31 Quebec Road, Dereham, Norfolk

Description

A three bedroom detached cottage requiring modernisation. A detached period property occupying an established position on Quebec Road, within a short walk of the town centre and its comprehensive range of shops and amenities. The property offers an excellent opportunity for builders, developers or owner occupiers looking for a home upon which they can add value. The accommodation is arranged over two floors and, whilst requiring improvement and modernisation, provides considerable potential to refurbish and enhance the existing property. Externally, the property benefits from its own garden and off road parking. Offered with vacant possession, the property is ideally suited to refurbishment for resale, investment or owner occupation.

Accommodation

Ground Floor: Hall, lounge, kitchen, bathroom, utility room. First Floor: Landing, three bedrooms. Outside: Off road parking, enclosed and private gardens.

Location

Established position on Quebec Road, within a short walk of Dereham town centre and its comprehensive range of shops and amenities.

Tenure / Property Information

Investment Analysis

The five supplied detached freehold comparables on Quebec Road sold for £400,000–£590,000, with a median of £462,000. They do not provide floor areas, condition or specification, so they are only broad indicators rather than directly comparable evidence. A cautious scenario range is £400,000–£590,000, with £462,000 used as the base GDV estimate.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led resale or owner occupation, but proceed only after confirming the legal pack, obtaining a detailed refurbishment quotation and validating the comparables and achievable rent. Do not set a maximum bid from the supplied evidence alone.

Works Required

Modernisation and refurbishment of the existing three-bedroom detached cottage, including review and upgrading of the kitchen, bathroom, utility area, finishes and general presentation. The supplied evidence does not identify specific defects or provide a works schedule, so no cost allowance is supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV estimate of £462,000, a notional 75% refinance is £346,500. BRRR viability cannot be fully assessed because refurbishment costs, total project cost, finance costs and a confirmed post-works valuation are unavailable. The £2,400 stated buyer and administration charges would also need to be included, with any legal-pack disbursements still unknown.

Buy-to-Let Analysis

The supplied three-bedroom advertised asking rent is £1,084 pcm, equivalent to £13,008 annually. Against the £80,000–£100,000 guide range, this indicates a gross yield of approximately 13.01%–16.26% before the £2,400 stated buyer and administration charges, refurbishment, finance, maintenance, voids and other costs. The rent is an advertised asking rent, not an achieved or passing rent.

Flip Analysis

The supplied comparable sales support a broad indicative GDV range of £400,000–£590,000, with £462,000 as the base scenario. A flip surplus cannot be calculated because refurbishment costs, selling costs and total project cost are not supplied. The comparables also lack size and condition details, reducing valuation certainty.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not stated, despite the property requiring modernisation.

• The sold comparables range from £400,000 to £590,000 and lack floor-area, specification and condition details.

• The £1,084 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Buyer and administration charges total £2,400, with possible additional legal-pack disbursements and other special-condition costs.

• The current EPC rating is E and any improvement requirements or upgrade costs are not specified.

• No maximum bid or total project cost can be supported without refurbishment and transaction-cost evidence.

Recommendation

Potential refurbishment-led resale or owner occupation, but proceed only after confirming the legal pack, obtaining a detailed refurbishment quotation and validating the comparables and achievable rent. Do not set a maximum bid from the supplied evidence alone.

Strategy Rating

Analysis Confidence

The property description, guide, stated charges, one advertised rent and five local sold comparables are available, but there is no floor area, detailed condition survey, refurbishment budget, selling-cost allowance, achieved rental evidence or legal-pack detail.