2 Victoria Place, Lancaster Road, Great Yarmouth, Norfolk

Description

Ground floor: reception room and kitchen. First floor: two bedrooms and bathroom. Garden. GIA approximately 52 sq m (560 sq ft). The property is within easy reach of local shops, schools and amenities. Within easy reach of Great Yarmouth South Beach.

Accommodation

Ground floor: Reception Room, Kitchen. First floor: Two Bedrooms, Bathroom. Garden. GIA approximately 52 sq m (560 sq ft).

Location

Situated in a well-established and popular residential area. The property is within easy reach of local shops, schools and amenities and Great Yarmouth South Beach.

Tenure / Property Information

Investment Analysis

The supplied comparables are same-street freehold terraced sales, but they are historic (2015–2019), relate to other properties or show significant variation for 5 Victoria Place (£62,000 and £92,000 in 2019). A broad indicative GDV range of £62,000–£92,000 is therefore used, with a £75,000 base case. This is low-confidence because there are no recent sales, condition details or EPC information.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, confirmation of achievable rent and a complete auction-cost schedule. The guide-price BTL headline yield is attractive, but the absence of condition and cost evidence makes a firm bid or flip strategy inappropriate.

Works Required

No specific defects or refurbishment requirements are stated. Obtain a full inspection and contractor budget before bidding; only verified repairs, compliance items and any cosmetic works should be allowed for.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £75,000 base GDV, 75% refinance would be approximately £56,250. The resulting cash position cannot be calculated because refurbishment costs, buyer/admin charges and other acquisition costs are not supplied. The historic comparable evidence makes the GDV assumption uncertain.

Buy-to-Let Analysis

At the £55,000 guide, the advertised £875 pcm rent equates to £10,500 annually and a headline gross yield of approximately 19.09%. This is based on an asking rent, not achieved rent, and excludes finance, voids, management, maintenance, insurance, tax and purchase costs. BTL viability cannot be confirmed without condition, achievable rent and full cost information.

Flip Analysis

A flip case cannot be reliably underwritten because no condition-based works budget, acquisition fees or supported selling allowance is provided. The indicative £62,000–£92,000 GDV range also reflects historic and variable same-street evidence, so resale profit is unquantified.

Investor Risks & Due Diligence

• Historic comparable evidence is dated and shows substantial price variation.

• The £875 pcm figure is an advertised asking rent rather than achieved passing rent.

• Property condition and refurbishment requirements are not provided.

• Buyer premium, admin charge and other potential acquisition costs are unspecified.

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

• Gross yield calculations exclude finance, voids, management, maintenance, insurance and tax.

Recommendation

Proceed only subject to inspection, confirmation of achievable rent and a complete auction-cost schedule. The guide-price BTL headline yield is attractive, but the absence of condition and cost evidence makes a firm bid or flip strategy inappropriate.

Strategy Rating

Analysis Confidence

The property description, guide price, one advertised rent and several historic same-street sales are available, but condition, recent comparables, EPC, operating costs, buyer charges and refurbishment requirements are absent.