25 Alma Chase, Terrington St Clement, King's Lynn, Norfolk

Description

A two bedroom semi detached house. Externally the property benefits from a rear garden. In need of modernisation. Extension potential subject to requisite consents. Vacant.

Accommodation

Ground Floor - Reception Room, Kitchen. First Floor - Two Bedrooms, Bathroom/WC.

Location

Terrington St Clement is a village in the county of Norfolk. Located on Alan Jarvis Way, accessed off Alma Chase. Amenities are available within the village with a broader range available within the nearby town of King's Lynn (approximately 4.9 miles). A broad range of recreational amenities are available within the surrounding countryside. Transport Kings Lynn - Great Northern.

Tenure / Property Information

Investment Analysis

The £70,000 guide is materially below the only supplied comparable: 4 Alma Chase, a semi-detached freehold property sold for £162,000 on 5 July 2022. However, the comparable's size, condition and specification are not supplied, while this property is stated to need modernisation. A reliable GDV range cannot therefore be established from the evidence alone. The auction buyer fee is unspecified and VAT or seller charges may apply.

Investment Snapshot

Strategy Recommendation

Proceed only to further due diligence: inspect the property, obtain a refurbishment specification and rental evidence, and review the Special Conditions for all buyer, seller and VAT charges. Do not rely on the £162,000 comparable alone to set a bid.

Works Required

Modernisation of the existing two-bedroom house, with the exact scope and cost requiring inspection. Any extension would be subject to the requisite consents. No specific defects or element-by-element works are evidenced.

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. The guide is £70,000 and the 2022 same-street comparable sold for £162,000, but the property's post-works value, refurbishment cost, rent and acquisition charges are unsupported. Refinance proceeds and cash left in are therefore unavailable.

Buy-to-Let Analysis

BTL viability cannot be calculated because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Modernisation requirements, the buyer fee and possible VAT or seller charges also remain unquantified.

Flip Analysis

A flip surplus cannot be calculated. The £162,000 2022 sale provides a reference point only; the comparable's condition and specification are unknown, and this property's modernisation cost, selling allowance and acquisition charges are not supplied.

Investor Risks & Due Diligence

• Modernisation scope and cost are unknown.

• The only comparable is a single July 2022 sale and its condition, size and specification are not supplied.

• Auction buyer fees are unspecified.

• VAT may apply and additional seller charges may be payable under the Special Conditions of Sale.

• Any extension is subject to the requisite consents.

• EPC rating is E.

• No sufficiently specific rental evidence is available.

Recommendation

Proceed only to further due diligence: inspect the property, obtain a refurbishment specification and rental evidence, and review the Special Conditions for all buyer, seller and VAT charges. Do not rely on the £162,000 comparable alone to set a bid.

Strategy Rating

Analysis Confidence

Evidence includes one dated same-street sale and a guide price, but lacks comparable specification, inspection detail, refurbishment costs, rental evidence and confirmed auction charges.