28 High Street, St. Lawrence, Ramsgate, Kent CT11 0QH

Description

The property comprises a 2 storey, mixed use building with former retail premises on the ground floor and a self contained flat above. Requiring repair and complete modernisation.

Accommodation

Ground floor: Retail space with trap door to cellar, separate door and hall to residential parts, sitting room, utility room, cloakroom with w.c. and basin. First floor: Landing, sitting room or bedroom, kitchen, bathroom. Outside: Yard to the rear.

Location

Situated in a small commercial parade at the junction of High Street and Newington Road, Ramsgate Station approximately 0.25 miles.

Investment Analysis

The evidence does not support a reliable GDV or current market value. The nearby sold evidence is inconsistent (£2,500 to £300,000), relates to different property descriptions and tenures, and provides no size, condition or transactional context sufficient to adjust it to this two-storey mixed-use building. The £60,000+ guide is the only supported acquisition figure. No rental evidence is available.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, confirm tenure and lease arrangements, inspect the building, establish separate commercial and residential rental evidence, and obtain a detailed refurbishment budget before considering a refurbishment-led resale or letting strategy.

Works Required

Repair and complete modernisation of the former ground-floor retail premises, self-contained flat, kitchen, bathroom, cloakroom, utility areas and associated internal finishes, subject to inspection and the legal/special conditions. The evidence does not quantify the works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be underwritten from the supplied evidence. GDV, refurbishment cost, rent, tenure and lease details are unsupported. At the £60,000 guide, the buyer premium would be £3,600 because the 1.8% calculation is below the stated minimum, before any additional special-condition costs.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property also requires repair and complete modernisation, and tenure, occupancy and lease information are absent.

Flip Analysis

A flip surplus cannot be calculated. The sold comparables vary materially in price, tenure and description, while no supported GDV, works allowance or selling-cost allowance is available. The property is expressly described as requiring repair and complete modernisation.

Investor Risks & Due Diligence

• Repair and complete modernisation are required, but no costed scope or budget is supplied.

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

• Tenure, occupancy and lease information are not supplied for the mixed-use property.

• Sold comparables show a very wide price range and differing descriptions and tenures, limiting valuation reliability.

• The buyer premium is subject to a £3,600 minimum, and additional fees may be stated in the Special Conditions of Sale.

Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, confirm tenure and lease arrangements, inspect the building, establish separate commercial and residential rental evidence, and obtain a detailed refurbishment budget before considering a refurbishment-led resale or letting strategy.

Strategy Rating

Analysis Confidence

The guide and buyer-premium terms are supplied, but GDV, refurbishment cost, rent, tenure, occupancy, lease information and relevant comparable context are materially incomplete or inconsistent.