45 Clyde Road, Brockworth, Gloucester

Description

Freehold end of terrace 1950’s property requiring complete modernisation, with approximately 890 sq ft of accommodation over 2 floors, comprising 3 bedrooms and a generous rear garden. The property has severe damp and mould throughout due to a historic plumbing leak and is suitable for cash buyers only.

Accommodation

Approximately 890 sq ft arranged over 2 floors, comprising 3 bedrooms and a generous rear garden.

Location

Brockworth is a well-established and popular residential area offering local amenities, schools and transport links to Gloucester, Cheltenham and the M5. Nearby countryside and Coopers Hill provide opportunities for walks and outdoor pursuits.

Tenure / Property Information

Investment Analysis

Indicative GDV is set at £150,000, supported by the £150,000 sale at 50 Clyde Road and £148,000 sale at 57 Clyde Road. The £140,000 and £220,000 sales recorded for 46 Clyde Road show a wider evidence range, but the comparables do not confirm matching bedroom count, condition or specification. The subject requires complete modernisation and has severe damp and mould, so the GDV remains an estimate rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence unless a cash buyer obtains a specialist damp/plumbing inspection and a fully costed refurbishment plan. The guide may look low against nearby sales, but the unknown remediation cost prevents a defensible purchase price or project return.

Works Required

Complete modernisation of the approximately 890 sq ft house; investigate and rectify the historic plumbing leak; address the reported severe damp and mould; then undertake associated redecoration and general renewal evidenced by the description. No cost allowance is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £65,000 guide, the known buyer premium is £1,800 including VAT, but refurbishment costs are not supplied. A 75% refinance of the £150,000 base GDV would be £112,500; cash left in cannot be calculated without a supported works allowance and complete project-cost basis. Cash-buyer status and the eight-week completion requirement increase funding and execution requirements.

Buy-to-Let Analysis

The only supplied rental evidence is an advertised asking rent of £353 pcm, equivalent to £4,236 annually. Against the £65,000 guide this indicates a gross yield of approximately 6.52%, before works, finance, tax, insurance, maintenance, voids and other costs. The rent evidence is a single listing and no passing rent is established. The severe damp, mould and complete-modernisation requirement make the property unsuitable for a reliable BTL appraisal until works and costs are known.

Flip Analysis

A potential resale value of £150,000 is indicated by the base GDV, with evidence-supported scenarios of £140,000 to £220,000. However, the complete-modernisation requirement, severe damp and mould, unknown refurbishment cost and unknown selling costs prevent a reliable flip surplus or maximum bid calculation. The £220,000 comparable is not sufficiently detailed to use as a dependable base case.

Investor Risks & Due Diligence

• Severe damp and mould throughout is reported, linked to a historic plumbing leak.

• The property requires complete modernisation and no refurbishment cost estimate is supplied.

• Cash buyers only and completion is required within eight weeks or earlier by mutual consent.

• The rental evidence is a single advertised asking rent rather than achieved or passing rent.

• The comparable evidence includes materially different recorded prices for the same address and does not confirm matching condition or specification.

• EPC rating F may require improvement before or during letting, but the cost and legal position are not supplied.

• Off-street parking is only a possibility subject to necessary consents.

• The £1,800 buyer premium is payable on exchange and is included as a known acquisition cost where relevant.

Recommendation

Do not bid on the supplied evidence unless a cash buyer obtains a specialist damp/plumbing inspection and a fully costed refurbishment plan. The guide may look low against nearby sales, but the unknown remediation cost prevents a defensible purchase price or project return.

Strategy Rating

Analysis Confidence

There is useful sold-price evidence, a guide price and one advertised rent, but no refurbishment costs, inspection findings beyond the reported damp and mould, matching comparable specifications, selling costs, or finance costs.