38 St. Pauls Street, Crewe

Description

A wonderful opportunity to acquire this substantial detached Victorian property, offering scope for a wide range of purposes, and potentially an ideal redevelopment opportunity. The property has both commercial and residential conversion capacity subject to the necessary consents being obtained, and the potential for reconfiguration to multiple self contained apartments in this area of strong rental demand, subject to planning permissions being obtained. The property is situated on a site of Approx 0.12 acres, and over 4000 sq ft of internal space, with off street parking.

Accommodation

Basement; Ground Floor: Hallway, Room, Room, Room, Kitchen, W.C, W.C; First Floor: Landing, Room, Room, Room, Room, Room, W.C, W.C

Location

The property is prominently positioned on St Pauls Street, Crewe, ideally located for the town centre and a wide range of facilities and amenities, including access to the Rail Station with direct link to London Kings Cross and Manchester. Crewe itself is ideally located for access to both the North West and the Midlands.

Tenure / Property Information

Investment Analysis

The only supplied comparable is 32 St Pauls Street at £77,000 in March 2015. It is historic and provides insufficient support for a current value of this substantially larger, over-4,000 sq ft property. Current GDV and maximum bid cannot be reliably established from the evidence.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, commissioning a building survey, obtaining planning advice and pricing any conversion works. No evidence-based bid limit can be set.

Works Required

Any reconfiguration into apartments or commercial/residential use would require appropriate planning and other consents. The evidence does not establish specific defects or a refurbishment scope.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is not supportable because current GDV, refurbishment costs, achievable rent and post-works configuration are unknown. Planning and conversion viability require investigation.

Buy-to-Let Analysis

The supplied rents relate to advertised 2- and 3-bedroom properties, while the subject bedroom count and lettable configuration are unspecified. A reliable rent or yield cannot therefore be established.

Flip Analysis

A flip surplus cannot be calculated. The only comparable is historic, and both conversion costs and a current resale value are unsupported.

Investor Risks & Due Diligence

• Potential conversion or apartment reconfiguration requires planning and other necessary consents.

• The property's condition and refurbishment requirements are not evidenced.

• Current market value and resale GDV are unsupported by the single historic comparable.

• Applicable rental income cannot be established from the supplied listings.

• Legal-pack disbursements, seller costs, legal fees, search fees and transfer fees may be payable.

• Council tax band is not listed.

• EPC rating is E.

Recommendation

Proceed only after reviewing the legal pack, commissioning a building survey, obtaining planning advice and pricing any conversion works. No evidence-based bid limit can be set.

Strategy Rating

Analysis Confidence

The evidence lacks current comparable sales, applicable rent evidence, bedroom count, condition detail, refurbishment costs, planning status and several purchase cost inputs.