52 and 52A Mutley Plain, Plymouth, Devon

Description

A freehold mixed-use investment opportunity comprising three fully let ground-floor retail units and eight en-suite student rooms on the upper floors. Includes a small let basement area and off-street parking to the rear. Asset management potential to let the spare student room.

Accommodation

Three ground-floor retail units, eight en-suite student rooms on the upper floors, a small basement area and off-street parking to the rear. Refer to the tenancy/accommodation schedule.

Location

The property is located in the busy secondary retailing area of Mutley Plain, approximately half a mile from Plymouth City Centre, on the western side of Mutley Plain in a prominent position. Nearby retailers include Tesco, Superdrug, Boots the Chemist, Costa Coffee, Starbucks, Sainsbury’s and the Co-op.

Tenure / Property Information

Investment Analysis

The property is a freehold mixed-use investment comprising three let retail units, eight en-suite student rooms, a small let basement area and rear parking. The only supplied income evidence is the auctioneer's estimated fully let ERV of £84,610 per annum; this is not passing rent. The guide price of £575,000 implies approximately 14.71% gross yield against that ERV before fees and operating costs. The supplied sold comparables are limited, varied in type, historic and do not provide a reliable GDV for this larger mixed-use asset. No supported market value or GDV can therefore be established.

Investment Snapshot

Strategy Recommendation

Prioritise income-led mixed-use investment underwriting rather than a flip. Only proceed after verifying the tenancy/accommodation schedule, passing rents, lease terms, vacant-room letting prospects, buyer and seller charges, VAT position and full special conditions.

Works Required

No physical refurbishment works are evidenced. The identified asset-management opportunity is to let the vacant student room, subject to reviewing its condition, compliance and tenancy requirements. The tenancy and accommodation schedule should be verified before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no supported GDV, refurbishment budget, buyer fee, tenancy schedule, lease terms or finance assumptions are supplied. The estimated ERV may support income-based underwriting, but refinance proceeds cannot be calculated without an evidence-supported valuation or GDV.

Buy-to-Let Analysis

Using the auctioneer's fully let ERV of £84,610 per annum and the £575,000 guide, the headline gross yield is approximately 14.71%. This is based on estimated ERV rather than verified passing rents and excludes the unspecified buyer fee, possible VAT, seller charges, finance, management, maintenance, voids and other operating costs. Net yield and reliable cash flow cannot be established from the supplied evidence.

Flip Analysis

A flip analysis is not supported. The property is described as partly let and income-producing, but no supported resale GDV, refurbishment cost or selling-cost allowance is available. The supplied comparables are insufficiently similar and too limited to establish a resale value.

Investor Risks & Due Diligence

• The £84,610 annual figure is an auctioneer fully let ERV and not confirmed passing rent.

• One student room is vacant, creating letting and potential void risk.

• Tenancy, accommodation and lease details are not supplied, so income security and expiry exposure cannot be assessed.

• The buyer fee is unspecified and VAT or seller charges may apply.

• No EPC, condition, compliance, operating-cost or management information is supplied.

• The supplied sold comparables are limited, varied in type and historic, so they do not establish a reliable market value for this asset.

Recommendation

Prioritise income-led mixed-use investment underwriting rather than a flip. Only proceed after verifying the tenancy/accommodation schedule, passing rents, lease terms, vacant-room letting prospects, buyer and seller charges, VAT position and full special conditions.

Strategy Rating

Analysis Confidence

The asset description, tenure, occupancy summary, guide price and auctioneer ERV are supplied, but there is no tenancy schedule, passing-rent breakdown, lease information, buyer fee, operating-cost data, condition evidence or reliable comparable valuation evidence.