27 Old Mead, Folkestone, Kent

Description

A well-presented four-bedroom detached house located in an established residential area on the outskirts of Folkestone close to junction 13 of the M20 and within easy reach of the town centre with its various local and national retailers, railway stations and the popular harbour area with its many pubs and restaurants.

Accommodation

Ground Floor: Entrance hall, living room, study, dining room, kitchen, utility room, W.C. and garage. First Floor: Three bedrooms, fourth bedroom with en-suite shower and W.C., separate bathroom and W.C. Outside: Front driveway and rear garden.

Location

Located in an established residential area on the outskirts of Folkestone, close to junction 13 of the M20 and within easy reach of the town centre, railway stations and the popular harbour area.

Tenure / Property Information

Investment Analysis

The strongest evidence is 6 Old Mead, a same-street detached freehold sale at £455,000 in September 2024. Older same-street detached sales range from £355,000 to £393,000 but are less relevant due to age. The property is described as well presented, but the comparable evidence does not confirm identical accommodation, condition or specification. A base GDV of £455,000 is therefore indicative only; £420,000 is used as a conservative low scenario, with no evidence supporting a higher scenario.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming condition, legal/title matters, all auction charges and a local four-bedroom rental appraisal. On the supplied evidence, this is better viewed as an owner-occupier or cautious value-led purchase than a clearly evidenced BTL, BRRR or flip opportunity.

Works Required

No specific refurbishment works are evidenced. The property is described as well presented. Allow for inspection, testing and any remedial works identified during due diligence, but no monetary works allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £455,000 indicative GDV, 75% refinancing equates to £341,250. The cash position cannot be calculated because refurbishment, buyer/admin charges, other non-optional fees and taxes are not quantified. The limited evidence does not establish sufficient value uplift or a reliable refinance surplus.

Buy-to-Let Analysis

A BTL assessment cannot be established reliably. The only rental evidence supplied is UK-wide advertised asking-rent data of £572 pcm and £866 pcm, neither of which is property-specific or suitable evidence for a four-bedroom detached Folkestone house. Local achieved rent, operating costs, finance costs and acquisition costs are unavailable.

Flip Analysis

A resale value around £455,000 is indicated by the September 2024 same-street comparable, with £420,000 used as a conservative scenario. A flip surplus cannot be calculated because acquisition costs, works, selling costs and taxes are unsupported. At the £400,000 lower guide, the apparent gross value margin before those costs is only £55,000 against the base GDV.

Investor Risks & Due Diligence

• The £455,000 GDV relies principally on one same-street sale and may not reflect differences in size, condition or specification.

• No property-specific achieved or advertised rental evidence is supplied.

• Refurbishment requirements are unknown despite the property being sold by auction.

• Buyer, administration, other non-optional fees, VAT, Stamp Duty and Land Registry costs are not quantified.

• The guide range of £400,000 to £420,000 leaves limited evidenced gross margin against the £455,000 comparable before transaction and selling costs.

Recommendation

Proceed only after confirming condition, legal/title matters, all auction charges and a local four-bedroom rental appraisal. On the supplied evidence, this is better viewed as an owner-occupier or cautious value-led purchase than a clearly evidenced BTL, BRRR or flip opportunity.

Strategy Rating

Analysis Confidence

There is one relatively recent same-street detached sale and several older comparables, but no property-specific rental evidence, condition survey, quantified works, buyer fees, selling costs or tax calculations.