200 & 200b Fleet Road, Holbeach, Spalding, Lincolnshire

Description

Former supported living accommodation comprising three detached buildings, each providing self-contained living accommodation for up to six people in total. Possible potential for alternative uses and/or reconfigure or development, subject to consents. Gardens and parking. Total approximate GIA 283 sq m (3,046 sq ft). Total approximate site area 0.18 hectares (0.45 acres).

Accommodation

Three detached buildings, each providing self-contained living accommodation for up to six people in total; total approximate GIA 283 sq m (3,046 sq ft).

Location

The property is situated on the south side of Fleet Road. Local shops and amenities are available within Holbeach. Further facilities are available in Spalding and Wisbech. The A17, A16 and A47 are all easily accessible. Spalding rail station, with East Midlands Railway services, is approximately 10 miles to the west.

Tenure / Property Information

Investment Analysis

The £325,000+ guide is above the supplied nearby completed sales at £205,000, £230,000 and £295,000, but those properties are not directly comparable with this unusual former supported-living holding comprising three detached buildings, approximately 3,046 sq ft and 0.45 acres. The available evidence does not establish a reliable GDV, particularly because alternative uses, reconfiguration or development require consents and no condition, accommodation schedule or planning evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after specialist planning, use-class, condition and valuation due diligence. Treat the lot as a high-uncertainty potential conversion or alternative-use project rather than relying on a conventional BTL appraisal.

Works Required

Obtain measured accommodation and condition information; assess the existing three-building layout; investigate any reconfiguration or alternative-use proposals; and obtain all necessary planning and other consents. No specific repair works or defects are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable because no reliable GDV, refurbishment budget, subject rent, finance costs or applicable buyer/admin fees are supplied. Refinance potential would also depend on the existing use and any proposed changes receiving consent.

Buy-to-Let Analysis

The only rental evidence is an advertised £1,400 pcm asking rent for a 3-bedroom property, which is not demonstrated to be comparable with this former supported-living accommodation. A reliable subject rent and BTL yield therefore cannot be established.

Flip Analysis

A flip appraisal cannot be reliably quantified. The supplied sales provide broad local context only and do not evidence the resale value of this three-building former supported-living property. Works, consents, selling costs and a supported GDV are unavailable.

Investor Risks & Due Diligence

• Alternative uses, reconfiguration or development are expressly subject to consents.

• The former supported-living use and three-building layout make the supplied residential comparables weak evidence of value.

• No condition, EPC, heating, council tax or detailed accommodation information is supplied.

• The £1,400 pcm rental evidence relates to an advertised three-bedroom property and may not apply to this asset.

• Additional seller or third-party charges may apply, but no amounts are provided.

• The guide price exceeds all supplied completed sales, although the properties are not directly comparable.

Recommendation

Proceed only after specialist planning, use-class, condition and valuation due diligence. Treat the lot as a high-uncertainty potential conversion or alternative-use project rather than relying on a conventional BTL appraisal.

Strategy Rating

Analysis Confidence

Basic tenure, size, site area, occupancy, description, guide price and local sales are supplied, but there is no EPC, condition report, accommodation schedule, planning evidence, reliable subject rent, refurbishment budget, GDV or buyer/admin fee information.