4 Meadow Road, Looe, Lanreath, Cornwall, PL13 2NS

Description

A three bedroom linked semi detached property requiring modernisation, situated in the popular rural village of Lanreath. The property offers two reception rooms, kitchen, shower room and utility/store room to the ground floor, with three bedrooms to the first floor and having the benefit of good sized front and rear gardens, with on drive parking.

Accommodation

Ground floor: Entrance hall, living room, dining room, kitchen, shower room, rear lobby and utility/store room. First floor: Landing and three bedrooms.

Location

The popular rural village of Lanreath is situated circa 4 miles from the coast and 6 miles from Polperro and Looe with a branch line to Liskeard and a wide range of bespoke shops, cafes and restaurants. The village enjoys a strong community spirit, with a village shop/post office, St Manarchs Church and a licensed village hall.

Tenure / Property Information

Investment Analysis

Same-road completed sales provide the strongest evidence: £175,000 for 7 Meadow Road in September 2021 and £225,000 for 9 Meadow Road in March 2022. The comparable properties' condition and specification are not supplied, so an indicative scenario range of £175,000–£225,000 is used, with £200,000 as the base GDV. The older £95,000 sale from 2009 is not relied upon as a primary current benchmark.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally, subject to legal-pack review, survey and a fully priced modernisation schedule. The guide appears below the indicative same-road GDV evidence, but the missing works, tenure and occupancy information prevent a reliable maximum bid or confirmed strategy.

Works Required

Modernisation is required, but no detailed condition report or works schedule is supplied. Scope and cost cannot therefore be quantified. The property is described as having three bedrooms, two reception rooms, kitchen, shower room, utility/store room, gardens and on-drive parking.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £140,000 guide, the indicative base GDV is £200,000 and 75% of that GDV is £150,000. However, refurbishment costs, tenure, occupancy, finance costs and the complete purchase-cost position are not supplied, so cash required and refinance surplus cannot be calculated reliably.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £725 pcm, equivalent to £8,700 annually; no achieved or passing rent is supplied. This indicates a gross yield of 6.21% on the £140,000 guide before refurbishment, finance, tax and other costs. The auction admin charge at the guide is approximately £2,268 including VAT, before any additional legal-pack charges. A net yield cannot be established.

Flip Analysis

The indicative GDV range is £175,000–£225,000, with a £200,000 base case. A flip surplus cannot be calculated because the modernisation budget, selling costs and full acquisition costs are unavailable. The gap between guide price and GDV should not be treated as profit.

Investor Risks & Due Diligence

• Modernisation is required but the scope and cost are unknown.

• Tenure, occupancy and lease information are not supplied.

• The £725 pcm figure is an advertised asking rent rather than achieved or passing rent.

• EPC rating is E, which may affect letting or refinance assessment.

• Auction admin charges apply and the legal pack may contain additional seller legal-fee requirements.

• Comparable sale prices range from £175,000 to £225,000 and the comparable properties' condition and specification are not supplied.

Recommendation

Proceed only conditionally, subject to legal-pack review, survey and a fully priced modernisation schedule. The guide appears below the indicative same-road GDV evidence, but the missing works, tenure and occupancy information prevent a reliable maximum bid or confirmed strategy.

Strategy Rating

Analysis Confidence

There are two relevant same-road completed sales and one advertised rent, but comparable condition, property tenure, occupancy, refurbishment cost and full acquisition/selling costs are not supplied.