14 Nelson Street, King's Lynn, Norfolk

Description

A Grade II Listed three bedroom terraced house within walking distance of Kings Lynn town centre. The property retains some of its period features and briefly comprises living room, dining room, kitchen and garden room on the ground floor. To the first floor there are three bedrooms and a shower room. Outside there is a private walled courtyard.

Accommodation

Ground Floor: Living room, dining room, kitchen and garden room. First Floor: Three bedrooms and shower room. Outside: Walled courtyard.

Location

Set within the historic quarter of Kings Lynn town, close to the quay and town centre with its range of shopping facilities, amenities, cafes and restaurants. A bus station and mainline railway station to London Kings Cross are within walking distance.

Tenure / Property Information

Investment Analysis

The five same-street freehold terraced comparables sold for £230,000–£320,000, averaging £281,000. A rounded base GDV of £281,000 is used, with low/high scenarios of £260,000 and £320,000 reflecting the supplied sales range. The subject's Grade II Listed status, EPC F rating and unknown condition mean the comparables may not be directly equivalent. The only rental evidence is a generic PE30 asking rent of £1,100 pcm, not an achieved or property-specific rent.

Investment Snapshot

Strategy Recommendation

Conditional buy-to-hold or BRRR assessment only after reviewing the legal pack, survey, Listed Building requirements and actual achievable rent. Do not bid solely from the headline comparable-sales margin.

Works Required

Obtain a building survey and review the legal pack before pricing works. Assess the EPC F position and specify only evidenced repairs or energy improvements, with Listed Building consent considered where required. No refurbishment allowance is estimated because no defects, specifications or quotations are supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV, 75% refinance is approximately £210,750. The apparent GDV margin over the guide is substantial, but cash-left-in cannot be calculated because refurbishment costs, disbursements and other acquisition costs are unknown. Refinanceability may also depend on the Grade II Listing, EPC F rating, condition and lender requirements.

Buy-to-Let Analysis

At the £140,000 guide, the supplied £1,100 pcm asking-rent indicator equates to £13,200 annually and a headline gross yield of 9.43% before finance, management, maintenance, voids, tax and refurbishment. The rent is not achieved, not passing rent and is not specifically tied to this property, so actual BTL performance is unverified.

Flip Analysis

The supplied same-street sales indicate a potential resale value around £281,000, but no supported works budget, selling allowance, legal costs or condition assessment is available. A reliable flip surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• Grade II Listed status may constrain alterations and require consent.

• EPC F may require improvement, but the scope and cost are unknown.

• The £1,100 pcm figure is an advertised area asking rent rather than achieved or passing rent.

• Comparable property condition, size and specification are not supplied.

• Special conditions may create additional search, legal, transfer, seller-cost or other disbursement charges.

• No occupancy, heating or parking information is supplied.

Recommendation

Conditional buy-to-hold or BRRR assessment only after reviewing the legal pack, survey, Listed Building requirements and actual achievable rent. Do not bid solely from the headline comparable-sales margin.

Strategy Rating

Analysis Confidence

There are several relevant same-street completed sales and one rental asking indicator, but no floor area, condition survey, refurbishment costs, property-specific rent, occupancy information or full legal-pack costs.