53 Parsons Road, Redditch, Worcestershire

Description

A two bedroomed detached house set in a secluded position benefitting from a large rear garden and leafy outlook. The property is in complete need of refurbishment with no fixtures and fittings and extends 36 m² or thereabouts.

Accommodation

Two-bedroom detached house extending 36 m² or thereabouts, with a large rear garden.

Location

Situated just off Parsons Road in Redditch, this property is positioned within an established residential area close to the town centre. The surrounding neighbourhood offers a predominantly residential setting, with a mix of traditional and mid-century homes. The property benefits from convenient access to a range of local amenities, including supermarkets, schools, healthcare facilities and everyday shops. Aldi is approximately half a mile away, while Redditch town centre provides a wider selection of shopping, dining and leisure facilities. Parsons Road also provides good access to the wider Redditch road network, making the location suitable for commuters travelling to Birmingham, Bromsgrove and surrounding areas. Local schools and public transport services are available within the surrounding area.

Investment Analysis

The only supplied sales evidence comprises two transactions for 39 Parsons Road at £110,000 and £129,000 in 2004. These historic sales are not sufficient to establish a current GDV for this property, particularly given the subject's reported complete need for refurbishment, absence of fixtures and fittings, approximate 36 m² size and different address. No current comparable sales, rental evidence or formal valuation is supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain current comparable sales, a full refurbishment survey and budget, legal/tenure information, and a resale or rental appraisal before considering the property.

Works Required

Complete refurbishment is required as stated in the particulars. Reinstatement of fixtures and fittings is also required. The evidence does not specify the condition of structural elements, services, kitchen, bathroom, windows, roof or heating, so no detailed scope or cost 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 supported without a current GDV, refurbishment budget, rent, finance costs and confirmation of the property's condition and legal/tenure details. The £50,000+ guide is not sufficient to establish a viable refinance outcome. The buyer premium is 1.2% subject to a £1,440 minimum, with possible additional special-condition fees.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property's complete refurbishment requirement and unknown operating condition further prevent a reliable yield assessment.

Flip Analysis

A flip appraisal cannot be completed reliably. The only supplied sales are historic 2004 transactions at £110,000 and £129,000, and no supported current GDV, refurbishment allowance or selling-cost allowance is available. The property is described as requiring complete refurbishment.

Investor Risks & Due Diligence

• Complete refurbishment is stated, but the scope and cost are unknown.

• No current comparable sales support a GDV.

• No sufficiently specific rental evidence supports rent or yield calculations.

• The floor area is stated as approximately 36 m² and may require verification.

• Tenure, occupancy, EPC, council tax, heating, parking and lease information are not supplied.

• The auction conditions allow additional fees to be listed in the Special Conditions of Sale.

• The minimum buyer premium of £1,440 applies at the £50,000 guide price.

Recommendation

Do not bid on the current evidence alone. Obtain current comparable sales, a full refurbishment survey and budget, legal/tenure information, and a resale or rental appraisal before considering the property.

Strategy Rating

Analysis Confidence

Evidence is limited to a guide price, a brief refurbishment description, approximate floor area, historic 2004 sales and no rental, EPC, tenure, occupancy, services or current valuation evidence.