50 South Street, Dorchester, Dorset, DT1 1DQ

Description

A Vacant Substantial Mid Terrace Grade II Listed Building Formerly Used as a NatWest Bank

Accommodation

Ground Floor: Bank Area, Meeting Rooms, Stationery Room, WCs. First Floor: Kitchen, Staff Room, Plant Room. Mezzanine Floor: Offices, WCs, Store Room. Second Floor: Two Store Rooms, 2 Rooms. Exterior: rear car park for 9 cars.

Location

Situated on a pedestrianised road close to local shops and amenities. Nearby multiples include Holland & Barrett, Costa Coffee and Vodafone. Borough Gardens are within easy reach. Transport links are provided by Dorchester South rail station.

Tenure / Property Information

Investment Analysis

The supplied sales evidence shows South Street freehold transactions from £750,000 to £1,950,000, including £822,000 for No. 48 in 2023. However, the comparables are described only as “Other” and no floor areas, accommodation, condition, use, income or valuation adjustments are supplied. They cannot support a reliable GDV for this substantially configured Grade II Listed former bank. The £200,000+ guide is therefore not independently validated by the available evidence.

Investment Snapshot

Strategy Recommendation

Do not rely on the guide as a maximum bid. Consider only after reviewing the legal pack, obtaining a commercial valuation and condition survey, confirming Grade II Listed constraints and establishing the property’s viable future use, rent or resale value.

Works Required

No specific works can be costed from the evidence. The vacant Grade II Listed building requires a condition survey and confirmation of any listed-building, repair, compliance and conversion requirements before a refurbishment allowance can be established.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be reliably calculated because GDV, rent, refurbishment cost and total acquisition cost are unsupported. Any refinance case would require a specialist commercial valuation, condition assessment and confirmation of the building’s permitted and viable use.

Buy-to-Let Analysis

BTL analysis cannot be established. No sufficiently specific rental comparable or auctioneer rent estimate is supplied, and the property is a vacant retail building rather than evidenced residential accommodation. There is also no supported works or total-cost allowance.

Flip Analysis

A flip surplus cannot be calculated. Although nearby South Street sales range from £750,000 to £1,950,000, the evidence does not establish comparability with this former bank, and no works, selling costs or reliable GDV are available.

Investor Risks & Due Diligence

• Grade II Listed status may constrain alterations, repairs and changes of use.

• The building is vacant and no passing rent or sufficiently specific rental evidence is supplied.

• The supplied sales are not sufficiently detailed to confirm comparability or support a GDV.

• The property’s condition and refurbishment requirements are unknown.

• The £1,800 administration charge is known, but additional disbursements, search fees, seller costs, legal fees and transfer fees may become payable under the legal pack and special conditions.

• No EPC, heating or council-tax information is supplied.

Recommendation

Do not rely on the guide as a maximum bid. Consider only after reviewing the legal pack, obtaining a commercial valuation and condition survey, confirming Grade II Listed constraints and establishing the property’s viable future use, rent or resale value.

Strategy Rating

Analysis Confidence

The address, tenure, vacancy, accommodation description, guide, one known buyer charge and several nearby sales are supplied, but there is no floor area, condition report, EPC, rent evidence, planning/use information, full fee schedule or directly comparable valuation evidence.