177 Watling Street, Brownhills, Walsall

Description

A vacant freehold semi detached property with development potential, subject to obtaining the necessary planning consents. A semi detached property, standing back from the road behind a driveway and foregarden. The property benefits from double glazing however, is in need of modernisation throughout.

Accommodation

Ground Floor: Hall, Two Reception Rooms, Kitchen, Store. First Floor: Landing, Three Bedrooms, Bathroom, separate WC. Outside: Gardens.

Location

177 Watling Street, Brownhills, Walsall.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of nearby 176 Watling Street for £180,000 in April 2024, also a freehold semi-detached property. 166A Watling Street sold for £245,000 in October 2022, while older evidence includes £163,000 for 169 Watling Street in 2007. The £180,000 sale is used as the base GDV, with £163,000 and £245,000 shown as evidence-based low and high scenarios. The comparables do not provide detailed size, condition or specification, so the range is indicative only; the subject is stated to require modernisation throughout.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led resale, subject to survey, detailed costings and confirmation of planning requirements. Do not proceed on the guide price alone without establishing the full project budget and resale assumptions.

Works Required

Modernisation throughout, subject to inspection and contractor quotations. The evidence supports considering refurbishment of the two reception rooms, kitchen, bathroom, separate WC and general internal finishes, but does not identify specific defects or provide a costed scope. Any proposed development is subject to obtaining the necessary planning consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The indicative base GDV is £180,000, implying 75% GDV refinance proceeds of £135,000. A BRRR assessment cannot establish cash left in or equity because refurbishment costs, finance costs, purchase costs beyond the £2,700 administration charge, and achievable rent are not supplied.

Buy-to-Let Analysis

A BTL appraisal cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. The property is vacant and requires modernisation, so achievable rent and letting-readiness remain unverified.

Flip Analysis

The 2024 nearby completed sale supports an indicative £180,000 base GDV, but refurbishment costs, purchase cost assumptions beyond the £49,000 guide, selling costs and any other completion costs are unavailable. Flip surplus and a defensible maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• The property is stated to require modernisation throughout, but no survey or quantified works schedule is supplied.

• Development potential is expressly subject to obtaining the necessary planning consents.

• No sufficiently specific rental evidence is available, preventing a reliable BTL yield calculation.

• The £2,700 administration charge is payable at auction, and additional costs may be listed in the legal pack.

• Comparable sales vary materially in date and price, and their size and condition are not supplied.

• Heating information is not provided.

Recommendation

Potential refurbishment-led resale, subject to survey, detailed costings and confirmation of planning requirements. Do not proceed on the guide price alone without establishing the full project budget and resale assumptions.

Strategy Rating

Analysis Confidence

There is a recent nearby completed sale and clear tenure, occupancy and accommodation evidence, but no refurbishment costings, rental evidence, detailed comparable specifications, heating information, planning outcome or full legal-pack costs.