44, Percy Road, Ramsgate, Kent

Description

Freehold two floor mid terrace house requiring modernisation. Full vacant possession.

Accommodation

First floor: Two bedrooms, bathroom/WC. Ground floor: Two reception rooms, kitchen, WC. Outside: Rear garden. Gross Internal Area GIA approximately 84 sq m (904 sq ft).

Location

The property is situated on Percy Road between its junctions with Margate Road and St Lukes Avenue. Public transport links include Dumpton Park and Ramsgate mainline rail stations together with a network of local bus services serving the surrounding vicinity. Road links include the A255 and A299. An extensive range of shopping amenities, cafes, bars and restaurants can be found locally within Ramsgate Town Centre and Broadstairs and Ramsgate Harbour. Recreational pursuits can be found locally at the open spaces of Ellington Park, King George VI Memorial Park and Ramsgate’s seafront and beaches.

Tenure / Property Information

Investment Analysis

Five supplied same-road completed sales range from £185,000 to £265,000, with a median of £225,000. The subject is a 2-bedroom, 84 sq m freehold terrace requiring modernisation, but the comparable properties' size, condition and specification are not supplied. A base GDV of £225,000 is therefore an indicative evidence-based estimate only, with a broad observed-sales range of £185,000–£265,000.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a full survey, confirmation of parking/heating and review of the special conditions. The property may suit a refurbishment-led resale, but the incomplete works and rental evidence prevent a reliable bid or hold assessment.

Works Required

Modernisation of the property as indicated by the auction description. The evidence does not specify required works, defects, services condition, kitchen/bathroom condition or finish standard, so no reliable cost allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £225,000, 75% refinance is approximately £168,750. The required modernisation cost and total acquisition cost are unknown, so cash required, equity position and BRRR viability cannot be established.

Buy-to-Let Analysis

BTL analysis cannot be quantified because no sufficiently specific rental evidence or auctioneer rent estimate is provided. Gross yield, annual rent and total-cost yield are therefore unsupported.

Flip Analysis

The supplied same-road sales support an indicative base GDV of £225,000, with observed sales from £185,000 to £265,000. A flip surplus cannot be calculated because refurbishment costs, selling costs and any additional seller charges are unknown.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not specified beyond a general requirement for modernisation.

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

• The supplied comparables do not include their condition, size or specification, limiting GDV precision.

• Parking and heating details require confirmation from the auction centre.

• The seller may charge additional completion fees under the special conditions, but the amount is not supplied.

• Vacant possession is stated, but no further letting or occupancy information is provided.

Recommendation

Proceed only subject to a full survey, confirmation of parking/heating and review of the special conditions. The property may suit a refurbishment-led resale, but the incomplete works and rental evidence prevent a reliable bid or hold assessment.

Strategy Rating

Analysis Confidence

There are five relevant same-road completed sales and a stated guide price, but the comparables lack condition and size details, while refurbishment scope, rent, parking, heating and possible seller charges remain unconfirmed.