25 Owthorne Close, Bridlington, East Yorkshire

Description

A three bedroom mid-terraced house requiring modernisation, improvement and refurbishment throughout. The accommodation briefly comprises: Entry, Hallway, Kitchen, Living Room, Three Bedrooms and Bathroom. Externally, there is an enclosed courtyard to the front and a rear garden. 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 £85,000 guide is below the supplied same-close sold evidence: £143,000 for No. 12 in May 2022 and £117,000 for No. 16 in January 2018. These are useful location and house-type indicators, but they are dated and do not establish the current value or the subject property's post-refurbishment condition. The known buyer premium and admin charge total £3,000, making the purchase cost £88,000 before works and any disbursements or other legal-pack charges.

Investment Snapshot

Strategy Recommendation

Treat as a refurbishment-led purchase requiring a full viewing, survey, contractor specification and legal-pack review before bidding. Do not rely on the apparent GDV spread or pursue BTL without verified rent and a complete project budget.

Works Required

Modernisation, improvement and refurbishment throughout, based on the auction description. The supplied evidence does not specify the individual works or their condition, so no reliable cost allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £143,000 May 2022 same-close sale as an indicative base GDV gives a theoretical 75% refinance figure of £107,250. However, refurbishment costs, finance costs, current valuation evidence and total project cost are unavailable, so cash left in and overall BRRR viability cannot be calculated.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The £88,000 purchase price including the stated buyer and admin charges excludes refurbishment, disbursements and other possible costs.

Flip Analysis

The supplied evidence includes a £143,000 same-close sale in 2022 and a £117,000 sale in 2018. Against the £85,000 guide, the project may offer a gross value spread, but refurbishment costs, selling costs, current market movement and property-specific condition are not supplied. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, improvement and refurbishment throughout, but the scope and cost are unknown.

• No sufficiently specific rental evidence is available, so BTL yield cannot be assessed.

• The key same-close sold comparables are dated, with the latest supplied sale completing in May 2022.

• Disbursements and other possible legal-pack, search, seller-cost, legal and transfer charges may be payable but are not quantified.

• The £143,000 GDV indication is based on a historic comparable and is not a formal valuation.

Recommendation

Treat as a refurbishment-led purchase requiring a full viewing, survey, contractor specification and legal-pack review before bidding. Do not rely on the apparent GDV spread or pursue BTL without verified rent and a complete project budget.

Strategy Rating

Analysis Confidence

The address, tenure, accommodation, guide and two stated buyer charges are supplied, but there is no rental evidence, EPC, detailed condition schedule, refurbishment costing, current comparable evidence, or complete legal-pack cost information.