29 Town Close, East Winch, King's Lynn, Norfolk

Description

A two bedroom semi-detached bungalow in need of modernisation in the popular village of East Winch. This semi-detached bungalow requires full modernisation and is located in a popular village just off the A47.

Accommodation

Lounge, kitchen, two bedrooms and a wet room

Location

The bungalow is located in East Winch on the A47 which lies between King's Lynn and Swaffham.

Tenure / Property Information

Tenure	Freehold
EPC	Current Rating E
Council Tax	Band A
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

The supplied completed sales are on the same road, ranging from £144,000 to £212,000, but they are dated 2011–2018 and provide no bedroom, size or condition details. They do not support a reliable current GDV for this two-bedroom bungalow. The property requires full modernisation and has EPC E. Current rental evidence is unavailable.

Investment Snapshot

Guide Price

£50,000 - £60,000 (plus fees)

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, survey, current valuation evidence and detailed refurbishment quotations before considering a refurbishment-led resale or rental strategy.

Works Required

Full modernisation as described, including updating the kitchen, wet room and internal finishes. A survey and contractor quotations are required before costing.

Rental & Market Context

No sufficiently specific external rental comparable identified.

Sold Comparables

The following completed sales were identified within approximately 5 miles:

32, Town Close, East Winch, King'S Lynn, King'S Lynn And West Norfolk, Pe32 1nt 2018-02-05 · Semi-Detached · Freehold	£212,000
35, Town Close, East Winch, King'S Lynn, King'S Lynn And West Norfolk, Pe32 1nt 2016-09-12 · Semi-Detached · Freehold	£147,500
32, Town Close, East Winch, King'S Lynn, King'S Lynn And West Norfolk, Pe32 1nt 2014-12-19 · Semi-Detached · Freehold	£160,000
12, Town Close, East Winch, King'S Lynn, King'S Lynn And West Norfolk, Pe32 1nt 2011-08-04 · Semi-Detached · Freehold	£144,000
32, Town Close, East Winch, King'S Lynn, King'S Lynn And West Norfolk, Pe32 1nt 2009-07-31 · Semi-Detached · Freehold	£112,000

Potential BRRR Position

BRRR cannot be underwritten reliably. Current GDV, refurbishment cost, rent and refinance position remain unsupported. The £1,800 buyer premium and £1,200 administration charge are payable in addition to the purchase price, with possible further disbursements.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Refurbishment costs and total project cost are also unknown.

Flip Analysis

A flip appraisal cannot be quantified because the supplied comparables are historic and lack condition, size and bedroom detail. Resale costs and refurbishment costs are also unavailable.

Investor Risks & Due Diligence

• Full modernisation is required, but no refurbishment budget is available.

• Historic comparables may not represent current value, size or condition.

• No sufficiently specific rental evidence is available.

• Buyer premium, administration charge and possible legal-pack disbursements increase acquisition cost.

• Occupancy and legal-pack details are not supplied.

• EPC rating is E.

Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, survey, current valuation evidence and detailed refurbishment quotations before considering a refurbishment-led resale or rental strategy.

Strategy Rating

HB Rating

★★☆☆☆

Analysis Confidence

Confidence

Low-Medium

The property description, guide range, tenure, fees and historic same-road sales are supplied, but current valuation evidence, condition detail, refurbishment costs and rental evidence are missing.