4 Rigbourne Hill, Beccles, Suffolk

Description

Vacant one bedroom maisonette with private rear garden. This vacant ex local authority one bedroom first floor maisonette extends to around 45 sq/m. The property is double glazed, has gas central heating and requires some improvement to realise its full potential. The good EPC C rating makes it ideal as a potentially high yielding buy to let investment or for owner occupation.

Accommodation

Ground floor: entrance hall. First floor: landing, bathroom, lounge, bedroom, kitchen. Outside: rear garden with brick outbuilding, summer house and timber shed.

Location

Located around a mile north of the town centre near a comprehensive range of services and amenities.

Tenure / Property Information

Investment Analysis

The £70,000–£80,000 guide is the only current pricing evidence. The sole comparable, 4A Rigbourne Hill, sold for £59,000 in March 2018 and is too old to support a current GDV without further evidence. No supported market value, rent or refurbishment budget can therefore be established.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, service charge, disbursements and a condition assessment. Treat as a cautious owner-occupier or BTL opportunity rather than underwriting a value-add strategy.

Works Required

Inspect and quantify the stated improvements, including the kitchen, bathroom, decoration and external garden buildings. Confirm all works through a survey and the legal pack; no specific defects or costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten because current GDV, refurbishment cost, rent and refinance value are unsupported. The 101-year lease remaining is stated, but leasehold costs require legal-pack review.

Buy-to-Let Analysis

The property is vacant and described as potentially suitable for buy to let, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Yield cannot be established. Service charge and purchaser disbursements are also unknown.

Flip Analysis

A flip appraisal cannot be supported. The only comparable is a 2018 sale at £59,000, with no current resale evidence, quantified works budget or selling allowance.

Investor Risks & Due Diligence

• Unknown service charge and possible legal-pack disbursements

• Leasehold tenure with 101 years remaining

• Condition is described only as requiring some improvement, with no quantified budget

• No sufficiently specific rental evidence

• The only supplied comparable completed in 2018 may not represent current value

Recommendation

Proceed only after reviewing the legal pack, service charge, disbursements and a condition assessment. Treat as a cautious owner-occupier or BTL opportunity rather than underwriting a value-add strategy.

Strategy Rating

Analysis Confidence

Current market, rental, refurbishment, service-charge and resale-cost evidence is incomplete; the sole comparable is historic.