160 & 160a Cromwell Road, Rushden, Northamptonshire, NN10 0EF

Description

A Vacant Mixed Use Corner Building Arranged to Provide a Two Bedroom House with a Ground Floor Commercial Unit to the Rear. Potential for Development (Subject to Obtaining all Relevant Consents). The property comprises a mixed use corner building arranged to provide a two bedroom house with a ground floor commercial unit to the rear. Plans have been drawn up for the erection of 3 x ground floor one bedroom flats and 2 x first floor one bedroom flats. No planning application has been submitted for this scheme. Drawings of the proposed plans are available for inspection upon request. Auction House London make no representations or warranties with regard to this scheme and/or the validity of the aforementioned plans. Buyers must rely on their own enquiries with regard to any development potential, permissions required and any previous planning history in respect of this site.

Accommodation

Commercial: Ground Floor: Commercial Space, Two Office Rooms, Kitchen, Storage Rooms, WC's. Residential: Ground Floor: Reception Room. First Floor: Kitchen, Two Bedrooms, Bathroom, Utility Area. Total G.I.A Approx 177 sq m (1,906 sq ft).

Location

The property is situated on a mixed use road close to local shops and amenities. The open spaces of Hall Park are within easy reach. Transport links are provided by Wellingborough rail station.

Tenure / Property Information

Investment Analysis

Indicative current mixed-use value is based on the exact-address completed sale at £166,687 and nearby Cromwell Road sales of £173,000, £175,000 and £185,000. A £175,000 base estimate is used, but this is not a validated development GDV: the proposed five-flat scheme has no planning application and the commercial element creates uncertainty.

Investment Snapshot

Strategy Recommendation

Proceed only after legal, survey and planning due diligence. Treat as a cautious mixed-use hold or owner-occupier opportunity, not an assumed five-flat development.

Works Required

No specific defects or refurbishment works are evidenced. Obtain building surveys, verify residential and commercial compliance, and investigate planning and viability of the proposed flats before committing to works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £175,000 base value, 75% refinancing equates to £131,250. Against the guide and known admin charge, indicative cash left in is £20,550 before finance, tax, works and other auction costs. Unknown refurbishment and special-condition costs make the outcome unreliable.

Buy-to-Let Analysis

The only rental evidence is an advertised £386 pcm asking rent for a two-bedroom property in NN10, producing £4,632 annually. Against the £150,000 guide this is approximately 3.09% gross, or 3.05% against the guide plus the known £1,800 admin charge. Rent suitability and commercial income are unverified.

Flip Analysis

Nearby completed sales support a broad £166,687–£185,000 value range, but no refurbishment cost, selling allowance or validated development value is available. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Proposed five-flat scheme has no planning application and no guarantee of consent.

• Refurbishment and compliance costs are unknown.

• Commercial income and suitability are unverified.

• The £386 pcm rent is an advertised asking rent for another property, not achieved rent for this asset.

• Special-condition fees, legal costs, searches, disbursements and transfer fees are unspecified.

• Mixed-use valuation is uncertain because comparable evidence is primarily residential.

Recommendation

Proceed only after legal, survey and planning due diligence. Treat as a cautious mixed-use hold or owner-occupier opportunity, not an assumed five-flat development.

Strategy Rating

Analysis Confidence

There are completed local sales and limited rental evidence, but no condition report, planning consent, commercial rent, EPC, full costs or validated development appraisal.