37 Chambers Road, St. Leonards-on-Sea, East Sussex

Description

A Vacant Three Bedroom Semi Detached House in Need of Refurbishment. The property comprises a three bedroom semi detached house arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room; Kitchen. First Floor: Three Bedrooms (one with an en-suite); Bathroom. Exterior: The property benefits from both front and rear gardens.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Marsh Wood are within easy reach. Transport links are provided by St Leonards Warrior Square rail station.

Tenure / Property Information

Investment Analysis

The same-road completed sales range from £218,000 to £272,500, with the most recent supplied sale at £260,000 in July 2024. A base GDV of £260,000 is used, with £218,000 as a low scenario and £272,500 as a high scenario. These are indicative only because the comparable properties' condition, size and specification are not supplied. The guide price is £145,000, plus the stated £1,800 administration charge and unspecified buyer premium and other possible disbursements.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a refurbishment-led BRRR or resale strategy at or near the guide, subject to inspection, legal-pack review and confirmation of the full fee schedule. The BTL case is supported by the supplied asking-rent evidence, but the unknown refurbishment scope and auction costs require a conservative bid.

Works Required

Refurbishment of the house as indicated by the auction description, including the reception room, kitchen, three bedrooms, en-suite and bathroom. The precise scope, specification and cost cannot be confirmed without inspection and the legal pack. The £20,000–£35,000 range is an underwriting allowance, not a contractor quotation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide price, the base purchase, refurbishment and stated administration charge total £174,300 before unknown buyer premium and other fees. A 75% refinance against the £260,000 base GDV indicates £195,000, implying approximately £20,700 more than the stated base project cost could be refinanced before finance, tax and other costs. This is highly dependent on achieving the assumed GDV, completing the refurbishment within allowance and lender valuation criteria.

Buy-to-Let Analysis

Using the supplied £1,350 pcm advertised asking rent, annual gross rent is £16,200. This equates to approximately 11.2% gross yield on the £145,000 guide price and 9.3% on the guide price, £27,500 base refurbishment allowance and £1,800 administration charge. The calculation excludes the unknown buyer premium, other purchase costs, finance, voids, management, maintenance, insurance and taxation. The rent is advertised rather than achieved and no EPC or property operating-cost data is supplied.

Flip Analysis

On the supplied evidence, the £260,000 base GDV less the £174,300 base purchase/refurbishment/administration cost implies £85,700 before selling costs, finance, tax, buyer premium, other acquisition fees and any contingency overrun. A formal flip surplus is not stated because no supported selling-cost allowance is supplied. The result is therefore an indicative gross margin rather than a net profit forecast.

Investor Risks & Due Diligence

• The property is expressly described as needing refurbishment, but no detailed survey, schedule of works or contractor quotation is provided.

• Buyer premium, search fees, seller-cost reimbursement, legal fees, transfer fees and other disbursements are unspecified and excluded from the base calculations.

• The GDV scenarios rely on same-road sales whose condition, size and specification are not supplied.

• The £1,350 pcm figures are advertised asking rents, not achieved rents; the £1,850 pcm evidence relates to flats and is not used.

• No EPC, council tax, heating, parking, finance, insurance, maintenance or management-cost information is supplied.

• Auction purchase and refinancing outcomes remain subject to legal-pack review, valuation and lender criteria.

Recommendation

Potentially suitable for a refurbishment-led BRRR or resale strategy at or near the guide, subject to inspection, legal-pack review and confirmation of the full fee schedule. The BTL case is supported by the supplied asking-rent evidence, but the unknown refurbishment scope and auction costs require a conservative bid.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and one relevant advertised house rent, but the property's condition, floor area, EPC, running costs, buyer premium, legal disbursements and exact refurbishment scope are not supplied.