31 Collett Road, Hemel Hempstead, Hertfordshire, HP1 1HY

Description

A Vacant Three Bedroom Mid Terrace House. Offered With Planning Permission for Three Single Storey 6m Rear Extensions and a Loft Conversion with a Rear Dormer

Accommodation

Ground Floor: Reception Room; Kitchen. First Floor: Three Bedrooms; Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Gadebridge Park are within easy reach. Transport links are provided by Hemel Hempstead rail station and the M1.

Tenure / Property Information

Investment Analysis

The strongest evidence is 17 Collett Road, a freehold terraced house sold for £575,000 in November 2022. Older same-road sales were £377,500 in 2014 and £410,000 in 2015, so they are less reliable for current value. A base GDV of £575,000 is used, but there is only one relatively recent comparable and no floor area, condition or specification evidence. A conservative low scenario of £410,000 is based on the latest older comparable; no supported high scenario is available.

Investment Snapshot

Strategy Recommendation

Investigate as a conditional BTL/BRRR opportunity, subject to legal-pack review, planning verification, measured survey and fixed refurbishment quotations. Do not bid on the apparent GDV margin alone.

Works Required

The property has planning permission for three single-storey 6m rear extensions and a loft conversion with rear dormer. The planning documents, building-regulation requirements, specification and construction costs need verification. No other works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £575,000, 75% refinancing would indicate £431,250 before lender criteria and costs. The apparent value gap is significant against the guide, but works and total project costs are unavailable, and the cash left in cannot be calculated. Obtain a detailed extension/loft cost plan and verify planning and legal-pack requirements before relying on a BRRR outcome.

Buy-to-Let Analysis

At the £320,000 guide, the sole rental listing indicates £2,500 pcm, equivalent to £30,000 annually and a 9.375% gross yield on the guide price. This is an advertised asking rent rather than achieved or passing rent. Net yield cannot be established because works, finance, insurance, maintenance, voids, tax and other costs are unavailable.

Flip Analysis

The guide price is materially below the strongest same-road sale, but a reliable flip surplus cannot be calculated because construction costs, acquisition costs beyond the £1,800 admin charge, disbursements and selling costs are not fully evidenced. The £575,000 GDV is based on one 2022 comparable and should not be treated as a formal valuation.

Investor Risks & Due Diligence

• GDV relies primarily on one same-road sale from November 2022, with no current comparable or floor-area evidence.

• The cost of the permitted extensions and loft conversion is not supplied, preventing total-cost, equity, maximum-bid and flip-surplus calculations.

• The rental figure is an advertised asking rent, not achieved or passing rent.

• Additional disbursements and other charges may be payable under the legal pack and Special Conditions of Sale.

• Planning permission and the practical scope of the proposed works require legal and technical verification.

• The property is vacant, so there is no evidenced existing rental income.

Recommendation

Investigate as a conditional BTL/BRRR opportunity, subject to legal-pack review, planning verification, measured survey and fixed refurbishment quotations. Do not bid on the apparent GDV margin alone.

Strategy Rating

Analysis Confidence

The property, tenure, occupancy, guide, admin charge, one rental listing and several completed sales are supplied, but there is no floor area, condition detail, EPC, planning documentation, refurbishment budget, full fee schedule or current comparable evidence.