18 Towers Road, Heybridge, Maldon, Essex, CM9 4AP

Description

REFURBISHMENT OPPORTUNITY: A VACANT FREEHOLD 3 BED SEMI DETACHED HOUSE REQUIRING REFURBISHMENT THROUGHOUT ON A GENEROUS PLOT WITH PARKING. Situated in a desirable residential area, this renovation project has been largely stripped back offering a clean slate for a full refurbishment project. This property benefits from a generous plot with ample space for a side extension, subject to obtaining necessary consents. There is off street parking for three to four cars plus a good sized rear garden.

Accommodation

Entrance Porch; Entrance Hall; Lounge - 11'9 x 9'2; Dining Room - 15'2 x 11'3; Kitchen - 14'10 x 6'9; Storage - 11'7 x 6'6; External WC; First Floor Landing; Bedroom One - 11'9 x 9'2; Bedroom Two - 11'10 x 11'2; Bedroom Three - 10'3 x 7'10; Bathroom/WC

Location

Situated in a desirable residential area.

Tenure / Property Information

Investment Analysis

The latest supplied same-road comparable, 16 Towers Road, sold for £295,000 in August 2024. Other supplied same-road evidence ranges from £210,000 to £290,000 but is older. A provisional evidence-based GDV range is £290,000–£295,000, subject to the property's full refurbishment requirement and no confirmed extension consent.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining a detailed refurbishment survey and priced works schedule; do not bid based solely on the apparent guide-to-GDV discount.

Works Required

Full refurbishment throughout, supported by the description that the property has been largely stripped back. Specific building, services and finish requirements are not evidenced. Any side extension would require the necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a provisional £295,000 GDV, 75% refinance is approximately £221,250. Cash left in cannot be calculated because refurbishment costs, fees and total project cost are unsupported.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Refurbishment costs and buyer fees are also unknown.

Flip Analysis

The guide is £210,000 against the latest supplied same-road sale at £295,000, but the property requires refurbishment throughout and is sold plus fees. A reliable flip surplus cannot be calculated without refurbishment and selling-cost allowances.

Investor Risks & Due Diligence

• Property is vacant and requires refurbishment throughout.

• The property has been largely stripped back, with the extent and cost of remaining works unknown.

• No sufficiently specific rental evidence is available.

• Auction fees are stated but not quantified.

• Any side extension is subject to obtaining necessary consents.

• EPC, council tax and heating information are not supplied.

Recommendation

Proceed only after obtaining a detailed refurbishment survey and priced works schedule; do not bid based solely on the apparent guide-to-GDV discount.

Strategy Rating

Analysis Confidence

Same-road sales evidence exists, but refurbishment costs, rent, EPC, buyer fees, services condition and full property-specific valuation evidence are absent.