12A Alma Chase, Terrington St Clement, King's Lynn, Norfolk

Description

A two bedroom semi detached house. Externally the property benefits from off road parking and a rear garden. In need of modernisation. Extension potential subject to requisite consents. Vacant.

Accommodation

Ground Floor - Reception Room, Kitchen. First Floor - Two Bedrooms, Bathroom/WC.

Location

Terrington St Clement is a village in the county of Norfolk. Located on Alan Jarvis Way, accessed off Alma Chase. Amenities are available within the village with a broader range available within the nearby town of King's Lynn (approximately 4.9 miles). A broad range of recreational amenities are available within the surrounding countryside. Transport Kings Lynn - Great Northern.

Tenure / Property Information

Investment Analysis

The strongest available evidence is the £162,000 July 2022 sale of a freehold semi-detached property at 4 Alma Chase. A £105,000 sale of the same comparable in August 2016 provides historical context but is not directly comparable in time. The comparable's bedroom count and condition are unknown, while this property is a vacant two-bedroom house requiring modernisation. £162,000 is therefore an indicative base GDV only, not a formal valuation. There is insufficient evidence to support reliable low and high GDV scenarios.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the auction special conditions, buyer costs, property condition and a detailed modernisation budget. Do not rely on the guide price or indicative GDV alone; current evidence is insufficient to underwrite BTL, BRRR or a flip.

Works Required

Modernisation is required, but the evidence does not specify the scope or condition of individual elements. Extension potential is noted, subject to the requisite consents, but no extension works are assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £162,000 base GDV, 75% refinance would equate to approximately £121,500. The purchase cost, refurbishment allowance and known acquisition costs cannot be completed from the supplied evidence, so cash left in and equity cannot be calculated. The vacant status may assist refurbishment access, but the project economics remain unverified.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Modernisation costs and buyer fees are also unknown, so net investment returns cannot be calculated.

Flip Analysis

A flip appraisal cannot be completed reliably because refurbishment costs, acquisition charges and selling costs are not supplied. The £162,000 base GDV is based on one 2022 local comparable with unknown bedroom count and condition; no flip surplus is therefore calculated.

Investor Risks & Due Diligence

• Modernisation is required, but no detailed condition report or refurbishment cost is provided.

• The comparable sales do not state bedroom count or condition, limiting GDV reliability.

• No sufficiently specific rental evidence or passing rent is available.

• Buyer fees, VAT position and potential seller charges are not supplied.

• Extension potential is subject to the requisite consents and is not included in the appraisal.

• EPC rating E may indicate limited energy efficiency, but improvement requirements and costs are not evidenced.

Recommendation

Proceed only after confirming the auction special conditions, buyer costs, property condition and a detailed modernisation budget. Do not rely on the guide price or indicative GDV alone; current evidence is insufficient to underwrite BTL, BRRR or a flip.

Strategy Rating

Analysis Confidence

There is one relatively relevant 2022 local sale and one older historical sale, but the comparables' bedroom count and condition are unknown. Rent, refurbishment costs, buyer charges and selling costs are unavailable.