19 Hillside, Chelveston, Wellingborough, Northamptonshire, NN9 6AQ

Description

A Vacant Two Bedroom Semi Detached Bungalow Situated on a Plot of Land Measuring Approximately 0.06 Acres / 235 sq m (2,533 sq ft). Potential for Development (Subject to Obtaining all Relevant Consents). The property requires a program of refurbishment. By Order of a Housing Association.

Accommodation

Ground Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom. Exterior: The property benefits from both front and rear gardens.

Location

The property is situated on a residential road close to local shops and amenities. Numerous green open spaces are within easy reach. Transport links are provided by Wellingborough rail station and the A45.

Tenure / Property Information

Investment Analysis

The closest supplied evidence is 21 Hillside, a freehold semi-detached property, sold for £224,000 in May 2022 and £245,000 in April 2023. It is not the subject property and is described as semi-detached rather than a bungalow, so comparability is limited. A provisional base GDV of £234,500, being the midpoint of the two recent sales, is used with a £224,000–£245,000 evidence range. This is not a formal valuation and does not reflect the subject's unknown refurbishment condition.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, inspecting the bungalow and obtaining a firm refurbishment budget. Subject to those checks, the strongest supported angle is a refurbishment-led BTL or resale, but the evidence is insufficient to set a safe maximum bid.

Works Required

The auction description confirms that a programme of refurbishment is required, but provides no detailed schedule or cost. A survey and legal-pack review are required before pricing works. Any works should be limited to items confirmed by inspection, together with any necessary redecoration, repairs or updating identified by the survey.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the provisional £234,500 base GDV, 75% refinance is £175,875. The strategy cannot be fully costed because the refurbishment allowance, buyer premium and other possible charges are unspecified. Cash left in and true equity are therefore not established. The apparent refinance headroom should not be relied on until condition, valuation and total acquisition costs are confirmed.

Buy-to-Let Analysis

The supplied advertised rental evidence is £1,100–£1,295 pcm, equivalent to £13,200–£15,540 per year. Against the £140,000 guide, the gross yield range is approximately 9.43%–11.10%, with an illustrative midpoint of 10.27%. These are advertised asking rents rather than achieved rents and exclude refurbishment, finance, operating costs and the unspecified buyer premium.

Flip Analysis

The provisional GDV range is £224,000–£245,000. At the £140,000 guide, the gross difference before refurbishment, fees, finance and selling costs is £84,000–£105,000. A net flip surplus cannot be calculated because the refurbishment cost and selling allowance are unsupported.

Investor Risks & Due Diligence

• The property requires refurbishment, but the scope and cost are not provided.

• The sales comparables relate to 21 Hillside rather than the subject property and are described as semi-detached, not specifically bungalows.

• The potential for development is expressly subject to obtaining all relevant consents.

• Buyer premium and possible search, seller, legal, transfer and completion disbursement costs are unspecified.

• Rental figures are advertised asking rents, not achieved or passing rents.

• No EPC, council tax, heating or parking information is supplied.

Recommendation

Proceed only after reviewing the legal pack, inspecting the bungalow and obtaining a firm refurbishment budget. Subject to those checks, the strongest supported angle is a refurbishment-led BTL or resale, but the evidence is insufficient to set a safe maximum bid.

Strategy Rating

Analysis Confidence

There are two recent same-street sales and rental asking evidence, but the comparables are not confirmed as bungalows, the subject condition is unpriced, and buyer premium, other charges and property operating details are missing.