21 Horn Street, Newbury, Berkshire

Description

Freehold two floor mid terrace house requiring modernisation. By order of a Major Housing Association.

Accommodation

First floor: One bedroom, bathroom/WC. Ground floor: Reception room, kitchen. Outside: Detached garden area and shed.

Location

The property is situated on Horn Street between its junctions with School Road and Wallingford Road. Public transport links include Didcot Parkway and Goring & Streatley mainline rail stations together with a network of local bus services serving the surrounding vicinity. Road links include the A34 and M4 motorway. Shopping amenities can be found locally within Compton and nearby East Ilsley, with an extensive range of shops, bars and restaurants being found in Newbury. Recreational pursuits can be found locally at the open spaces of the North Wessex Downs National Landscape (Area of Outstanding Natural Beauty).

Tenure / Property Information

Investment Analysis

Same-street freehold terraced comparables range from £205,000 in 2021 to £485,000 in 2025, but bedroom count, floor area, condition and specification are not provided. They are therefore insufficient for a reliable subject-specific GDV, particularly for this one-bedroom house requiring modernisation.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the special conditions, parking and heating, inspecting the modernisation requirement, and obtaining a full works budget. Do not rely on the indicative rental yield alone.

Works Required

Modernisation is required, but the evidence does not specify the scope. Obtain inspection and contractor pricing before bidding; no supported allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because refurbishment costs, a supported GDV and refinance value are unavailable. The known £1,800 inclusive contract documentation fee is payable in addition to the purchase price, with possible further seller fees under the special conditions.

Buy-to-Let Analysis

The only rental evidence is a £900 pcm advertised asking rent for a one-bedroom Berkshire property, equivalent to £10,800 annually. This produces an indicative 8.31% gross yield against the £130,000 guide, before refurbishment, finance, management, insurance, maintenance, voids and acquisition costs. Achieved rent and property-specific rental comparables are unavailable.

Flip Analysis

A flip appraisal cannot be established. Although same-street sales evidence exists, the comparables lack bedroom, size and condition details and vary materially in price and date. No refurbishment allowance or supported selling-cost allowance is available.

Investor Risks & Due Diligence

• Modernisation scope and cost are not specified.

• Same-street comparable sales have no supplied bedroom, floor-area or condition details and vary from £205,000 to £485,000.

• The £900 pcm figure is an advertised asking rent, not an achieved or property-specific rent.

• The seller may charge additional completion fees under the special conditions.

• Parking and heating information requires confirmation from the auction centre.

• The £1,800 contract documentation fee is payable in addition to the purchase price.

Recommendation

Proceed only after confirming the special conditions, parking and heating, inspecting the modernisation requirement, and obtaining a full works budget. Do not rely on the indicative rental yield alone.

Strategy Rating

Analysis Confidence

The guide, tenure, occupancy, accommodation, one asking-rent listing, one known buyer charge and several same-street sales are supplied, but there is no property-specific valuation, floor area, works cost, achieved rent, detailed condition or complete fee schedule.