25 Owthorne Close, Bridlington, East Yorkshire, YO16 7GD

Description

A three bedroom mid-terraced house requiring modernisation, improvement and refurbishment throughout. The property may be suitable for a variety of purchasers, including investors, DIY enthusiasts and owner occupiers seeking a refurbishment project. Double glazed throughout and gas central heating.

Accommodation

Ground Floor: Entry - 6'5" x 5'9"; Hallway - 14'7" x 3'1"; Kitchen - 10'8" x 13'3"; Living Room - 10'4" x 13'2". First Floor: Landing leading to; Bedroom One - 11'6" x 10'8"; Bedroom Two - 9'7" x 8'5"; Bedroom Three - 6'7" x 10'8"; Bathroom - 5'6" x 8'4". Exterior: Front courtyard and rear garden.

Location

Owthorne Close is situated in the popular Burstall Hill area of Bridlington. The property is conveniently positioned for a range of local shops and everyday amenities, with nearby bus services providing links into the town centre. Bridlington railway station is also within easy reach, offering services towards Hull, Beverley and Scarborough. Local schools, including New Pasture Lane Primary School and Bridlington School, are nearby, making the location well suited to families.

Tenure / Property Information

Investment Analysis

The latest supplied comparable is 12 Owthorne Close at £143,000 in May 2022; another same-street terraced comparable sold for £117,000 in January 2018. Older evidence ranges from £74,000 to £104,500, but those sales are less relevant due to age and one was semi-detached. As the comparable condition is not supplied and this property requires refurbishment, a precise current value cannot be established. A cautious evidence-led scenario range is £117,000–£143,000, with £130,000 used as a provisional base GDV rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat primarily as a potential owner-occupier refurbishment purchase rather than an underwritten BTL or BRRR project. Proceed only after confirming condition, obtaining a detailed works budget and reviewing the legal pack and disbursements; do not set a bid limit from the supplied evidence alone.

Works Required

Modernisation, improvement and refurbishment throughout, as stated in the description. The specific scope, specification and cost of works are not supplied; inspection and contractor pricing are required before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the provisional £130,000 base GDV, 75% refinance is £97,500. However, refurbishment cost, total project cost and achievable rent are unsupported, so cash left in and refinance viability cannot be calculated. The strategy should not be underwritten without a survey, works schedule, rental evidence and legal-pack review.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent, yield and BTL affordability cannot be established. The property is described as requiring refurbishment, and buyer premium plus admin charge total £3,000 before any disbursements or works.

Flip Analysis

The provisional GDV scenarios are based on dated same-street sales, with the latest at £143,000 in 2022. A flip surplus cannot be calculated because refurbishment costs, resale costs and other project costs are not supplied. The refurbishment requirement and uncertainty over comparable condition materially weaken confidence in the resale margin.

Investor Risks & Due Diligence

• The property requires modernisation, improvement and refurbishment throughout, but no quantified scope or cost is supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate is available, preventing reliable BTL and BRRR calculations.

• The comparable sales are dated and do not provide condition information; the latest supplied sale was in May 2022.

• Buyer premium and admin charge total £3,000, while further legal-pack disbursements and other charges may become payable.

• A precise maximum bid cannot be established without verified works, costs, condition and rental or resale assumptions.

Recommendation

Treat primarily as a potential owner-occupier refurbishment purchase rather than an underwritten BTL or BRRR project. Proceed only after confirming condition, obtaining a detailed works budget and reviewing the legal pack and disbursements; do not set a bid limit from the supplied evidence alone.

Strategy Rating

Analysis Confidence

The property description, tenure, accommodation, guide and two relevant same-street sales are available, but the sales are dated and their condition is unknown. There is no rental evidence, refurbishment budget, survey, resale-cost allowance or full legal-pack cost information.