4 Frenchgate, Richmond DL10 4JG

Description

Mixed-Use Investment Opportunity Near Richmond Market Place – Shop/Office & 3-Bedroom Flat. A mixed-use investment property just off Richmond Market Place. The ground floor comprises a 217 sq ft (20.16 sq m) shop/office, currently let on a lease of £400 pcm until April 2027. A separate courtyard entrance leads to a two-floor, large three-bedroom flat, currently vacant and requiring a scheme of refurbishment. Following refurbishment, the property would present as a strong yield opportunity as a private rental or holiday let for the tourism market.

Accommodation

Ground floor: 217 sq ft (20.16 sq m) shop/office. First floor: kitchen, bathroom and two bedrooms. Second floor: lounge and one bedroom.

Location

Just off Richmond Market Place, Richmond, a thriving market town and popular tourist destination.

Tenure / Property Information

Investment Analysis

The sold comparables range from £110,000 to £580,000 and do not establish a reliable value for this mixed-use property because their accommodation and condition are not supplied. The flat requires refurbishment, while no rental evidence is provided for it.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence; obtain the legal pack, a refurbishment quotation, flat rental evidence and a more comparable valuation first.

Works Required

Refurbishment scheme to the vacant three-bedroom flat; the available evidence does not specify the required scope or cost.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified without a supported post-refurbishment GDV, refurbishment budget and flat rent. The known guide-price costs are £2,520 buyer premium plus the £1,800 administration charge, before any disbursements or refurbishment.

Buy-to-Let Analysis

The shop currently produces £400 pcm (£4,800 annually), but the vacant flat has no supported rental estimate. Whole-property BTL yield therefore cannot be established. The shop lease ends in April 2027 and will not be renewed.

Flip Analysis

A flip appraisal cannot be quantified because the comparable sales are highly varied and no supported refurbishment cost or resale allowance is available.

Investor Risks & Due Diligence

• The vacant three-bedroom flat requires refurbishment of unspecified scope and cost.

• The flat has no supported rental estimate, preventing whole-property yield analysis.

• The shop lease ends in April 2027 and will not be renewed.

• Tenure and possible legal-pack disbursements are not provided.

• Sold comparables show a wide range and may not be directly comparable.

Recommendation

Do not bid on current evidence; obtain the legal pack, a refurbishment quotation, flat rental evidence and a more comparable valuation first.

Strategy Rating

Analysis Confidence

No flat rental evidence, refurbishment budget, reliable property-specific valuation or complete legal-cost information is supplied.