60 Polden Street, Bridgwater, Somerset TA6 5EW

Description

The property has 4 letting rooms, 2 of which are en-suite, and 2 further bedrooms share a communal bathroom. There is a kitchen, dining area and a covered store with a rear garden beyond. The property is presented in good order. The seller has advised that a new roof was fitted in 2019, double glazing was installed, and a full internal refurbishment was carried out in 2019. The exterior was decorated in 2026. Furniture is included in the sale. The property operates under permitted development use as a C4 HMO, with no Article 4 restriction in the area.

Accommodation

Ground floor: entrance hallway, dining area, kitchen, 2 bedrooms and covered outside area. First floor: 2 bedrooms with en-suite shower rooms and a further shower room.

Location

Bridgwater town centre is benefiting from a £23 million Town Deal regeneration programme, including the new Celebration Mile pedestrian and cycle route and the redevelopment of Bridgwater Docks into a residential and leisure marina quarter.

Investment Analysis

The five supplied sold comparables on Polden Street range from £165,000 to £185,000, with a simple average of £172,400. They are terraced properties, although bedroom count, condition and HMO status are not supplied, so the evidence supports an indicative rather than formal GDV. A low/base/high scenario of £165,000/£172,400/£185,000 is used.

Investment Snapshot

Strategy Recommendation

Potential HMO BTL hold, subject to verification of the achieved rent, HMO documentation and all auction special conditions. The guide-price gross yield is attractive on the limited evidence, but the missing operating and project-cost data prevents a reliable maximum bid or full-return assessment.

Works Required

No specific refurbishment works are identified: the property is described as being in good order, with a seller-advised 2019 roof, double glazing and full internal refurbishment, plus exterior decoration in 2026. Allowances for repairs, compliance works, furnishing replacement or maintenance cannot be estimated from the evidence supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the comparable-sales average as base GDV gives an indicative 75% refinance figure of £129,300. The guide plus the known £2,340 buyer fee is £147,340 before works and any other applicable fees, but total project cost and cash left in cannot be calculated because refurbishment, finance, tax and potential special-condition costs are unsupported. The refinance therefore would not fully recover the guide price plus known buyer fee on the base GDV alone.

Buy-to-Let Analysis

At the £145,000 guide, the single supplied advertised asking rent of £850 pcm implies annual gross rent of £10,200 and a gross yield of approximately 7.03% before finance, operating costs, voids, tax and compliance costs. The rent is an asking figure rather than achieved or evidenced passing rent. The property operates as a C4 HMO with four letting rooms, but HMO documentation, operating costs and any licensing details are not supplied.

Flip Analysis

The comparable evidence supports a base resale value of approximately £172,400, with a supplied range of £165,000 to £185,000. A flip surplus cannot be reliably calculated because refurbishment, selling, finance, tax and other project costs are not provided. The property is described as already refurbished and in good order, but this is seller-advised information rather than an independently verified condition assessment.

Investor Risks & Due Diligence

• The £850 pcm figure is an advertised asking rent, not an achieved or confirmed passing rent.

• Tenure, occupancy and lease information are not supplied.

• HMO licensing, compliance documentation and operating costs are not supplied, despite the stated C4 use.

• Additional fees may be listed in the Special Conditions of Sale and are not quantified.

• The condition, 2019 refurbishment and 2026 exterior decoration are based on seller advice and have not been independently evidenced.

• The sold comparables do not provide bedroom count, condition or HMO-use details, limiting the precision of the GDV estimate.

Recommendation

Potential HMO BTL hold, subject to verification of the achieved rent, HMO documentation and all auction special conditions. The guide-price gross yield is attractive on the limited evidence, but the missing operating and project-cost data prevents a reliable maximum bid or full-return assessment.

Strategy Rating

Analysis Confidence

There is useful comparable-sale evidence, one rental asking figure and a known buyer fee, but tenure, occupancy, EPC, operating costs, achieved rent, HMO documentation, refurbishment costs and potential additional fees are not supplied.