46 George Street, King's Lynn, Norfolk

Description

A three bedroom terraced house within walking distance of Kings Lynn town centre requiring some updating. This three bedroom terraced house is ideally located within walking distance of Kings Lynn town centre and railway station. The property requires some updating and briefly comprises lounge, dinning room, kitchen and bathroom to the ground floor. On the first floor there are three bedrooms and outside to a rear small courtyard.

Accommodation

Ground floor: lounge, dinning room, kitchen and bathroom. First floor: three bedrooms. Outside: rear small courtyard.

Location

Within walking distance of Kings Lynn town centre and railway station.

Tenure / Property Information

Investment Analysis

The five same-street HM Land Registry comparables range from £100,000 to £156,000, with a median of £118,000. Differences in size, specification, condition and sale circumstances are not supplied, so the median is used as the base GDV rather than treating the highest sale as directly comparable. A supported observed range is £100,000–£156,000. The property requires some updating, but no detailed schedule or condition report is provided.

Investment Snapshot

Strategy Recommendation

Potential value opportunity at the guide, but proceed only after reviewing the legal pack, inspecting the property and obtaining a detailed updating quotation. Do not set a maximum bid until works, additional charges and resale assumptions are verified.

Works Required

Update the lounge, dining room, kitchen, bathroom and other areas identified during inspection, subject to a full survey and contractor quotations. No specific defects or scope of works are evidenced, so no refurbishment allowance is estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £118,000 base GDV, a 75% refinance is £88,500. However, refurbishment cost, total project cost, finance costs and achievable rent are unsupported, so cash left in and BRRR returns cannot be calculated reliably.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. At the £80,000 guide, the known buyer premium and admin charge add £2,400, giving £82,400 before refurbishment, finance, legal, disbursement and other costs.

Flip Analysis

The base GDV is £118,000 based on the median of the supplied same-street sales. At the £80,000 guide plus the known £2,400 buyer and admin charges, £35,600 remains before works, selling costs, finance, legal costs, disbursements and other charges. A flip surplus cannot be calculated without a supported works allowance and selling-cost allowance.

Investor Risks & Due Diligence

• The property requires some updating, but the scope and cost of works are unknown.

• No sufficiently specific rental evidence is available, preventing reliable BTL yield analysis.

• The comparable sales range is wide at £100,000–£156,000 and differences in size, specification and condition are unknown.

• Buyer premium and admin charge total £2,400, with further legal-pack disbursements and other possible charges.

• Current EPC rating is E and any improvement requirements or costs are not evidenced.

Recommendation

Potential value opportunity at the guide, but proceed only after reviewing the legal pack, inspecting the property and obtaining a detailed updating quotation. Do not set a maximum bid until works, additional charges and resale assumptions are verified.

Strategy Rating

Analysis Confidence

Same-street completed sales and the guide price are available, but property-specific size, condition detail, rental evidence, refurbishment costs and complete purchaser charges are not supplied.