2A Royal Crescent, Sandown, Isle Of Wight

Description

A rare chance to acquire a freehold detached bungalow in a tucked away location, situated within the coastal town of Sandown which is renowned for its sandy beach. This property requires a programme of improvements but is, however, deemed extremely worthy. Once this property has been restored it is considered ideal for use as a weekend retreat or holiday home, perhaps on a commercial holiday letting basis. The property may also, of course, suit owner occupation. In addition to the bungalow, the property comes with an additional private garden situated beside the bungalow as well as off-road parking to the front.

Accommodation

Ground Floor: Entrance lobby, living/dining room, kitchen, bathroom with W.C. and bedroom.

Location

Town centre location in Sandown, Isle of Wight, a coastal town renowned for its sandy beach.

Tenure / Property Information

Investment Analysis

The property is a vacant freehold one-bedroom detached bungalow requiring a programme of improvements. The strongest evidence is the same property selling for £125,000 in December 2019 and £122,000 in October 2016. A £400,000 sale at 12 Royal Crescent in September 2024 is a different property and cannot alone establish this bungalow's current value. No floor area, current condition schedule, refurbishment cost, current valuation or sufficiently specific rental evidence is supplied, so a current GDV and maximum bid cannot be reliably calculated.

Investment Snapshot

Strategy Recommendation

Do not set a bid ceiling from the current evidence. Obtain a full inspection, detailed refurbishment quotations, current local sales evidence and rental or holiday-let underwriting before considering the guide price. The property may suit an owner occupier, retreat or holiday-let strategy, but none is financially validated here.

Works Required

Undertake the auctioneer-described programme of improvements and restoration. The evidence does not specify individual defects, required trades, statutory works or a reliable cost allowance, so no detailed scope or budget can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. Current GDV, refurbishment cost, rent and refinance value are not sufficiently established. The historic same-property sales provide context only and do not prove a current post-works value.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Gross yield, operating return and a supportable maximum purchase price are therefore unavailable. The description mentions possible commercial holiday letting, but no achieved or advertised holiday-let income evidence is supplied.

Flip Analysis

A flip surplus cannot be calculated because there is no supported current GDV, refurbishment allowance or selling-cost allowance. The 2019 and 2016 same-property sales are useful historic references but are insufficient to model a current resale outcome.

Investor Risks & Due Diligence

• The property requires improvements, but the scope and cost are unspecified.

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

• An administration fee and other non-optional fees may be payable, but amounts are unspecified.

• The historic same-property sales are from 2016 and 2019 and may not represent current market value.

• The £400,000 sale is for a different property and is not sufficient as a direct valuation comparable.

Recommendation

Do not set a bid ceiling from the current evidence. Obtain a full inspection, detailed refurbishment quotations, current local sales evidence and rental or holiday-let underwriting before considering the guide price. The property may suit an owner occupier, retreat or holiday-let strategy, but none is financially validated here.

Strategy Rating

Analysis Confidence

The property identity, tenure, accommodation, vacant possession and historic same-property sales are supplied, but current condition detail, floor area, refurbishment costs, current GDV, rent and complete purchase costs are missing.