47 Witham Road, Spalding, Lincolnshire

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.

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

The five supplied same-road freehold terraced sales range from £164,000 to £239,000, with three most recent sales at £170,000, £195,000 and £195,000. A base GDV of £195,000 is a reasonable evidence-led estimate, but bedroom counts, condition and specification of the comparables are not supplied. The £239,000 sale is treated as an upper scenario rather than the base case. The £137,000 guide is below the supplied comparable range, subject to auction competition and special conditions.

Investment Snapshot

Strategy Recommendation

Treat as a potential value-led purchase only after confirming condition, parking, heating and special conditions. Do not underwrite as a BTL or BRRR project until rent and total project costs are evidenced; bid discipline should reflect the £1,800 documentation fee and unknown seller charges.

Works Required

No specific defects or required works are evidenced. Obtain a viewing, survey and confirmation of heating and parking arrangements. Allow for works only after condition is verified; the EPC is rated B.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £195,000 base GDV scenario, 75% refinance is approximately £146,250. A meaningful BRRR cash-left-in calculation cannot be completed because refurbishment costs, rent, finance costs and any seller charges are not supplied. The strategy depends on the property condition, achievable rent and actual auction purchase price.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Gross yield, operating margin and debt-service assessment are therefore unavailable. The known £1,800 contract documentation fee would also need to be included alongside the purchase price and any other seller charges.

Flip Analysis

The supplied comparable evidence supports a broad resale range of £170,000 to £239,000, with £195,000 as the base GDV. A flip surplus cannot be calculated because refurbishment costs and a supported selling-cost allowance are unavailable. The apparent guide-to-GDV margin must not be treated as profit.

Investor Risks & Due Diligence

• The supplied comparable bedroom counts, condition and specifications are unknown, limiting GDV precision.

• No sufficiently specific rental evidence is available, so BTL yield and affordability cannot be assessed.

• Property condition and any required refurbishment costs are not supplied.

• Parking and heating details require confirmation.

• A £1,800 inclusive-of-VAT contract documentation fee is payable, and additional seller fees may apply under the special conditions.

• The final auction price may exceed the £137,000 guide.

Recommendation

Treat as a potential value-led purchase only after confirming condition, parking, heating and special conditions. Do not underwrite as a BTL or BRRR project until rent and total project costs are evidenced; bid discipline should reflect the £1,800 documentation fee and unknown seller charges.

Strategy Rating

Analysis Confidence

Same-road completed sales and the property’s basic accommodation, tenure and EPC are supplied, but comparable specifications, condition, achievable rent, refurbishment cost, parking, heating and possible seller charges are not evidenced.