126 Cheaton Close, Leominster, Herefordshire, HR6 8EW

Description

Vacant freehold mid terrace house by order of a Housing Association, with front and rear gardens and approximately 74.32 sq m (800 sq ft) GIA.

Accommodation

Ground floor: reception room and kitchen. First floor: three bedrooms, bathroom and separate WC.

Location

The property is located on the east side of Cheaton Close. The shops and amenities of Leominster town centre are to the south. Leominster station is approximately 1 mile to the south. The A44 and Queenswood Arboretum are to the south.

Tenure / Property Information

Investment Analysis

The five completed sales on the same road range from £115,000 to £140,000, with an average of £125,000. The comparable properties are terraced freeholds, but the evidence is dated from 2017 to 2021 and no current market adjustment, condition evidence or direct specification comparison is supplied. A base GDV of £125,000 is therefore an evidence-based estimate only, with £115,000 to £140,000 used as a comparable-led range.

Investment Snapshot

Strategy Recommendation

Potential value-led purchase for resale or owner occupation, subject to inspection and confirmation of the service charge and total acquisition costs. Do not underwrite BTL or BRRR until rental and cost evidence is obtained.

Works Required

No specific defects or refurbishment works are evidenced. A viewing and survey should establish whether any works are required; no works allowance has been assumed in the guide-only calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the comparable-led base GDV of £125,000, 75% refinance is £93,750. Against the £65,000 guide-only purchase figure, this indicates £28,750 above the guide before works, service charge, finance, tax and other costs. Actual BRRR viability cannot be confirmed because refurbishment requirements, total acquisition costs and rent are unknown.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The guide-only cost basis is £65,000, but the applicable service charge and any other purchase costs are unknown, so no reliable yield can be calculated.

Flip Analysis

The completed comparables support a base resale estimate of £125,000 and a £115,000–£140,000 evidence range. At the £65,000 guide, the apparent gross spread is £60,000 before refurbishment, service charge, selling costs, finance, tax and the final auction purchase price. A reliable flip surplus cannot be calculated because these costs are not supplied.

Investor Risks & Due Diligence

• The £65,000 figure is an auction guide and not a confirmed purchase price.

• A service charge applies, but its amount is not supplied.

• No condition or refurbishment information is provided, so total project cost is unknown.

• The comparable sales are dated between 2017 and 2021 and may not represent current value.

• No sufficiently specific rental evidence is available, preventing reliable yield analysis.

• EPC, council tax, heating and parking information are not supplied.

Recommendation

Potential value-led purchase for resale or owner occupation, subject to inspection and confirmation of the service charge and total acquisition costs. Do not underwrite BTL or BRRR until rental and cost evidence is obtained.

Strategy Rating

Analysis Confidence

Same-road completed-sale evidence supports a broad GDV range, but the sales are dated and there is no condition, rental, EPC, service-charge amount or detailed fee evidence.