27, Reepham Road, Melton Constable, Norfolk

Description

This unique development comprises of 13 one- and two-bedroom properties being offered on a single title. The units are currently tenanted and the portfolio includes a mix of well-maintained units with practical layouts, modern fittings and long-term rental appeal. The plot extends to approximately xxx acre, is surrounded by gardens and offers communal parking for tenants and visitors.

Accommodation

1 Limetree Bungalow – £625.00 pcm – 1 bedroom; 2 Limetree Bungalow – £675.00 pcm – 1 bedroom; 3 Limetree Bungalow – £785.00 pcm – 2 bedrooms; 4 Limetree Bungalow – £600.00 pcm – 1 bedroom; 5 Limetree Bungalow – leasehold, sold ground rent £325 p.a.; 6 Limetree Bungalow – £750.00 pcm – 2 bedrooms; 7 Limetree Bungalow – £725.00 pcm – 2 bedrooms; 8 Limetree Bungalow – £750.00 pcm – 2 bedrooms; 9 Limetree Bungalow – £700.00 pcm – 1 bedroom; 10 Limetree Bungalow – £700.00 pcm – 2 bedrooms; Detached House: Flat 1 – £850.00 pcm – 2 bedrooms; Flat 2 – £565.00 pcm – 1 bedroom; Flat 3 – £750.00 pcm – 1 bedroom; Coach House – £860.00 pcm – 1 bedroom.

Location

Located in a popular and sought-after North Norfolk village of Melton Constable, close to Holt, Fakenham and wider North Norfolk, with access to local amenities.

Tenure / Property Information

Investment Analysis

The £750,000 guide implies approximately £57,692 per stated property if the portfolio contains 13 units, but the accommodation schedule lists 14 entries: Limetree Bungalows 1–10 plus four detached-house units. The supplied sold comparables are individual properties and do not establish a portfolio GDV. Current stated rent from the 13 rent-producing units is £9,335 pcm, excluding Flat 5, which is described as leasehold with sold ground rent of £325 p.a. A reliable GDV, refurbishment budget and maximum bid cannot be established from the evidence supplied.

Investment Snapshot

Strategy Recommendation

Consider as a hold/B2L portfolio only after verifying the unit count, title structure, tenancy documentation, rent schedule, condition, EPCs, communal obligations and special conditions. Do not rely on the guide or headline gross yield as a maximum bid basis.

Works Required

No specific refurbishment works are evidenced. The units are described as generally well maintained with modern fittings. Confirm condition, compliance, communal areas, services, heating, EPCs and any required maintenance before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be completed because no supported GDV, refurbishment allowance, finance terms or reliable unit count are supplied. At a 75% refinance assumption, the relevant refinance amount depends on an unsupported base GDV. The leasehold status and £325 p.a. sold ground rent for Flat 5 also require title and lease review.

Buy-to-Let Analysis

The stated rent roll totals £9,335 pcm, or £112,020 annually, producing a gross yield of approximately 14.94% against the £750,000 guide before buyer costs, finance, management, maintenance, voids, insurance, tax and the £1,800 documentation fee. The calculation is subject to resolving the apparent 13-versus-14 property discrepancy and verifying the tenancies and rent schedule. Net yield cannot be established from the supplied evidence.

Flip Analysis

A flip appraisal is not supported. No portfolio GDV, individual resale values, refurbishment budget, selling costs or vacant-possession assumptions are provided. The supplied comparables are individual properties and are not sufficient to value this tenanted portfolio.

Investor Risks & Due Diligence

• The description states 13 properties but the accommodation schedule lists 14 entries.

• Flat 5 Limetree Bungalow is leasehold and has a sold ground rent of £325 p.a.; lease terms and liabilities are not supplied.

• EPC ratings are unknown.

• Heating arrangements are unknown.

• Tenancy agreements, deposits, expiry dates, arrears and rent review information are not supplied.

• Additional seller fees may apply under the special conditions of sale.

• The supplied comparables are individual properties rather than directly comparable portfolio transactions.

• The stated rent total excludes any rental income for Flat 5 because only a sold ground rent is provided.

Recommendation

Consider as a hold/B2L portfolio only after verifying the unit count, title structure, tenancy documentation, rent schedule, condition, EPCs, communal obligations and special conditions. Do not rely on the guide or headline gross yield as a maximum bid basis.

Strategy Rating

Analysis Confidence

The stated rents, occupancy, guide and one buyer charge are available, but the property count conflicts with the accommodation schedule and there is no supported GDV, condition budget, EPC information, tenancy detail, finance information or complete fee schedule.