid terrace house requiring modernisation. By order of a Major Housing Association.

Accommodation

First floor: Three bedrooms, bathroom/WC. Ground floor: Two reception rooms, kitchen, conservatory, entrance hall. Outside: Front and rear gardens. Gross Internal Area GIA: Approximately 90 sq m (965 sq ft).

Location

The property is situated on Court Close, a residential cul-de-sac within the Calmore area of Totton. Public transport links include Totton Mainline Railway Station and local bus services. Road links include the A326 and M27 Motorway. Shopping amenities can be found locally within Calmore and Totton town centre, with an extensive range of shops, bars and restaurants in Southampton City Centre. Recreational pursuits can be found at Testwood Lakes Nature Reserve, Calmore Common and the New Forest National Park.

Tenure / Property Information

Investment Analysis

Indicative GDV is based on the supplied same-road freehold terraced sales. The lower cluster ranges from £232,500 to £257,500, with a £240,000 midpoint used as the base case. The £400,000 sale is materially higher and is described as a bungalow, so it has not been relied upon for the base estimate. Evidence is dated 2020–2021 and does not provide comparable bedroom counts or condition details.

Investment Snapshot

Strategy Recommendation

Proceed only subject to satisfactory legal review, survey and service testing. Do not set a maximum bid until refurbishment, service reinstatement, parking/garage arrangements and all completion charges are confirmed. The property may suit a refurbishment-led resale or rental strategy, but neither is presently fully underwritten.

Works Required

Modernisation is required, but the evidence does not specify the scope or cost. Obtain a full survey and investigate the disconnected electricity, water, gas/heating and other services. Any refurbishment specification should be based on the survey and service testing; no specific defects are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be fully underwritten because the modernisation scope, refurbishment cost, service condition and achievable rent are unconfirmed. At the base GDV, 75% refinancing would be £180,000, but total project cost and cash left in cannot be calculated. The guide is £20,000 below the base GDV before works and costs, which provides limited evidenced headroom.

Buy-to-Let Analysis

The only rental evidence is an advertised £2,300 pcm asking rent for another three-bedroom house in Calmore, not an achieved rent or a confirmed rent for this property. At £2,300 pcm, annual asking-rent evidence is £27,600 and the gross yield on the £200,000 guide is 13.8%. A reliable yield on total cost cannot be established because refurbishment costs and any seller fees are unknown.

Flip Analysis

The supplied same-road sales support an indicative lower-cluster GDV range of £232,500–£257,500, with £240,000 used as the base. A flip surplus cannot be calculated because refurbishment costs, purchase costs beyond the known £1,800 contract documentation fee, seller fees and selling costs are not supplied.

Investor Risks & Due Diligence

• All services are disconnected and their condition is not warranted.

• The property requires modernisation, but no reliable refurbishment scope or cost is supplied.

• The rental figure is an advertised asking rent for another property, not achieved rent for this house.

• Comparable sales are from 2020–2021 and do not include confirmed bedroom counts or condition details.

• A nearby garage is mentioned, but the parking/garage position requires confirmation.

• A £1,800 inclusive-of-VAT contract documentation fee is payable, and additional seller fees may apply under the special conditions.

Recommendation

Proceed only subject to satisfactory legal review, survey and service testing. Do not set a maximum bid until refurbishment, service reinstatement, parking/garage arrangements and all completion charges are confirmed. The property may suit a refurbishment-led resale or rental strategy, but neither is presently fully underwritten.

Strategy Rating

Analysis Confidence

Same-road completed sales and one local advertised rent are available, but the sales are dated, comparable bedroom and condition details are absent, services are disconnected, refurbishment costs are unspecified and potential seller fees are unknown.