20, Hawthorn Avenue, Lowestoft, Suffolk

Description

An opportunity to acquire a well-proportioned three-bedroom mid-terraced home, ideally situated in a popular residential area of South Lowestoft. The property has been in the same ownership for many years and presents an excellent opportunity for those looking to modernise and add value, making it a fantastic investment or project purchase. The local area offers access to local amenities and the main town centre offers an array of high street shops, business and leisure facilities as well as access to the port and the beautiful beaches and attractions.

Accommodation

Ground floor: Entrance Hall, stairs to first floor, lounge, dining room, kitchen. First floor: Landing, three bedrooms, bathroom, separate W.C. Exterior: Front driveway providing off road parking, pedestrian access to enclosed rear garden, brick outbuilding.

Location

Located within a popular residential area of South Lowestoft. The local area offers access to local amenities and the main town centre, with high street shops, business and leisure facilities, the port, beaches and attractions.

Tenure / Property Information

Investment Analysis

The three more recent same-street completed sales range from £135,000 to £176,000, with a median of £161,500 and average of £157,500. A base GDV of £161,500 is used, with £135,000 low and £176,000 high scenarios. The evidence is limited by differing sale dates and no property-specific condition or size comparison details.

Investment Snapshot

Strategy Recommendation

Potentially suitable as a value-add BTL or refurbishment project, but proceed only after inspection, confirmation of works and review of special-condition fees. Do not set a maximum bid until refurbishment and transaction costs are known.

Works Required

Modernisation is indicated by the auction description, but no specific defects, scope or contractor costs are supplied. A survey and inspection should establish the required works before bidding; the EPC is E and heating details are unavailable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV of £161,500, a 75% refinance would be approximately £121,125. Because refurbishment costs and total acquisition costs are not supplied, the cash required and cash left in cannot be calculated reliably. EPC E, unspecified heating and the stated need to modernise require investigation.

Buy-to-Let Analysis

Using the £975 pcm Lowestoft advertised asking rent, annual gross rent is £11,700 and the gross yield on the £90,000 guide is approximately 13.0%. This is based on an asking rent rather than achieved rent and excludes refurbishment, finance, tax, insurance, maintenance, voids and other costs. The required works are not quantified, so a reliable total-cost yield cannot be established.

Flip Analysis

The evidence supports a base resale scenario of £161,500, with a £135,000 to £176,000 range from same-street completed sales. A flip surplus cannot be calculated because refurbishment costs, selling costs and any applicable seller fees are not provided.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but the scope and cost of works are unknown.

• EPC rating is E and heating details are unavailable.

• The £975 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The £1,800 inclusive-of-VAT contract documentation fee applies, and additional seller fees may be payable under the special conditions.

• The guide price is not a valuation and the eventual auction price is uncertain.

• No buyer premium or detailed acquisition-cost information is supplied.

Recommendation

Potentially suitable as a value-add BTL or refurbishment project, but proceed only after inspection, confirmation of works and review of special-condition fees. Do not set a maximum bid until refurbishment and transaction costs are known.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and one relevant Lowestoft asking rent, but condition, refurbishment costs, heating, achieved rent, buyer premium and possible seller fees are incomplete or unavailable.