47 Witham Road, Spalding, Lincolnshire, PE11 3WT

Description

Freehold mid terrace house

Accommodation

First floor: Principal bedroom with en-suite, two further bedrooms, bathroom/wc. Ground floor: Reception room, kitchen/dining room, cloakroom/wc. Outside: Rear garden, allocated parking.

Location

The property is located on Witham Road. Shopping amenities are available locally within Spalding Town Centre, with a more comprehensive range of shops, bars and restaurants found within Peterborough City Centre lying to the south. Public transport links are available at Spalding Train Station located to the east, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A16 and the A151, both lying to the east. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

Five supplied completed sales on the same road range from £164,000 to £239,000, with a median of £170,000. The evidence confirms terraced freehold sales but does not provide their bedroom counts, condition or specification, so the comparison is indicative only. The base GDV uses the observed median; the low and high scenarios use the lower and upper supplied sale prices without adjustment.

Investment Snapshot

Strategy Recommendation

Do not bid above the guide on the current evidence without confirming condition, legal-pack obligations, seller fees and achievable rent. The property may suit an owner-occupier, but investment returns are unproven.

Works Required

No defects or refurbishment requirements are evidenced. Obtain the legal pack, heating information and an inspection before budgeting for works; no works allowance has been assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £170,000 base GDV, a 75% refinance is £127,500. Against the known minimum acquisition cost of £170,800, indicative cash left in is £43,300 before finance, tax, works and other completion costs. No rent or refurbishment budget is available, so BRRR viability cannot be confirmed.

Buy-to-Let Analysis

A sufficiently specific rental comparable or auctioneer rent estimate has not been supplied, so rent and gross yield cannot be established. The known minimum acquisition cost is £170,800, comprising the £169,000 guide and £1,800 contract documentation fee, excluding any seller fees, finance, tax and works.

Flip Analysis

The base GDV of £170,000 is only £800 below the guide plus the known £1,800 documentation fee, before works, selling costs, finance, tax and any seller fees. The supplied evidence therefore does not support a positive flip margin. A formal flip surplus cannot be calculated because no selling-cost allowance or works budget is supplied.

Investor Risks & Due Diligence

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

• No condition or refurbishment information is supplied, and heating details require confirmation.

• The comparable sales do not include bedroom counts, condition or specification.

• The £1,800 documentation fee is known, but additional seller fees may apply under the special conditions.

• The guide is not a confirmed purchase price and auction competition may increase the final price.

Recommendation

Do not bid above the guide on the current evidence without confirming condition, legal-pack obligations, seller fees and achievable rent. The property may suit an owner-occupier, but investment returns are unproven.

Strategy Rating

Analysis Confidence

Same-road completed-sale evidence is available, but the comparables lack bedroom, condition and specification details. No rent, condition, heating information, refurbishment budget or seller fees are supplied.