2 South View, Scots Gap, Morpeth, Northumberland, NE61 4EF

Description

A substantial two-bedroom property occupying an exceptionally generous plot in the rural village of Scots Gap, with extensive gardens, outbuildings and scope for refurbishment, extension or further development subject to the necessary consents. The property offers approximately 96 sq. metres of accommodation and includes a spacious living room, fitted kitchen, ground-floor WC, porch/garden room, two bedrooms, a family bathroom and walk-in cupboard. The plot includes lawned garden areas and detached outbuildings/garages.

Accommodation

Approximately 96 sq. metres comprising a spacious living room, fitted kitchen, ground-floor WC, porch/garden room, two bedrooms to the upper floor, a family bathroom and walk-in cupboard.

Location

Scots Gap is an attractive Northumberland village surrounded by open countryside, accessible to Morpeth, Ponteland and surrounding towns and villages. The A696 provides connections across the region.

Tenure / Property Information

Investment Analysis

The only supplied comparable is a detached freehold property sold in Scots Gap for £405,000 in November 2010. It is not sufficiently current or clearly comparable to support a present-day GDV for this two-bedroom property. A current valuation, survey and planning assessment are required.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the supplied evidence. Obtain a current local valuation, full survey, detailed works budget, planning advice and confirmation of all auction charges before considering a purchase.

Works Required

The description identifies scope for refurbishment, extension or further development, subject to necessary consents. No defects, specification or works schedule is supplied, so no reliable works allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably assessed because no current GDV, refurbishment budget or planning outcome is supplied. The stated 75% refinance proceeds cannot be calculated without a supported GDV. Additional buyer premium and special-condition costs may also reduce available equity.

Buy-to-Let Analysis

The supplied rental evidence is one advertised asking rent of £875 pcm for a two-bedroom house in Morpeth, not an achieved rent or necessarily a direct Scots Gap comparable. This indicates £10,500 annual gross rent and approximately 5.83% gross yield against the £180,000 guide, or 5.72% against the guide plus the stated £3,600 administration charge. These figures exclude finance, maintenance, voids, management, insurance, tax and other auction costs.

Flip Analysis

A flip appraisal cannot be supported. The 2010 comparable is too dated and not sufficiently comparable, while refurbishment, extension or development costs and any resale allowance are unknown. No reliable surplus or maximum bid can therefore be calculated.

Investor Risks & Due Diligence

• The only comparable sale is from 2010 and is a detached property, so it may not represent current value for the subject.

• The condition and cost of refurbishing the property and outbuildings are not evidenced.

• Extension or further development is subject to obtaining the necessary consents.

• The rental figure is an advertised asking rent rather than achieved passing rent and is not specifically for Scots Gap.

• Buyer premium, search fees, seller-cost reimbursement, legal fees, transfer fees and other special-condition charges are not quantified.

• The EPC is ordered and its outcome is unknown.

Recommendation

Do not bid solely on the supplied evidence. Obtain a current local valuation, full survey, detailed works budget, planning advice and confirmation of all auction charges before considering a purchase.

Strategy Rating

Analysis Confidence

The evidence includes a guide price, one dated non-equivalent comparable and one advertised rent, but lacks a current GDV, condition survey, refurbishment cost, planning position, EPC outcome and complete fee schedule.