56 Daniel Place, Penzance, Cornwall, TR18 4DU

Description

A two/three bedroom mid terraced property requiring refurbishment situated in the popular seaside town of Penzance. The property comprises of an open plan lounge/kitchen/diner, rear lobby and shower room to the ground floor, two first floor bedrooms and a loft room, with an enclosed courtyard garden.

Accommodation

Ground floor: entrance hall, open plan lounge/kitchen/diner, rear lobby and shower room. First floor: landing and two double bedrooms. Second floor: loft room/bedroom three. Enclosed courtyard garden.

Location

Daniel Place is situated just back from the Promenade and sea front, with residents on street parking and within a short walk to Morab Gardens and the thriving town centre of Penzance.

Tenure / Property Information

Investment Analysis

Five same-street completed sales range from £170,000 to £275,000. The subject requires refurbishment, but the condition, floor area and specification of the comparables are not supplied, so a precise market value is unsupported. A broad evidence-based scenario range of £170,000–£275,000 is used, with £227,500 as a midpoint base scenario rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat as a refurbishment-led resale opportunity only pending a full inspection, measured floor area, refurbishment quotation and confirmation of tenure and auction costs. Do not bid solely against the midpoint GDV.

Works Required

The description supports a general refurbishment of the two/three-bedroom terraced property. No specific defects, scope, specification or cost evidence is provided, so detailed works and a budget cannot be established.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be quantified because refurbishment costs, rent, tenure and finance costs are unavailable. A £227,500 GDV midpoint is only an evidence-based scenario from same-street sales and should not be treated as a formal valuation. The 75% refinance figure and cash-left-in calculation are therefore unsupported.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The known auction administration charge is 1.35% plus VAT, subject to a minimum of £1,800 plus VAT; at the £75,000 guide, the minimum charge would apply and equal £2,160 including VAT, before refurbishment and other costs.

Flip Analysis

A flip may be possible if the property can be refurbished economically, but no works budget, floor area, specification or selling-cost allowance is supplied. The broad same-street evidence range is £170,000–£275,000; a reliable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Refurbishment is required but no condition survey, scope or cost estimate is supplied.

• The subject's tenure and occupancy are not stated.

• No reliable rental evidence is available, preventing yield and BTL assessment.

• Comparable sale condition, size and specification are not supplied, making the GDV range broad.

• The minimum auction administration charge applies at the £75,000 guide and is £2,160 including VAT, before other costs.

Recommendation

Treat as a refurbishment-led resale opportunity only pending a full inspection, measured floor area, refurbishment quotation and confirmation of tenure and auction costs. Do not bid solely against the midpoint GDV.

Strategy Rating

Analysis Confidence

Same-street completed sales and the guide price are available, but refurbishment scope and cost, rent, tenure, occupancy, floor area, finance costs and selling costs are not supplied.