24, The Grove, Sheffield, South Yorkshire, S17 4AS

Description

Detached bungalow which requires remedial work for cash buyers only. A rare opportunity to acquire a two-bedroom detached bungalow in one of Sheffield’s most sought-after residential locations. Occupying a generous plot with stunning rear views, this property offers exceptional scope for refurbishment and future value enhancement. The property requires a full programme of modernisation and benefits from an enviable position close to local amenities, reputable schools, transport links and the open countryside of the Peak District fringe. We have been informed the property is of nontraditional construction and is considered suitable for cash purchasers only due to potential subsidence/structural movement. A report is available within the legal pack. All interested parties are advised to undertake their own investigations and satisfy themselves as to the nature and extent of any defects prior to bidding. This represents an ideal project for builders, developers, investors or owner-occupiers seeking a long-term renovation opportunity in a highly desirable location.

Accommodation

Ground Floor: Entrance Lobby, Lounge with Dining Area, Kitchen, Two Bedrooms with Ensuite Facilities. External: Driveway Providing Off Road Parking, Garage & Generous Rear Garden with Far Reaching Views.

Location

One of Sheffield’s most sought-after residential locations, close to local amenities, reputable schools, transport links and the open countryside of the Peak District fringe, with stunning rear views.

Tenure / Property Information

Investment Analysis

The supplied completed sales range from £270,000 to £430,000, including £388,000 for 18 The Grove in May 2021 and £425,000–£430,000 for 10 The Grove in 2017–2018. These are detached freehold comparables but bedroom count, condition and specification are not supplied. An indicative base GDV of £388,000 is therefore used, with a broad evidence-based range of £270,000–£430,000. This is not a formal valuation and does not fully reflect the subject's potential structural movement or nontraditional construction.

Investment Snapshot

Strategy Recommendation

Treat as a specialist cash-only refurbishment opportunity. Obtain and review the legal-pack structural report, commission independent structural investigations and price the full remedial programme before bidding; do not rely on the apparent GDV spread alone.

Works Required

Full modernisation as required, together with investigation and specification of remedial works for the reported potential subsidence or structural movement and nontraditional construction. The legal-pack report and independent structural investigations should determine the scope and cost before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative £388,000 base GDV, 75% refinancing equates to £291,000. Against the £240,000 guide plus the known £1,800 documentation fee, this leaves £49,200 before refurbishment, structural works, finance, tax and other costs. Because the refurbishment and structural liabilities are unpriced, cash left in and BRRR viability cannot be established.

Buy-to-Let Analysis

BTL yield cannot be reliably established. The £950 pcm evidence is a broad South Yorkshire asking-rent listing and the £312 pcm evidence relates to flats in Dore; neither is a specific comparable for this detached bungalow. Works, structural risk and total project cost are also unknown.

Flip Analysis

A potential resale value is indicated by the supplied local detached sales, with a base GDV of £388,000. However, the property requires full modernisation and may have subsidence or structural movement associated with nontraditional construction. With works, professional costs and any selling allowance unsupported, no reliable flip surplus or maximum bid can be calculated.

Investor Risks & Due Diligence

• Reported potential subsidence or structural movement.

• Nontraditional construction and cash-buyers-only restriction.

• Full modernisation required, with no supplied refurbishment quotation or cost allowance.

• Legal-pack structural report and independent investigations are required before bidding.

• Seller may charge additional completion fees under the special conditions.

• Comparable sales have differing dates and incomplete specification details.

• Rental evidence is inconsistent and not specific to this detached bungalow.

Recommendation

Treat as a specialist cash-only refurbishment opportunity. Obtain and review the legal-pack structural report, commission independent structural investigations and price the full remedial programme before bidding; do not rely on the apparent GDV spread alone.

Strategy Rating

Analysis Confidence

Local completed-sale evidence is available, but there are no property-specific refurbishment costs, structural conclusions, reliable rental comparables, floor area or complete fee information. The main defect risk is expressly unresolved.