28 Church Street, Wolverton, Milton Keynes

Description

Freehold mixed use property with development potential subject to requisite consents. Ground floor retail unit let to a restaurant, two self-contained one-bedroom flats, and a garage and garden to the rear with rear access. Total GIA approximately 1,449 sq ft (135 sq m). Investment let at £36,660 per annum (12.22% GIY).

Accommodation

Ground floor retail unit; two one-bedroom self-contained flats on the ground and first floor; garage and garden to the rear.

Location

Situated on Church Street, Wolverton, within an established commercial and residential area of Milton Keynes. Nearby amenities include Tesco, Asda and Lidl, with local car parking available nearby. Bus stops are situated close by and Wolverton Railway Station is within easy reach. The wider Milton Keynes road network provides access to the A5 and M1.

Tenure / Property Information

Investment Analysis

The guide is £300,000, supported by stated annual rent of £36,660 and a quoted 12.22% gross initial yield. A completed sale of the same property at £340,000 on 2 December 2025 provides the strongest market evidence and is used as the base GDV. The £300,000 guide is used as a lower reference scenario, but neither figure is a formal valuation. No supported higher-value evidence is available.

Investment Snapshot

Strategy Recommendation

Income-focused hold, subject to legal review of the restaurant lease, both periodic flat tenancies, rent evidence and all auction special conditions. Do not rely on a flip or BRRRR case until costs and finance terms are confirmed.

Works Required

No refurbishment works or defects are evidenced. Allow for inspection, maintenance review and verification of the retail and flat tenancies, but no works budget can be supported from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £340,000, 75% refinance is £255,000. Cash left in cannot be calculated reliably because refurbishment, buyer/admin charges, VAT and other acquisition costs are unknown. The existing let income may support an income-led refinance assessment, but lending terms and the treatment of the mixed-use property are not evidenced.

Buy-to-Let Analysis

The stated rent is £36,660 per annum, equivalent to £3,055 per month across the property. At the £300,000 guide this equates to the stated 12.22% gross yield; at the £340,000 base GDV it equates to approximately 10.78%. This is attractive on a headline gross basis, but net yield cannot be established because operating costs, tenancy details, vacancy assumptions and auction charges are not supplied.

Flip Analysis

The same-property completed sale at £340,000 provides a possible resale reference. No refurbishment requirement, selling-cost allowance or complete acquisition-cost schedule is supplied, so a reliable flip surplus and maximum purchase price cannot be calculated.

Investor Risks & Due Diligence

• Buyer fees, VAT and seller charges under the special conditions are not quantified.

• The £36,660 rent is an aggregate passing-rent figure with no rent split or tenancy documentation supplied.

• The restaurant lease and periodic flat tenancies require legal and rent-review verification.

• No EPC, council tax, heating or condition information is supplied.

• Development potential is expressly subject to requisite consents.

• Mixed-use refinance and lending terms are not evidenced.

• No supported refurbishment, selling-cost or operating-cost allowance is available.

Recommendation

Income-focused hold, subject to legal review of the restaurant lease, both periodic flat tenancies, rent evidence and all auction special conditions. Do not rely on a flip or BRRRR case until costs and finance terms are confirmed.

Strategy Rating

Analysis Confidence

The property type, tenure, occupancy, passing rent, guide and a recent completed sale of the same property are supplied. Confidence is reduced by missing buyer/admin charges, VAT treatment, operating costs, tenancy terms, condition information and detailed property certificates.