2 Glandfields Cottages, Chelmsford Road, Felsted, Dunmow, Essex

Description

A vacant freehold semi-detached house with a large side and rear garden and driveway situated on the outskirts of this popular village. The property has field views, two reception rooms, kitchen and bathroom on the ground floor, and two bedrooms on the first floor. It has been modified to provide staircase access to a converted loft with windows and cupboards. These works may not be building regulation compliant. The adjoining property No. 1 is also available and the auctioneers reserve the right to offer both properties as a single lot.

Accommodation

Ground Floor: Entrance hall; Living Room (4.71m x 2.78m); Dining Room (4.85m x 3.78m); Kitchen (2.61m x 2.32m); Bathroom (2.32m x 2.0m). First Floor: Bedroom 1 (3.55m x 2.82m); Bedroom 2 (4.83m x 3.0m). Second Floor: Loft Room/Storage space (3.95m x 3.20m).

Location

Situated on the outskirts of Felsted, a popular village, with field views.

Tenure / Property Information

Investment Analysis

The supplied completed sales are all detached properties on Chelmsford Road, whereas this property is a two-bedroom semi-detached cottage. They therefore do not provide a sufficiently reliable basis for estimating market value or GDV. The £275,000 guide is not treated as a valuation. The property is vacant and freehold, with driveway parking, gardens and field views, but the modified loft may not comply with Building Regulations.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and confirming the loft’s regulatory position. Treat the property primarily as a potential owner-occupier purchase and do not set an investment bid limit without better comparable, rental and works evidence.

Works Required

Obtain legal and building-control advice regarding the converted loft, including whether the staircase, windows and cupboards comply and whether retrospective approval is required. Any further works cannot be specified from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because there is no supported GDV, refurbishment budget, rental evidence or finance-cost information. The loft compliance issue should be resolved before relying on any refinance value.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate has been supplied, so rent, yield and BTL affordability cannot be established. The property is vacant, but this alone does not support a rental assumption.

Flip Analysis

A flip analysis cannot be supported. The available comparables are detached rather than semi-detached and no refurbishment budget or selling allowance is supplied, so GDV and resale surplus are indeterminate.

Investor Risks & Due Diligence

• The converted loft may not have Building Regulations compliance or approval.

• The adjoining property, No. 1, may be offered together with this property as a single lot.

• Buyer premium and admin charge total £2,400 including VAT, with possible additional disbursements and legal-pack charges.

• No sufficiently specific rental evidence is available.

• The supplied sold comparables are detached properties and may not be representative of this semi-detached cottage.

Recommendation

Proceed only after reviewing the legal pack and confirming the loft’s regulatory position. Treat the property primarily as a potential owner-occupier purchase and do not set an investment bid limit without better comparable, rental and works evidence.

Strategy Rating

Analysis Confidence

Property details, tenure, occupancy and auction charges are supplied, but the comparables are materially different detached properties and there is no specific rent, GDV, refurbishment cost or selling-cost evidence.