167 High Street, Worle, North Somerset, BS22 6JA

Description

Freehold 3-bedroom semi-detached cottage arranged over 2 floors, with 1,058 sq ft of accommodation, set within a large level 0.21-acre plot of brownfield land. The property requires modernisation and has potential for a fine home or investment. There is further scope to extend or convert into flats or an HMO. The land has residential development potential, with indicative plans for 3 new dwellings positively received at pre-application stage.

Accommodation

1,058 sq ft arranged over 2 floors; 0.21-acre plot

Location

Located in central Worle, with parks, children's playgrounds, schools and shops within easy access. Weston-super-Mare provides further amenities and access to the M5 and Bristol.

Tenure / Property Information

Investment Analysis

The £195,000+ guide is supported only by a single £120,000 2001 sale of 169 High Street, which is too old to establish current market value. The property has 1,058 sq ft, a 0.21-acre plot and stated development potential, but no current comparable sales, GDV evidence, planning permission or refurbishment budget is supplied. Current value and maximum bid therefore cannot be reliably established.

Investment Snapshot

Strategy Recommendation

Proceed only subject to planning, building-survey, development-feasibility and cost due diligence. On the supplied evidence, treat it as a potential modernisation and development opportunity rather than bidding solely on the stated yield or indicative planning potential.

Works Required

Modernisation of the existing three-bedroom house is required, but no specific defects or scope are supplied. Any extension, flat conversion, HMO conversion or additional dwellings would require separate planning, design and cost assessment.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably assessed because no current GDV, refurbishment cost, refinance valuation or finance assumptions are supplied. The stated residential development potential is only supported by positive pre-application feedback, not an implemented planning consent.

Buy-to-Let Analysis

Advertised three-bedroom rents in BS22 range from £1,300 to £1,750 pcm, implying approximately 8.00% to 10.77% gross yield against the £195,000 guide before refurbishment, purchase costs, finance, voids and management. These are asking rents rather than achieved rents, and no refurbishment allowance is available, so net returns cannot be established.

Flip Analysis

A flip surplus cannot be calculated because no current resale value, refurbishment budget or selling-cost allowance is supplied. The 2001 comparable is not sufficient evidence for a current GDV.

Investor Risks & Due Diligence

• The property requires modernisation, but no reliable refurbishment cost is supplied.

• The proposed three-dwelling scheme has only received positive pre-application feedback and is not stated to have planning permission.

• Flat conversion, HMO use and extension potential are unconfirmed and may require planning and other consents.

• The rental evidence comprises advertised asking rents rather than achieved or passing rents.

• The guide is £195,000+++ and the £1,800 buyer premium applies on exchange; search costs are also payable.

• EPC rating F may require improvement or further assessment before letting, subject to applicable requirements.

• The only sold comparable supplied completed in 2001 and cannot reliably establish current market value.

Recommendation

Proceed only subject to planning, building-survey, development-feasibility and cost due diligence. On the supplied evidence, treat it as a potential modernisation and development opportunity rather than bidding solely on the stated yield or indicative planning potential.

Strategy Rating

Analysis Confidence

The listing provides accommodation, tenure, plot size, guide price and asking-rent evidence, but lacks current comparable sales, GDV, works costs, achieved rent, planning consent and complete purchase-cost information.