55A Norwich Road, Horsham St. Faith, Norwich, Norfolk

Description

A freehold part block of five rooms with five bathrooms. Forming part of a former hotel. In need of modernisation. Conveniently located for the local amenities of Horsham St Faith. Vacant.

Accommodation

Five rooms and five bathrooms. There is no working kitchen.

Location

Horsham St Faith is a village in the county of Norfolk, approximately 8 miles south of Aylsham and approximately 5 miles north of Norwich. It offers a range of day-to-day amenities with access to Norwich and major road networks. Recreational amenities include local sports clubs and community activities within Horsham St Faith and nearby Spixworth, with a wider range of clubs, cinemas and shopping in Norwich.

Tenure / Property Information

Investment Analysis

The supplied comparables range from £320,000 to £972,612 but comprise detached, semi-detached, terraced and other property types, with no directly comparable former-hotel room block identified. The subject has five rooms, five bathrooms, no working kitchen and requires modernisation. No floor area, planning/use information or directly comparable sales are supplied, so a supported GDV cannot be established. The £80,000 guide is not a formal valuation and buyer fees, VAT and possible seller charges remain unknown.

Investment Snapshot

Strategy Recommendation

Treat as a high-diligence refurbishment opportunity only. Do not set a bid ceiling until planning/use, layout, condition, kitchen installation, compliance requirements, works costs and all auction charges are verified.

Works Required

Modernise the five-room, five-bathroom block and provide a working kitchen. The evidence does not define the extent of required building, mechanical, electrical, fire-safety, access, decoration or compliance works, so no reliable cost allowance can be given.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. There is no supported post-works GDV, refurbishment budget, achievable rent, finance cost or evidence that the block can be used as the intended letting product. Refinance proceeds and cash left in are therefore unsupported.

Buy-to-Let Analysis

A BTL assessment cannot be established. The only rental evidence is an advertised £1,075 pcm asking rent for a two-bedroom property, which is not directly applicable to this vacant five-room former-hotel block with no working kitchen. No supported rent, compliance position, layout suitability or total project cost is available.

Flip Analysis

A flip appraisal cannot be established because the sold comparables are materially different property types and no supported GDV, refurbishment allowance, selling allowance or total project cost is supplied. The guide price alone does not demonstrate a resale margin.

Investor Risks & Due Diligence

• The property is part of a former hotel and its lawful use, planning position and potential conversion or letting options are not supplied.

• There is no working kitchen, and the extent and cost of required modernisation are unknown.

• The five-room layout is not described as bedrooms or confirmed as suitable for the intended letting strategy.

• Buyer fees, VAT and possible seller charges are not quantified.

• No EPC, council tax, heating, parking or detailed building-condition information is supplied.

• The available sold comparables are not directly comparable to the subject property.

Recommendation

Treat as a high-diligence refurbishment opportunity only. Do not set a bid ceiling until planning/use, layout, condition, kitchen installation, compliance requirements, works costs and all auction charges are verified.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, accommodation, lack of working kitchen and modernisation need, but omits floor area, planning/use status, condition detail, works costs, EPC, services, parking, rent evidence directly applicable to the property and auction charges.