7 Cober House, Nicholas Holman Road, CAMBORNE, Cornwall

Description

Leasehold first floor flat with two bedrooms, reception room open plan to kitchen, and 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 include Camborne Train Station to the west and local bus services. Road links include the A30 to the north. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

The supplied completed sales are for the same development and show £115,000–£140,000, with the latest sale at £140,000 on 19 January 2024. A base GDV of £140,000 is supported, but the flat's exact comparable characteristics, lease length, service charge, ground rent and any lease-specific discount are unknown. A cautious evidence-based range is £120,000–£140,000.

Investment Snapshot

Strategy Recommendation

Do not bid until the lease, service charge, ground rent, remaining term and special conditions are confirmed. If those are satisfactory and no material costs emerge, the guide is below the supplied same-development sales evidence, but the investment case remains unverified.

Works Required

No physical defects or refurbishment requirements are evidenced. Before bidding, obtain and review the lease, service-charge information, ground-rent terms, lease length, parking and heating details, and the special conditions of sale.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £140,000 base GDV, 75% refinancing is £105,000. However, total project cost cannot be calculated because refurbishment, service-charge, ground-rent and any seller fees are unknown. The lease must be checked before relying on refinance value.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent and gross yield cannot be established. The unknown lease and service-charge liabilities are particularly important for assessing net BTL returns.

Flip Analysis

The guide is £100,000 and the known buyer administration fee is £1,800 including VAT, before any refurbishment, seller fees or other transaction costs. The same-development sales support a potential value up to £140,000, but the resale surplus cannot be calculated reliably without the lease terms, project costs and selling allowance.

Investor Risks & Due Diligence

• Lease length, annual service charge, ground rent and review terms are unknown.

• The seller may charge additional completion fees under the special conditions.

• No sufficiently specific rental comparable or auctioneer rent estimate is supplied.

• Parking and heating details are unknown.

• The supplied sales are for the same address/development but do not confirm identical flat characteristics or condition.

• No physical condition or refurbishment information is provided.

Recommendation

Do not bid until the lease, service charge, ground rent, remaining term and special conditions are confirmed. If those are satisfactory and no material costs emerge, the guide is below the supplied same-development sales evidence, but the investment case remains unverified.

Strategy Rating

Analysis Confidence

There are several completed sales at the same development, but the exact flat characteristics, lease terms, rental evidence, costs and physical condition are incomplete.