13 Douglas Place, Ravensmere, Beccles, Suffolk

Description

Vacant hall entrance terraced house situated in the centre of the Suffolk town of Beccles. The house require some modernisation and remedial works are needed. This vacant terraced house is situated in the centre of the thriving market town of Beccles. The house is in need of modernisation and requires remedial works so is offered to CASH BUYERS ONLY.

Accommodation

Ground floor: entrance hall, sitting room, dining room, kitchen and bathroom. First floor: landing, two bedrooms and bathroom. Outside: walled front garden leading to the entrance; shared access leading to the rear garden, which is bisected and offers space for a garden shed to be erected if required.

Location

Situated in the centre of the thriving market town of Beccles, Suffolk.

Tenure / Property Information

Investment Analysis

The latest supplied comparable is 3 Douglas Place at £155,000 in September 2024. Older same-street sales range from £87,500 to £148,000 but are less current. A supported GDV range is £148,000–£155,000, with £155,000 used as the base case; condition and size differences are unknown.

Investment Snapshot

Strategy Recommendation

Proceed only if the legal pack and inspection support a price materially below the evidence-supported GDV after allowing for fully quantified remedial works and fees. Do not rely on the stated rent until refurbishment is complete.

Works Required

Modernisation and remedial works as identified in the description. The evidence does not specify the defects, scope or cost, so no detailed schedule or refurbishment allowance is estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £155,000 base GDV, 75% refinancing is approximately £116,250. Cash left in cannot be calculated because refurbishment costs and total acquisition cost are unknown. The cash-buyers-only requirement and remedial works increase funding risk.

Buy-to-Let Analysis

Indicative advertised rents are £826–£1,195 pcm; the auctioneer estimates £12,000 pa after refurbishment. Against the £120,000 upper guide, this implies approximately 8.26%–11.95% gross yield, or 10.00% using the auctioneer estimate. Net yield cannot be established because costs and refurbishment expenditure are unknown.

Flip Analysis

A potential resale value is indicated by the £155,000 September 2024 same-street sale, but flip surplus cannot be calculated without a supported works budget, acquisition price and selling-cost allowance.

Investor Risks & Due Diligence

• Remedial works are required but their scope and cost are unspecified.

• Cash buyers only, creating a significant funding requirement.

• Buyer premium and admin charge total £2,340, with possible additional legal-pack disbursements.

• Rental evidence is advertised asking rent and the £12,000 pa figure is an auctioneer estimate, not passing rent.

• The latest comparable may differ in size, condition and specification.

Recommendation

Proceed only if the legal pack and inspection support a price materially below the evidence-supported GDV after allowing for fully quantified remedial works and fees. Do not rely on the stated rent until refurbishment is complete.

Strategy Rating

Analysis Confidence

There is a recent same-street completed sale and rental evidence, but property size, detailed condition, works cost, legal-pack disbursements and achieved rent are unavailable.