3, Kingfisher Court, Lowestoft, Suffolk, NR33 8PJ

Description

An opportunity to acquire a detached three-bedroom bungalow located in the highly sought after location of Oulton Broad, Lowestoft. The property is now to be sold with vacant possession and would benefit from redecoration and has potential to reconfigure but currently offers three bedrooms, lounge/dinner, kitchen, bathroom, off road parking, a garage, and enclosed gardens.

Accommodation

Ground floor: Entrance porch, hallway, kitchen, lounge/dinner, three bedrooms, bathroom. Exterior: Brick weave driveway providing off road parking access to garage, pedestrian access to enclosed rear garden laid to lawn, patio, timber shed.

Location

Located in Oulton Broad, Lowestoft. Oulton Broad offers shops, public houses, restaurants and recreational activities centred around the broad. Lowestoft and the coastal resort of Southwold offer high street shops, business and leisure facilities and access to the port.

Tenure / Property Information

Investment Analysis

The five same-development detached freehold comparables sold between £227,500 and £405,000. The evidence has no bedroom, specification or condition details, and the spread is substantial, so £290,000 is used as a provisional base GDV, with the observed sales range used for low and high scenarios. This is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, confirmation of heating and review of the Special Conditions. The evidence supports investigating a light refurbishment and resale strategy, but the missing works and selling-cost data prevent a firm bid or profit assessment.

Works Required

Redecoration is identified in the description. Reconfiguration could be considered, subject to survey and layout feasibility. No quantified works specification or cost evidence is supplied. Heating details also require confirmation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £290,000 base GDV, 75% refinance would be approximately £217,500. A cash-left-in calculation cannot be established because refurbishment costs and total project costs are unsupported. The guide plus the known £1,800 buyer administration charge is £151,800 before works and any seller fees.

Buy-to-Let Analysis

BTL assessment is not quantifiable because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is vacant, and refurbishment costs, finance costs and any seller fees are also unknown.

Flip Analysis

The comparable evidence indicates potential value above the £150,000 guide, but a reliable flip surplus cannot be calculated because refurbishment costs, selling costs and any seller fees are not supplied. The £405,000 comparable is materially above the other evidence and should not be relied upon without further verification.

Investor Risks & Due Diligence

• Comparable sale prices range widely from £227,500 to £405,000 and lack bedroom, specification and condition details.

• Refurbishment costs are not supplied despite the stated need for redecoration and potential reconfiguration.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Heating details require confirmation.

• The seller may charge additional completion fees, subject to the Special Conditions of Sale.

• Any structural, layout or other defects cannot be assessed from the supplied evidence.

Recommendation

Proceed only subject to inspection, confirmation of heating and review of the Special Conditions. The evidence supports investigating a light refurbishment and resale strategy, but the missing works and selling-cost data prevent a firm bid or profit assessment.

Strategy Rating

Analysis Confidence

Same-development sold evidence and a clear guide price are available, but comparable specifications and condition are incomplete, the value range is wide, and there is no rental, refurbishment-cost or selling-cost evidence.