24 Common Hill, Cricklade, Swindon, Wiltshire, SN6 6EZ

Description

A Two Bedroom Detached House in Need of Refurbishment. Potential for Side and Rear Extensions (Subject to Obtaining all Relevant Consents)

Accommodation

Ground Floor: Two Reception Room, Kitchen, Bathroom. First Floor: Two Bedrooms.

Location

The property is situated on a residential road close to local shops and amenities. There are numerous green open spaces within easy reach. Transport links are provided by Swindon rail station.

Tenure / Property Information

Investment Analysis

Five HM Land Registry comparables on Common Hill range from £375,000 to £525,000, with a median of £400,000. They are semi-detached freehold properties, but bedroom count, size, condition and specification are not supplied, so the comparison is indicative only. A base GDV of £400,000 is used, with £375,000 as a low case and £525,000 as a high case. The property is described as needing refurbishment, but no works budget or detailed condition survey is provided.

Investment Snapshot

Strategy Recommendation

Investigate only after reviewing the legal pack, inspecting the condition and obtaining a detailed refurbishment quotation. Do not bid to a maximum based on the apparent GDV spread until all costs and extension feasibility are verified.

Works Required

Refurbishment is required, but the evidence does not specify the defects or scope. Obtain a full inspection and cost plan. Side and rear extensions are described as potential only and would require all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £80,000 guide, the indicative refinance at 75% of the £400,000 base GDV would be £300,000. However, total project cost and cash left in cannot be calculated because refurbishment costs and potentially payable legal-pack disbursements or other charges are unknown. The GDV evidence is also limited because the comparable properties' sizes, bedroom counts and conditions are not supplied.

Buy-to-Let Analysis

The supplied advertised asking rent is £1,150 pcm, equivalent to £13,800 annually. Against the £80,000 guide alone, the gross yield is 17.25%, but this is not a reliable all-in BTL yield because refurbishment costs, purchase costs beyond the £1,800 administration charge, finance, voids, maintenance and management are unavailable. The rent is an asking rent, not an achieved or passing rent.

Flip Analysis

The comparable sales support an indicative GDV range of £375,000 to £525,000, with a £400,000 base case. A flip surplus cannot be calculated because refurbishment costs and supported selling costs are unavailable. The apparent spread between the guide and comparables should not be treated as profit.

Investor Risks & Due Diligence

• The property is stated to need refurbishment, but the scope and cost are unknown.

• Comparable sales do not include bedroom count, floor area, condition or specification, limiting GDV reliability.

• The £1,150 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Legal-pack disbursements and other special-condition charges may be payable but are not quantified.

• Side and rear extensions are only potential and require all relevant consents.

• No complete purchase, refurbishment, finance or selling-cost calculation is possible from the supplied evidence.

Recommendation

Investigate only after reviewing the legal pack, inspecting the condition and obtaining a detailed refurbishment quotation. Do not bid to a maximum based on the apparent GDV spread until all costs and extension feasibility are verified.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and one advertised rental, but the comparables lack size, bedroom, condition and specification detail. No EPC, detailed condition information, refurbishment budget or complete buyer-cost schedule is supplied.