20 The Struet, Brecon, LD3 7LL

Description

A Grade II listed, mixed use property comprising a ground floor commercial unit with a spacious, two bedroom apartment above. The property is located in the town centre of Brecon. The ground floor unit benefits from the main retail / office area, a kitchen and WC. The apartment, which is over two floors, benefits from private access, two good sized bedrooms, living room, kitchen, bathroom and WC. The property is sold with vacant possession.

Accommodation

Ground floor: main retail / office space (6.01m x 4.35m), kitchen (3.87m x 3.77m) and WC. First floor: living room, kitchen, bathroom and WC. Second floor: two bedrooms. Third floor: loft room and loft space. Outside: passageway to rear entrance.

Location

Located in the town centre of Brecon.

Tenure / Property Information

Investment Analysis

The guide price is £99,000. Same-street Land Registry sales range from £140,000 to £235,000, including £187,000 at 14 The Struet in September 2024. However, the evidence describes those properties only as freehold terraces and does not establish their accommodation, condition, use or comparability with this Grade II listed mixed-use property. A supported GDV or maximum bid cannot therefore be calculated. Known auction costs at the guide are £2,700: the £600 buyer premium plus the £2,100 minimum administration charge, before any other seller, legal, search or transfer costs.

Investment Snapshot

Strategy Recommendation

Do not bid on yield or resale assumptions until separate residential and commercial valuations, a listed-building survey and rental evidence are obtained. Proceed only if due diligence supports the mixed-use value and the total acquisition budget remains acceptable.

Works Required

No specific defects or required works are evidenced. Obtain a building survey, listed-building advice and commercial/residential compliance review before bidding. Any works should be limited to those identified by those investigations and properly consented for the Grade II listed building.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without supported market value, rent, refurbishment cost and finance assumptions. The £99,000 guide plus at least £2,700 of stated auction charges is not sufficient to establish an all-in cost or refinance outcome. Grade II listing and mixed use may increase appraisal, consent and lender complexity.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. The property combines a vacant ground-floor commercial unit with a two-bedroom apartment, so residential and commercial letting assumptions would need separate evidence. The £99,000 guide excludes the £600 buyer premium, minimum £2,100 administration charge and other possible costs.

Flip Analysis

A flip surplus cannot be calculated. Although same-street completed sales range from £140,000 to £235,000, the supplied evidence does not confirm that they are comparable to this mixed-use, Grade II listed property or provide refurbishment and selling-cost allowances. A sale strategy should follow a survey, valuation and confirmation of any required consents.

Investor Risks & Due Diligence

• Grade II listed status may restrict alterations and require additional consents.

• Mixed-use ownership creates separate residential and commercial letting, valuation and lending considerations.

• The property is vacant and no passing rent is evidenced.

• No condition report or refurbishment budget is supplied.

• Same-street sold comparables are not sufficiently detailed to confirm direct comparability.

• Additional auction, legal, search, seller-cost reimbursement and transfer charges may apply.

Recommendation

Do not bid on yield or resale assumptions until separate residential and commercial valuations, a listed-building survey and rental evidence are obtained. Proceed only if due diligence supports the mixed-use value and the total acquisition budget remains acceptable.

Strategy Rating

Analysis Confidence

The guide, tenure, accommodation, occupancy, auction charges and same-street completed sales are supplied, but there is no rental evidence, condition/works budget, detailed comparable information, formal valuation or supported selling allowance.