26 Mile End Road, Norwich, Norfolk NR4 7QY

Description

Four bedroom semi-detached house requiring full modernisation in highly sought after location. Having been in the same family ownership for many years this imposing semi-detached house is now vacant and in need of a full modernisation program. The spacious accommodation includes an impressive hall, sitting room, dining room and kitchen on the ground floor with four bedrooms and a bathroom with separate wc on the first floor. There is a large garden, ample off road parking and plenty of space for further extension subject to planning approval. Located in a highly sought after position the property is well placed for access to the University, Norfolk and Norwich Hospital and the city centre.

Accommodation

Ground Floor: Hall, lounge, dining room, kitchen. First Floor: Landing, four bedrooms, bathroom, separate wc. Outside: Front garden with parking and turning area, side driveway to garage and large rear garden.

Location

Located in a highly sought after position, well placed for access to the University, Norfolk and Norwich Hospital and the city centre.

Tenure / Property Information

Investment Analysis

Local completed sales range from £503,000 to £815,000, including two sales at 10 Mile End Road of £700,000 and £503,000. Using the observed comparable range, a cautious base GDV estimate is £715,000, but comparable property condition and specification are not supplied.

Investment Snapshot

Strategy Recommendation

Obtain a full refurbishment budget and review the legal pack before bidding. The guide price produces a weak indicative BTL yield, so proceed only with substantial cost and value headroom.

Works Required

Full modernisation as described, including upgrading the accommodation and addressing the current EPC F rating. No detailed schedule or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV estimate, 75% refinance equates to £536,250. Cash left in cannot be calculated because refurbishment costs and any further purchase costs are unavailable. The refinance figure is illustrative only and not a lending commitment.

Buy-to-Let Analysis

The single rental listing indicates £1,100 pcm asking rent, equivalent to £13,200 annually. Against the £350,000–£375,000 guide range, this indicates approximately 3.52%–3.77% gross yield before works, finance and other costs. Total-cost yield cannot be established without refurbishment costs.

Flip Analysis

A potential resale value is supported by local completed sales, but flip surplus cannot be calculated because no refurbishment budget, selling allowance or detailed condition assessment is supplied.

Investor Risks & Due Diligence

• Full modernisation is required, but no quantified works budget is available.

• The property has an EPC rating of F.

• The £1,100 pcm figure is an advertised asking rent, not achieved rent.

• Buyer premium and admin charge total £2,400, with possible additional legal-pack disbursements and special-condition charges.

• Further extension is subject to planning approval.

• Comparable sale prices vary materially and property condition is not provided.

Recommendation

Obtain a full refurbishment budget and review the legal pack before bidding. The guide price produces a weak indicative BTL yield, so proceed only with substantial cost and value headroom.

Strategy Rating

Analysis Confidence

Completed local sales and one advertised rent are available, but comparable specifications, refurbishment costs, selling costs and legal-pack disbursements are not supplied.