1d, Holly Grove Road, HERTFORD, Hertfordshire, SG14 2QH

Description

Freehold end terrace bungalow requiring modernisation. By order of a Major Housing Association.

Accommodation

One bedroom, reception room, kitchen, shower room/WC, hall. Outside: front, side and rear garden. Gross Internal Area GIA: approximately 35 sq m (382 sq ft).

Location

The property is situated on the east side of Holly Grove Road between its junctions with Hertford Road and Main Road. Public transport links include Hertford North mainline rail station together with a network of local bus services serving the surrounding vicinity. Road links include the A10 and A414. Shopping amenities can be found locally within Hertford Town Centre. Recreational pursuits can be found locally throughout the countryside.

Tenure / Property Information

Investment Analysis

The £118,000 guide is the only current pricing evidence. The supplied sold comparables are for a terraced property, not a 35 sq m one-bedroom bungalow, and are from 2001 and 2020, so they do not provide a reliable GDV range. A supported GDV cannot be established.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a detailed inspection, confirmed parking and heating information, a priced refurbishment schedule, and stronger bungalow-specific sales evidence. The advertised rent suggests possible BTL potential, but this is not yet sufficiently evidenced for a firm purchase decision.

Works Required

Modernisation is required, but the evidence does not specify the condition or scope of works. A survey and inspection should establish requirements for the kitchen, shower room/WC, finishes, services, heating and external areas without assuming defects.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably. The property is vacant and requires modernisation, but refurbishment cost and post-works GDV are unsupported. Consequently, the potential 75% refinance amount and cash left in cannot be calculated.

Buy-to-Let Analysis

A Hertford letting agent advertises £1,000 pcm, but this is an asking rent and is not confirmed as achieved or specifically attributable to this bungalow. At that rent, gross annual income would be £12,000 and the gross yield on the £118,000 guide is approximately 10.17%, before refurbishment, finance, management, maintenance, voids, tax and other costs. The yield on total cost cannot be established because refurbishment costs and any additional seller fees are unknown.

Flip Analysis

A flip appraisal cannot be supported because there is no reliable bungalow GDV evidence, no refurbishment budget and no supported selling-cost allowance. The supplied terraced sales are insufficiently comparable for a resale valuation.

Investor Risks & Due Diligence

• Modernisation requirements and costs are unspecified.

• The £1,000 pcm figure is an advertised asking rent rather than achieved rent and is not confirmed as specific to this property.

• The supplied sold comparables are terraced properties and are not directly comparable to this bungalow.

• Parking and heating information require confirmation.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• EPC rating is E, which may be relevant to future letting or improvement requirements.

Recommendation

Proceed only subject to a detailed inspection, confirmed parking and heating information, a priced refurbishment schedule, and stronger bungalow-specific sales evidence. The advertised rent suggests possible BTL potential, but this is not yet sufficiently evidenced for a firm purchase decision.

Strategy Rating

Analysis Confidence

The guide price, tenure, vacant possession, accommodation and one advertised local rent are supplied, but there is no property-specific achieved rent, refurbishment cost, reliable comparable bungalow evidence, GDV or complete fee schedule.