36 Myrica Grove, Hoole, Chester

Description

A residential development opportunity comprising a three bedroom semi detached house requiring a program of modernisation. The property already benefits from UPVC double glazing and central heating but would benefit from further refurbishment offering excellent scope either for a local builder / developer or home owner looking for a project. Internally the accommodation details a kitchen with separate dining room, living room, and useful outhouses / stores which could offer potential for conversion into the overall ground floor footprint along with three bedrooms and bathroom on the first floor. Externally there is off street parking and a good size rear garden.

Accommodation

Ground Floor: Entrance Hall, Kitchen, Living Room, Dining Room. First Floor: Bedrooms x 3, Bathroom. Outside: Front & rear gardens, outhouses / stores.

Location

The property forms part of a small cul-de-sac in the ever popular Chester suburb of Hoole, accessed via Hoole Lane and within easy reach of the plentiful amenities that make it one of Chester's most sought after locations. The M53/M56 motorway networks are also within easy reach.

Tenure / Property Information

Investment Analysis

The supplied Land Registry evidence for semi-detached houses on Myrica Grove ranges from £155,000 to £370,000, with sales at £237,500 and £265,000 in 2023–2024. The £370,000 sale may indicate a materially different specification or condition, while the subject requires modernisation. A base GDV of £265,000 is therefore used cautiously, with a wide evidence-based range of £155,000–£370,000. The guide is £200,000 plus a buyer premium of 2.4% including VAT, calculated at £4,800 at the guide price; no works budget, administration charge, tenure or special-condition costs are supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, confirmed refurbishment pricing, legal review and a satisfactory valuation. Do not rely on the provisional GDV or on the unrelated rental listing. The opportunity is more suitable for a buyer able to manage refurbishment than for an immediately underwritten BTL or BRRR project.

Works Required

Modernisation of the existing three-bedroom house, including the kitchen, living and dining accommodation, bedrooms and bathroom as required. The outhouses/stores may offer potential to extend the ground-floor footprint, but conversion feasibility, permissions and costs are unconfirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £200,000 guide, the buyer premium would be £4,800, before any unknown works, finance, tax or special-condition costs. A 75% refinance against the provisional £265,000 base GDV is £198,750, but cash left in cannot be calculated without a supported works budget and complete acquisition costs. The wide comparable range makes refinance risk material.

Buy-to-Let Analysis

A BTL assessment cannot be established because the only supplied rental evidence is an advertised £1,900 pcm listing in Thame, not Chester, and no passing or Chester rental evidence is provided. Refurbishment costs and total acquisition costs are also unavailable.

Flip Analysis

A flip appraisal cannot be completed reliably because no refurbishment allowance or selling-cost allowance is supplied. The provisional £265,000 base GDV is only an evidence-based scenario, not a formal valuation; the comparable range indicates substantial outcome uncertainty.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not quantified.

• Same-street completed sales range widely from £155,000 to £370,000, creating substantial GDV uncertainty.

• The supplied rental evidence is for Thame rather than Chester and is an advertised asking rent.

• Tenure and lease information are not supplied.

• Administration charges and possible special-condition fees are unknown.

• The outhouses/stores conversion potential is unconfirmed and may require permissions or other approvals.

• A 75% refinance scenario may not cover the purchase and refurbishment outlay once all costs are included.

Recommendation

Proceed only subject to inspection, confirmed refurbishment pricing, legal review and a satisfactory valuation. Do not rely on the provisional GDV or on the unrelated rental listing. The opportunity is more suitable for a buyer able to manage refurbishment than for an immediately underwritten BTL or BRRR project.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and a clear property description, but the subject's tenure, condition detail, refurbishment budget, rental evidence, full fees and special conditions are missing. The comparables also show a very wide price range.