4 New Buildings, Well Street, Exeter, Devon, EX4 6JD

Description

A Vacant One Bedroom Mid Terrace House in Need of Refurbishment. Potential For A Rear Extension and To Convert into a Two Bedroom House (Subject to Obtaining all Relevant Consents). The property comprises a one bedroom mid terrace house arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room; Kitchen. First Floor: Bedroom; Bathroom. Exterior: Front and rear gardens, together with an additional parcel of land situated to the front of the property.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Belmont Park Exeter are within easy reach. Transport links are provided by St James Park rail station.

Tenure / Property Information

Investment Analysis

Five completed sales at the same address range from £145,000 to £184,000. The median is £165,000. These provide indicative value evidence, but bedroom configuration, condition and improvement status are not supplied, and the listing conflicts on bedroom count: the description states one bedroom with potential conversion to two.

Investment Snapshot

Strategy Recommendation

Consider only as a refurbishment or potential conversion project after reviewing the legal pack, confirming consents and obtaining a detailed works budget.

Works Required

Refurbishment is required, but no detailed schedule or cost evidence is supplied. A rear extension and conversion to two bedrooms are only potential options, subject to all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £75,000 guide, the stated £1,800 administration charge gives £76,800 before refurbishment and other possible auction costs. A 75% refinance against the indicative £165,000 base GDV is £123,750, but cash left in cannot be calculated without works and total project costs.

Buy-to-Let Analysis

BTL viability cannot be established because no property-specific achieved or asking rent is supplied. The rental examples are broad, non-property-specific listings and are not reliable for this property.

Flip Analysis

The completed-sale evidence supports an indicative value range of £145,000 to £184,000, with a £165,000 midpoint. A flip surplus cannot be calculated because refurbishment, selling and other project costs are unsupported.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not provided.

• Rear extension and two-bedroom conversion require relevant consents and are not guaranteed.

• The listing conflicts on whether the property currently has one or two bedrooms.

• Rental evidence is non-specific and cannot support a reliable yield.

• Special conditions may create additional search, legal, transfer or seller-cost liabilities.

Recommendation

Consider only as a refurbishment or potential conversion project after reviewing the legal pack, confirming consents and obtaining a detailed works budget.

Strategy Rating

Analysis Confidence

Same-address completed sales are available, but condition, configuration, rental, refurbishment and total-cost evidence is incomplete; the bedroom description is also inconsistent.