20, The Ridgeway, FAVERSHAM, Kent, ME13 9BD

Description

Freehold three floor semi-detached house. Full vacant possession. 3D Tour available.

Accommodation

Second floor: Bedroom. First floor: Two bedrooms. Ground floor: Two reception rooms, kitchen, bathroom/WC. Outside: Rear garden.

Location

The property is situated on The Ridgeway. Within close proximity to Faversham Town Centre which offers transport links including Faversham Railway Station, providing access into London, as well as an extensive range of shopping amenities, bars and restaurants. Further amenities and transport links can be found at Canterbury to the south west. Recreational pursuits locally include Boughton Golf Club and Faversham Recreation Ground.

Tenure / Property Information

Investment Analysis

The strongest evidence is 14 The Ridgeway, a semi-detached freehold property in the same postcode, sold for £210,000 on 13 September 2024. A further same-road sale completed for £230,000 in 2020, although it is older evidence. The £199,000 guide is below the most recent comparable. A cautious indicative GDV range is £199,000–£230,000, with £210,000 as the base case. No condition, floor area, parking or internal specification evidence is supplied, so this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after viewing, legal review and a full costed inspection. The evidence supports potential value at or above the guide, but insufficient rental and works data means neither BTL, BRRR nor flipping can currently be underwritten safely.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a full viewing, survey and inspection of the kitchen, bathroom, heating, roof, windows, services and garden before budgeting works. The property is vacant and has an EPC rating of D.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance of the £210,000 base GDV would indicate £157,500 of gross borrowing before lender costs and finance considerations. Total project cost cannot be calculated because refurbishment costs and any seller-charged completion fees are unknown. BRRR viability therefore cannot be confirmed.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The known guide price is £199,000 and the buyer administration charge is £1,800 inclusive of VAT, but refurbishment, finance, operating costs and rent remain unknown.

Flip Analysis

The most relevant completed sale supports a base resale indication of £210,000 against the £199,000 guide. However, refurbishment costs, acquisition costs beyond the known £1,800 administration charge, selling costs and any seller-charged completion fees are not fully evidenced, so a reliable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence, preventing reliable yield analysis.

• Internal condition and refurbishment requirements are not evidenced.

• Seller may charge additional completion fees under the Special Conditions of Sale.

• Parking and heating details require confirmation from the auction centre.

• The comparable evidence is limited, with only one recent same-road sale and one older 2020 sale.

Recommendation

Proceed only after viewing, legal review and a full costed inspection. The evidence supports potential value at or above the guide, but insufficient rental and works data means neither BTL, BRRR nor flipping can currently be underwritten safely.

Strategy Rating

Analysis Confidence

Recent same-road completed-sale evidence is available, but there is no property-specific floor area, condition survey, rental evidence, detailed parking/heating information or complete fee schedule.