13 Broad Street, Sheerness, Kent, ME12 1PY

Description

Freehold two floor mid terrace house requiring updating. By order of Mountview Estates PLC.

Accommodation

First floor: Three bedrooms. Ground floor: Two reception rooms, kitchen, bathroom/WC. Outside: Rear garden.

Location

The property is situated on Broad Street opposite its junction with Russell Street. Public transport links include Sheerness-on-Sea Train Station with road links being provided by the A249 which links to the M2 Motorway. Local shops are available close by with a wider range of shops, cafes and restaurants to be found in central Sheerness.

Tenure / Property Information

Investment Analysis

HM Land Registry evidence on the same street ranges from £100,000 to £200,000, with the most recent sale at £200,000 on 20 March 2025 and another sale at £150,000 on 14 April 2023. The comparable properties are not accompanied by bedroom, condition or specification details, so the subject’s updating requirement cannot be precisely adjusted. A broad evidence-based scenario range of £150,000–£200,000 is used, with £175,000 as a cautious base GDV.

Investment Snapshot

Strategy Recommendation

Treat as a potential value-add project, but proceed only after confirming the works scope, legal-pack obligations, seller fees and achievable resale value. Do not rely on the guide-to-GDV gap alone.

Works Required

General updating is stated as required, but no detailed schedule of works, defects or specification is supplied. Obtain an inspection, contractor quotations and legal-pack review before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £115,000 guide, the known £1,800 contract documentation fee gives a minimum identified acquisition outlay of £116,800 before any works, other seller fees, finance and tax. A 75% refinance against the £175,000 base GDV would be £131,250, but cash left in cannot be calculated because works and other completion costs are unknown.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. The property is vacant, and refurbishment and total acquisition costs are also unquantified.

Flip Analysis

The evidence indicates potential GDV between £150,000 and £200,000, against the £115,000 guide. However, updating costs, seller fees, selling costs and condition are not supplied, so a reliable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• The property requires updating, but no detailed condition report or works budget is supplied.

• No sufficiently specific rental evidence is available, preventing a supported yield assessment.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• Parking and heating details are unconfirmed.

• Comparable sale details do not state bedroom count or condition, limiting GDV precision.

• Vacant possession is stated, but holding and refurbishment costs during the project are not supplied.

Recommendation

Treat as a potential value-add project, but proceed only after confirming the works scope, legal-pack obligations, seller fees and achievable resale value. Do not rely on the guide-to-GDV gap alone.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and a clear guide price, but the comparables lack condition and bedroom detail, while rent, works costs, parking, heating and possible seller fees remain unresolved.