6 Council Houses, Stow Road, Ixworth, Bury St. Edmunds, Suffolk

Description

Vacant freehold semi-detached Grade II listed house by order of a housing association. The property is subject to a service charge. The Vendor will not accept offers prior to auction.

Accommodation

Ground floor: reception room, kitchen and wet room. First floor: three bedrooms. Garden and outside WC. GIA approximately 83.98 sq m (904 sq ft).

Location

Located on the north east side of Stow Road. Shops and amenities are located along High Street to the north west. Thurston rail station is approximately 4 miles to the south west. The A143 is to the east. Mickle Mere Nature Reserve is to the south.

Tenure / Property Information

Investment Analysis

The only supplied sales evidence is for two semi-detached freehold properties on Stow Road: £235,000 in May 2017 and £365,000 in September 2015. These transactions are historic, contain no accommodation or condition details, and do not establish a current value for this 83.98 sq m Grade II listed house. A defensible GDV, refurbishment budget or maximum bid cannot therefore be calculated from the evidence provided. The £195,000+ guide is not a valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain a listed-building survey, current valuation, service-charge information, auction legal pack and complete fee schedule before considering owner-occupier or investment purchase.

Works Required

No specific defects or required works are evidenced. Obtain a full survey and investigate the implications of the Grade II listing before budgeting any works. Confirm whether any proposed alterations, including to the existing accommodation, would require listed-building consent. Review the service-charge liability and seller or third-party charges.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable without a current GDV, confirmed works budget, rent, service-charge details and purchase costs. The Grade II listed status may affect the scope and approval process for works, but no specific restriction or defect is evidenced.

Buy-to-Let Analysis

BTL performance cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Buyer premium, admin charges and the service charge are also unquantified, so total acquisition and operating costs cannot be calculated.

Flip Analysis

A flip surplus cannot be calculated. The two supplied sold comparables are historic and lack size, condition and specification details; no supported resale allowance or project-cost figure is available.

Investor Risks & Due Diligence

• Grade II listed status may constrain or require consent for alterations.

• The property is subject to a service charge, but the amount and terms are not supplied.

• Additional seller or third-party charges may apply and are unquantified.

• The property is vacant and no condition or survey information is supplied.

• No sufficiently specific rental evidence is available.

• The historic comparable sales do not establish current market value.

Recommendation

Do not bid on the current evidence alone. Obtain a listed-building survey, current valuation, service-charge information, auction legal pack and complete fee schedule before considering owner-occupier or investment purchase.

Strategy Rating

Analysis Confidence

Evidence includes the property description, guide price, tenure and two historic sales, but lacks current comparable evidence, condition, rent, EPC, council tax, service-charge amount, buyer fees and legal-pack details.