7 Cober House, Nicholas Holman Road, Camborne, Cornwall, TR14 8GH

Description

Leasehold first floor flat. Two bedrooms, reception room open plan to kitchen, bathroom/wc.

Accommodation

Two bedrooms, reception room open plan to kitchen, bathroom/wc

Location

Cober House is located on Nicholas Holman Road. Shopping amenities can be found within Camborne Town Centre, with a further range of shops, bars and restaurants in Newquay to the north east. Public transport links can be found at Camborne Train Station to the west, along with local bus services. The property is served by road links including the A30 to the north. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

Five completed sales at the same address range from £115,000 to £140,000, with the most recent supplied sale at £140,000 in January 2024. A cautious evidence-based scenario range is £120,000–£140,000, with £140,000 as the base GDV based on the latest comparable. The £90,000 guide is approximately 35.7% below the latest comparable, before the £1,800 buyer documentation fee. Unit-specific condition, lease length and lease costs are unknown, so this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally after reviewing the lease, service charge, ground rent, lease length, special conditions and property condition. The guide appears attractive against the supplied same-address sales, but the missing lease and cost information prevents a firm BTL, BRRR or flip recommendation.

Works Required

No refurbishment works are evidenced in the supplied information. Verify condition, kitchen and bathroom specification, decoration, heating, parking and any communal or building works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £90,000 guide, the latest same-address comparable indicates potential value uplift, and 75% of the £140,000 base GDV is £105,000. However, total project cost and cash required cannot be calculated because refurbishment, lease costs, service charge, ground rent and any seller fees are unknown. Lease information must be confirmed before relying on refinancing.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate has been supplied. Service charge, ground rent, lease length and any letting restrictions are also unknown.

Flip Analysis

The supplied same-address sales support a £120,000–£140,000 evidence range, but no refurbishment allowance, selling costs or complete lease information is available. A reliable flip surplus therefore cannot be calculated. The latest comparable may not be directly comparable to this particular flat.

Investor Risks & Due Diligence

• Lease length is unknown and may affect mortgageability, resale value and refinance availability.

• Annual service charge, ground rent and ground-rent review terms are unknown.

• No rental evidence or passing rent is supplied, so income yield cannot be assessed.

• Property condition, heating and parking information is incomplete.

• Additional seller fees may be payable under the special conditions and are not quantified.

• The same-address sold comparables may differ in unit, condition, lease terms or specification.

Recommendation

Proceed only conditionally after reviewing the lease, service charge, ground rent, lease length, special conditions and property condition. The guide appears attractive against the supplied same-address sales, but the missing lease and cost information prevents a firm BTL, BRRR or flip recommendation.

Strategy Rating

Analysis Confidence

Completed sales and the guide price are supplied, but the comparable units are not individually identified and critical lease, condition, rental and cost information is missing.