4, Mill Farm Nurseries, Swaffham, Norfolk, PE37 7PJ

Description

Three bedroom detached bungalow situated close to the town centre to be sold with vacant possession. The property requires full refurbishment throughout. The property does benefit from gas central heating, although this has not been used for multiple years and the condition is unknown. Benefiting from rear garden and off road parking for multiple vehicles.

Accommodation

Entrance Hall, Lounge, Kitchen, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom

Location

Situated close to the town centre.

Tenure / Property Information

Investment Analysis

Same-development detached freehold sales range from £232,000 to £350,000. The £265,000 median is used as the base GDV, with £235,000 as a conservative scenario and £350,000 as an upper evidence-supported scenario. Differences in size, specification and condition are not supplied, so the GDV range has limited precision.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led resale or BRRR project, but only proceed after confirming the auction special conditions, inspecting the property and obtaining a detailed refurbishment quote. The absence of rent and works-cost evidence makes BTL underwriting unsuitable at this stage.

Works Required

Full refurbishment throughout as stated by the auctioneer. The gas central-heating system should be inspected and tested because it has not been used for multiple years and its condition is unknown. No specific refurbishment scope or cost schedule is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £160,000 guide, the property is below the £265,000 base GDV, but refurbishment cost, finance costs and any seller charges are unknown. A 75% refinance against the base GDV would be approximately £198,750, but cash left in cannot be calculated without total project cost. Do not rely on this until a full survey and refurbishment budget are obtained.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Full refurbishment and unknown heating condition also prevent a reliable total-cost yield assessment.

Flip Analysis

The comparable sales support a broad post-refurbishment value range of £235,000 to £350,000, with £265,000 used as the base case. A flip surplus cannot be calculated because refurbishment costs, selling costs and any additional seller charges are not supplied.

Investor Risks & Due Diligence

• Full refurbishment is required, but no works specification or cost estimate is supplied.

• Gas central-heating condition is unknown because it has not been used for multiple years.

• Comparable sale prices vary materially from £232,000 to £350,000, with no size or condition details supplied.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• An £1,800 inclusive-of-VAT contract documentation fee is payable, and further seller charges may apply under the special conditions.

• EPC is listed as TBC.

Recommendation

Potential refurbishment-led resale or BRRR project, but only proceed after confirming the auction special conditions, inspecting the property and obtaining a detailed refurbishment quote. The absence of rent and works-cost evidence makes BTL underwriting unsuitable at this stage.

Strategy Rating

Analysis Confidence

There are several same-development sold comparables and a stated guide price, but no property measurement, condition survey, refurbishment estimate, rental evidence, EPC or complete fee schedule.