2 Barras Cottages, Liskeard, Cornwall

Description

A three bedroom mid terrace house. Externally the property benefits from front and rear garden. Presented in clean decorative order. Vacant.

Accommodation

Ground Floor - Reception Room, Kitchen. First Floor - Three Bedrooms, Bathroom/WC.

Location

The property is situated at Barras Cottages near Liskeard, within the county of Cornwall. Local shops and everyday services are available within Liskeard town centre, along with schools community amenities. Recreational amenities include nearby countryside walks and open spaces such as Pengover Park. Transport links include Liskeard station and the A38. Transport Liskeard - CrossCountry, GWR.

Tenure / Property Information

Investment Analysis

The strongest evidence is the sale of 3 Barras Cottages, a freehold terraced property, for £150,000 on 27 April 2022. This is a reasonably relevant nearby comparable, but it is dated and no floor area, condition detail or direct verification of similarity is supplied. Other evidence includes 1 Barras Cottages at £91,000 in 2019, but that sale is older and may not be directly comparable. A provisional base GDV of £150,000 is therefore indicated, subject to current market and condition verification. The £110,000 guide is approximately 26.7% below that provisional comparable figure before buyer fees and any other costs.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the property’s current condition, legal pack, all auction charges and current local value. The evidence suggests potential value at the guide, but is insufficient to justify a firm investment bid or rental strategy.

Works Required

The property is described as being in clean decorative order, and no specific defects or required works are evidenced. Allow for inspection, compliance checks and only any remedial or cosmetic works identified by survey or viewing; no refurbishment allowance can be reliably quantified from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A provisional £150,000 GDV is supported by the 2022 sale of 3 Barras Cottages, implying 75% of GDV of £112,500. However, refurbishment costs, acquisition charges and finance/tax costs are not supplied, so cash left in and the viability of a refinance are unquantified.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant, but buyer fees, any VAT and seller charges are also unknown, so total acquisition cost cannot be calculated reliably.

Flip Analysis

The historic nearby comparable indicates a possible resale benchmark of £150,000, against the £110,000 guide. A reliable flip surplus cannot be calculated because refurbishment costs, buyer fees, VAT, seller charges and resale costs are not evidenced. The comparable is also dated and may not reflect current value.

Investor Risks & Due Diligence

• The principal comparable is dated April 2022 and may not reflect current market value.

• No sufficiently specific rental evidence is available, preventing yield analysis.

• Buyer premium, VAT applicability and any seller charges are not quantified.

• No survey-level detail or refurbishment cost evidence is supplied despite the need to verify condition.

• The legal pack and Special Conditions of Sale may contain additional obligations or costs not provided here.

Recommendation

Proceed only after confirming the property’s current condition, legal pack, all auction charges and current local value. The evidence suggests potential value at the guide, but is insufficient to justify a firm investment bid or rental strategy.

Strategy Rating

Analysis Confidence

There is one reasonably relevant 2022 nearby sale and older supporting sales, but no current comparable evidence, rental evidence, floor area, detailed condition report, buyer fee, seller charges or refurbishment costs.