42 Winsover Road, Spalding, Lincolnshire

Description

A commercial property offering scope to achieve a very attractive rental figure once occupied. The shop was most recently occupied by a charity shop, but it has the potential to be well suited to a number of different business uses, subject to necessary consents. The accommodation to the ground floor comprises two rooms and a kitchen area. To the first floor are two bedrooms, a lounge and a bathroom. Perfectly suited to either a buy to let investor or a buyer looking to find a property to run their own business from and with the ability to live above the commercial/retail part of the building. The property is being offered for sale with the benefit of vacant possession.

Accommodation

Ground floor: two rooms and a kitchen. First floor: two bedrooms, lounge and bathroom.

Location

Winsover Road is a convenient location close to bus routes and the train station, with easy access to supermarkets, restaurants, medical facilities and other independent businesses. The train station is a short distance away, with regular services to Lincoln and Peterborough.

Tenure / Property Information

Investment Analysis

The only completed sale of the subject property supplied is £105,000 in March 2022. Nearby Winsover Road evidence ranges from £99,950 to £109,000, but the comparables are dated and include different property types. A cautious evidence-based GDV range is £99,950–£109,000, with £105,000 as the base scenario. This is an estimate, not a formal valuation, and does not establish the value of the commercial and living elements separately.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming lawful use, condition, any required consents and achievable separate or combined rental income. On the supplied evidence, it is more suitable for an owner-operator or cautious mixed-use investor than an underwritten BTL or flip.

Works Required

No specific defects or refurbishment requirements are evidenced. Before occupation, confirm the lawful and suitable use of the ground-floor commercial space and first-floor living accommodation, establish whether any consents are required, and obtain a condition survey. No works allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £105,000 base GDV, 75% refinance is £78,750. Against the £91,800 guide price plus known £1,800 documentation fee, indicative cash left in is £13,050 before refurbishment, finance, tax and unknown seller-charged fees. The absence of rent and refurbishment evidence prevents a reliable BRRR return or maximum bid calculation.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is vacant, and the commercial and living accommodation may require appropriate consents before letting. At the £90,000 guide, the known buyer cost is £1,800, giving a known purchase-and-admin total of £91,800 before any refurbishment, finance, seller-charged fees or other costs.

Flip Analysis

The base GDV is estimated at £105,000 against a guide price of £90,000. After the known £1,800 documentation fee, the arithmetic difference before works, selling costs, finance, tax and any seller-charged fees is £13,200. A reliable flip surplus cannot be calculated because refurbishment and selling allowances are unsupported.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence or passing rent is supplied.

• The property is vacant, creating letting and income uncertainty.

• Ground-floor business uses are subject to necessary consents, which are not identified.

• No condition, refurbishment or heating information is supplied.

• The comparable sales are dated and include different property types.

• Additional seller-charged fees may apply under the special conditions and are not quantified.

• Commercial council tax information is supplied, but the treatment of the first-floor living accommodation is not clarified.

Recommendation

Proceed only after confirming lawful use, condition, any required consents and achievable separate or combined rental income. On the supplied evidence, it is more suitable for an owner-operator or cautious mixed-use investor than an underwritten BTL or flip.

Strategy Rating

Analysis Confidence

The subject property has a 2022 completed sale and several local comparables, but the evidence lacks current rental data, condition information, refurbishment costs, use consents, selling costs and details of possible seller-charged fees.