37 Fakes Road, Hemsby, Great Yarmouth, Norfolk

Description

Modern freehold one bedroom detached bungalow with off road parking. Of interest to cash buyers is this one bedroom detached bungalow built less than 20 years ago and extending to around 62 sq/m. It is in good decorative order and benefits from open plan living, double glazing, electric heating and off road parking. It has been run as a successful holiday let and is now to be sold with vacant possession. Ideal for owner occupation or investment. On instruction of an executor.

Accommodation

Ground floor: entrance hall, living room, kitchen, bathroom, bedroom. Outside: off road parking, courtyard garden, timber shed.

Location

Located around eight miles north of Great Yarmouth. Interested parties should make their own enquiries regarding coastal erosion in the area.

Tenure / Property Information

Investment Analysis

The five supplied completed sales are detached freehold properties on Fakes Road ranging from £130,000 to £238,000. However, their bedroom numbers, floor areas, condition and accommodation are not provided, so they are only broad location/type indicators rather than directly comparable evidence for this 62 sq m one-bedroom bungalow. A provisional comparable evidence range is £130,000–£238,000, with £155,000 used as a cautious base proxy based on the supplied sales, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat primarily as a potential owner-occupier purchase or cautious cash investment, subject to survey, legal-pack review and coastal-erosion enquiries. Do not bid on a yield or BRRR basis without verified income, costs and condition.

Works Required

No specific refurbishment works are evidenced: the property is described as being in good decorative order. Allowance is still required for any defects identified through inspection, legal-pack review or survey, but no unsupported cost has been assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £155,000 provisional GDV proxy, 75% refinancing would be approximately £116,250. A complete BRRR calculation is not possible because refurbishment costs, finance costs, rent and all purchase-related disbursements are not supplied. The comparable evidence is also insufficiently detailed to confirm the GDV.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property has previously operated as a holiday let, but no achieved income, occupancy or operating-cost data is provided. The £60,000–£70,000 guide is before the £1,200 buyer administration charge and any legal-pack disbursements.

Flip Analysis

A flip may show apparent gross value uplift against the guide, but a reliable surplus cannot be calculated. Refurbishment costs, finance costs, selling costs and any legal-pack charges are unknown, while the supplied comparables are not sufficiently detailed to confirm the subject's resale value.

Investor Risks & Due Diligence

• Coastal erosion requires independent investigation, as specifically flagged by the auctioneer.

• No sufficiently specific rental evidence or passing holiday-let income is supplied.

• The five sales lack bedroom, floor-area and condition details, limiting GDV reliability.

• Special Conditions of Sale may add search fees, seller-cost reimbursements, legal fees, transfer fees or other disbursements.

• Electric heating and EPC rating D may affect running costs and future improvement requirements.

• The £1,200 buyer administration charge is payable on exchange and is additional to the guide price.

Recommendation

Treat primarily as a potential owner-occupier purchase or cautious cash investment, subject to survey, legal-pack review and coastal-erosion enquiries. Do not bid on a yield or BRRR basis without verified income, costs and condition.

Strategy Rating

Analysis Confidence

The property description, tenure, guide and several same-road completed sales are supplied, but there is no specific rental evidence, no refurbishment budget, no detailed comparable accommodation data, and unknown legal-pack disbursements.