6 Blenheim Crescent, Tittleshall, King's Lynn, Norfolk, PE32 2PG

Description

Older style three bedroom semi detached house that has been let out for many years and is now sold vacant. The property benefits from oil fired central heating but further updating and modernising is now required. The sellers have instructed a targeted report on the property that will be available within the legal pack.

Accommodation

Three bedrooms. Garden to the front providing off-road parking, along with a good-sized garden to the rear.

Location

Tittleshall is a small village which lies almost centrally between the well served market towns of Dereham, Swaffham and Fakenham.

Tenure / Property Information

Investment Analysis

Recent same-street semi-detached sales provide evidence from £187,000 to £267,500: £260,000 in August 2024, £267,500 in March 2023 and £187,000 for the same No. 10 address in March 2023. A base GDV of £260,000 is used, but the evidence does not confirm the subject property's size, condition, tenure or comparability. The targeted report and legal pack may materially affect value and works requirements.

Investment Snapshot

Strategy Recommendation

Treat as a conditional refurbishment and potential resale or refinance opportunity only after reviewing the targeted report and Special Conditions of Sale. Do not set a firm bid without verified works costs, tenure/legal information, rental evidence and all auction charges.

Works Required

Further updating and modernising is required, but the available evidence does not define the scope or cost. Review the targeted report and legal pack, and assess the oil-fired central heating, general condition, services and presentation before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV estimate of £260,000, a 75% refinance would be approximately £195,000. However, refurbishment costs, total acquisition costs, rental income, finance costs and legal-pack issues are unknown, so cash left in and equity cannot be calculated reliably.

Buy-to-Let Analysis

The property is vacant and has previously been let, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Rent, gross yield and sustainable BTL returns cannot therefore be established. Further updating and unknown auction costs also prevent a reliable total-cost assessment.

Flip Analysis

The comparable evidence indicates a potential resale value around £260,000, with an evidence range of £187,000 to £267,500. A flip surplus cannot be calculated because refurbishment costs, completion costs, selling costs and any other special-condition fees are not supplied.

Investor Risks & Due Diligence

• Targeted property report and legal-pack findings are not yet available.

• The scope and cost of the required updating and modernisation are unknown.

• No sufficiently specific rental evidence is supplied, preventing reliable yield analysis.

• Tenure and lease information for the subject property are not supplied.

• Other completion fees may apply under the Special Conditions of Sale.

• Comparable sales show a wide price range and may differ in size or condition from the subject property.

Recommendation

Treat as a conditional refurbishment and potential resale or refinance opportunity only after reviewing the targeted report and Special Conditions of Sale. Do not set a firm bid without verified works costs, tenure/legal information, rental evidence and all auction charges.

Strategy Rating

Analysis Confidence

There are several relevant same-street completed sales and a stated vacancy/modernisation requirement, but the subject's tenure, size, condition details, rental evidence, refurbishment cost, EPC and full auction charges are unavailable.