51 Belswains Lane, Hemel Hempstead, Hertfordshire, HP3 9PW

Description

A Vacant Mixed-Use Large Corner Building Offered With Planning Permission for a Two Storey Rear Extension to Convert the Property into Four Self Contained Flats (2 x One Bedroom, 2 x Two Bedroom).

Accommodation

Ground Floor: Commercial Area, Kitchen, Three Rooms. First Floor: Three Rooms, Bathroom. Detached Outbuilding: Commercial Area/Storage.

Location

The property is situated in the desirable Apsley area of Hemel Hempstead on a residential road close to local shops and amenities. The open spaces of Heath Park are within easy reach. Transport links are provided by Apsley rail station.

Tenure / Property Information

Investment Analysis

The £415,000+ guide is supported only as the auction guide, not as market value. The supplied sold comparables are detached houses or an 'Other' property and are not sufficiently comparable to this vacant mixed-use building with planning permission for conversion into four flats. No supported GDV, refurbishment budget or resale evidence is available. The £1,800 inc VAT admin charge is known; further disbursements and other purchaser costs are unspecified.

Investment Snapshot

Strategy Recommendation

Do not set a bid or commit to a strategy from the supplied evidence alone. Review the planning and legal packs, obtain a full conversion-costed appraisal and establish flat-level GDV and rental evidence before bidding.

Works Required

Use the supplied planning permission for a two-storey rear extension and conversion into four self-contained flats: two one-bedroom and two two-bedroom units. The description also identifies existing commercial areas, rooms, a kitchen, bathroom and detached commercial/storage outbuilding, but provides insufficient detail to quantify alteration, services, compliance or finish costs.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a supported post-works GDV, detailed refurbishment/conversion budget and rental evidence. The known entry point is £415,000+ plus the £1,800 admin charge and potentially further purchaser costs.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate were supplied. Four-flat rental income, operating costs, finance costs and compliance costs are therefore unquantified.

Flip Analysis

A flip surplus cannot be calculated. The available sold comparables are not sufficiently comparable, while conversion and extension costs, professional costs, finance, selling costs and a supported post-works GDV are absent.

Investor Risks & Due Diligence

• The supplied sold comparables are not sufficiently comparable to the proposed four-flat mixed-use conversion.

• Conversion and two-storey extension costs are entirely unquantified.

• No supported resale GDV or flat-specific rental evidence is available.

• Further disbursements, search fees, seller-cost reimbursements, legal fees and transfer fees may be payable.

• Planning permission is stated but the supplied evidence does not confirm its conditions, implementation status or building-regulations position.

• The property is vacant and includes existing commercial areas and an outbuilding, creating potential conversion and compliance uncertainty.

Recommendation

Do not set a bid or commit to a strategy from the supplied evidence alone. Review the planning and legal packs, obtain a full conversion-costed appraisal and establish flat-level GDV and rental evidence before bidding.

Strategy Rating

Analysis Confidence

The guide, tenure, vacancy, accommodation, planning description and admin charge are supplied, but there is no usable GDV evidence, works budget, rental evidence, EPC, detailed planning information or complete fee schedule.