21 Avenue Approach, Bury St. Edmunds, Suffolk

Description

Vacant freehold mid terrace house by order of a Housing Association. The Vendor will not accept offers prior to auction.

Accommodation

Ground floor: two reception rooms and kitchen. First floor: two bedrooms and bathroom. Cellar: storage. Rear garden. GIA including cellar approximately 79.06 sq m (851 sq ft).

Location

Located on the south side of Avenue Approach, to the east of its junction with Northgate Avenue. The shops and amenities of Bury St Edmunds are to the south. Bury St Edmunds rail station is approximately 0.5 miles to the south east. The A14 is to the south. Tayfen Meadow is to the south west.

Tenure / Property Information

Investment Analysis

The five supplied completed sales on Avenue Approach range from £275,000 to £327,500, with an arithmetic average of £306,000. The subject is also a terraced freehold house, but the comparables’ bedroom numbers, sizes and condition are not provided, so £306,000 is an indicative comparable-based base GDV rather than a formal valuation. The low and high scenarios use the observed comparable range.

Investment Snapshot

Strategy Recommendation

Potentially suitable for BTL or BRRR at the guide, subject to inspection, legal review, confirmed costs and achieved-rent validation. Do not bid on the comparable-value spread alone, and do not proceed without establishing the required works and all auction-related charges.

Works Required

No condition or specification of required works is provided. Obtain a full inspection and budget only evidenced works; no refurbishment allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative £306,000 base GDV, 75% refinance is approximately £229,500. This suggests potential refinance headroom against the £170,000 guide, but the cash requirement and actual refinance outcome cannot be calculated because refurbishment costs, acquisition charges, finance costs, valuation and lender criteria are unknown.

Buy-to-Let Analysis

The supplied advertised asking rents are £1,150–£1,250 pcm. Using the midpoint of £1,200 pcm gives estimated annual rent of £14,400 and a gross yield of approximately 8.47% against the £170,000 guide. The yield on total project cost cannot be established because works, buyer/admin charges and other possible fees are not supplied. Advertised rents are not achieved rents.

Flip Analysis

The comparable-based base GDV of £306,000 is materially above the £170,000 guide, but no condition, refurbishment cost, buyer charges or selling allowance is supplied. A reliable flip surplus and maximum bid therefore cannot be calculated. The comparable range is £275,000–£327,500 and may not reflect this property’s condition or exact characteristics.

Investor Risks & Due Diligence

• The property is sold by auction and the vendor will not accept offers prior to auction.

• Condition and required works are not provided, including the condition of the cellar, roof, services and internal finishes.

• Buyer premium, admin charge and possible seller or third-party fees are not quantified.

• The comparable sales do not include bedroom count, floor area or condition, limiting the reliability of the GDV range.

• Advertised rental figures may not be achieved rents.

• EPC, council tax, parking and heating information is not provided.

Recommendation

Potentially suitable for BTL or BRRR at the guide, subject to inspection, legal review, confirmed costs and achieved-rent validation. Do not bid on the comparable-value spread alone, and do not proceed without establishing the required works and all auction-related charges.

Strategy Rating

Analysis Confidence

There is useful same-street completed-sale and rental evidence, but condition, comparable specifications, EPC, running costs, buyer/admin fees, other charges and refurbishment requirements are absent.