44 Fawcus Place, Chard, TA20 1LW

Description

A one bedroom ground floor flat. In need of modernisation. New 990 year lease on completion. EPC rating - C.

Accommodation

Ground Floor - Reception Room, Kitchen, Bedroom, Bathroom.

Location

Located on Fawcus Place, accessed off Combe Street. The property is well located for the shopping and recreational amenities of Chard. Chard High Street and the expansive Snowdon Park are nearby. Road links via the A30. Transport Axminster - GWR, South Western Railway.

Tenure / Property Information

Investment Analysis

Recent same-place leasehold flat sales provide indicative value evidence of £104,000 to £117,000: 49 Fawcus Place sold for £104,000 in 2020 and 40 Fawcus Place sold for £117,000 in 2022. These are not confirmed to be identical in size, layout or condition, and the subject flat needs modernisation. A base GDV of £110,500 is therefore an indicative midpoint only, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming the new lease terms and obtaining a detailed refurbishment and services-reconnection budget. The guide-to-GDV spread is potentially attractive, but the evidence is insufficient to set a reliable bid limit or confirm a rental strategy.

Works Required

Modernisation of the flat as required by its condition description. Services are disconnected, so reconnection by correctly qualified engineers will be required. The extent and cost of works cannot be established from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The indicative base GDV is £110,500 and 75% of this is £82,875. A meaningful BRRR cash-left-in calculation is not possible because refurbishment costs, buyer charges, lease-related costs and other acquisition costs are unknown. The new 990-year lease remains subject to the legal pack.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence, auctioneer rent estimate, service charge, buyer fee or refurbishment budget is supplied. The EPC is stated as C, but this does not establish achievable rent or yield.

Flip Analysis

At the £45,000 guide, the indicative gross difference against the £110,500 base GDV is £65,500 before refurbishment, buyer, legal, finance, selling and other costs. A net flip surplus cannot be calculated because the required cost evidence is incomplete.

Investor Risks & Due Diligence

• The flat is described as needing modernisation, but the scope and cost of works are not supplied.

• All services are disconnected and reconnection costs and system condition are unknown.

• Buyer fee, VAT and any seller charges are not specified.

• The new 990-year lease and its terms require legal-pack verification.

• No sufficiently specific rental evidence is available.

• The sold comparables are different flats and may differ in size, layout and condition; the most recent evidence is from 2022.

Recommendation

Proceed only after reviewing the legal pack, confirming the new lease terms and obtaining a detailed refurbishment and services-reconnection budget. The guide-to-GDV spread is potentially attractive, but the evidence is insufficient to set a reliable bid limit or confirm a rental strategy.

Strategy Rating

Analysis Confidence

There is useful same-location sold-price evidence and a stated guide price, but no floor area, current condition detail, rental evidence, refurbishment budget, service-charge information, buyer/admin fees or complete seller-cost details.