417 Williamthorpe Road, North Wingfield, Chesterfield, Derbyshire S42 5NT

Description

Auctioneer: Freehold two-bedroom detached bungalow on an approximately 0.2-acre plot. The property requires a comprehensive scheme of repair and improvement and offers redevelopment potential subject to consents. Accommodation includes lounge, kitchen/diner, two bedrooms and bathroom, with extensive grounds, driveway and several outbuildings including garages.

Accommodation

Lounge, kitchen/diner, two bedrooms and bathroom. Large front/side/rear grounds, driveway, two single garages, detached double garage and rear garden room.

Location

North Wingfield is south-east of Chesterfield with road access toward the A617/M1 and nearby employment areas. The large plot is the key value driver: refurbishment may suit an owner-occupier or investor, while redevelopment or intensification should only be valued after planning feasibility is tested.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Refurbishment & Resale / Development. The guide price should be treated as the starting point only. A maximum bid should be based on verified legal-pack liabilities, property condition, finance terms and local market evidence rather than the guide alone.

Works Required

• Full strip-out and refurbishment allowance

• Roof, damp, structure and services investigation

• Kitchen and bathroom replacement

• Heating/electrical upgrades and full decoration

• Clear/manage extensive plot and inspect outbuildings

• Planning feasibility study before assuming redevelopment value

Rental & Market Context

HB indicative market rent is £900–£1,050 pcm (£10,800–£12,600 pa). This is an HB estimate, not an auctioneer-quoted rent unless specifically stated in the Description section. Local letting-agent evidence should be checked before bidding.

Sold within approximately 5 miles

Reliable recent sold-comparable evidence has not been inserted without property-level verification. Land Registry and closely matched local comparables should be checked for type, condition, tenure and accommodation before setting a maximum bid.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is approximately £142,500–£168,750. Actual refinance depends on lender valuation, rental stress testing, condition, property type, borrower circumstances and seasoning requirements.

Flip Analysis

Indicative gross spread before transaction/finance costs is approximately £-10,000–£55,000. This is not profit and excludes SDLT, buyer/admin fees, legal fees, finance, holding costs, professional fees, selling costs, contingency and tax.

Investor Risks & Due Diligence

• Comprehensive survey essential due visible condition

• Redevelopment value is planning-dependent

• Budget contingency for structural and service defects

• Check title for covenants/easements affecting the large plot

• Confirm GDV with local sold evidence before bidding

Recommendation

Initial recommendation: Refurbishment & Resale / Development. The opportunity is strongest where the source facts can be verified and the total project cost remains comfortably below a conservatively evidenced end value. Do not bid solely on the headline yield or guide price.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★★☆ | Flip: ★★★☆☆