7 Meadowside Barnards Road, Worstead, North Walsham, Norfolk

Description

Older style three bedroom semi-detached property that has been let out for many years but is now sold vacant. The property benefits from oil-fired central heating and sealed unit double glazing; however, further updating, modernising and potential repair is required. The sellers have instructed a targeted report available within the legal pack. There is a front garden providing off-road parking, along with side and rear gardens which require attention.

Location

Worstead is an historic village with many fine buildings and lies approximately midway between the well-served towns of Wroxham and North Walsham, both of which offer many amenities and facilities.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are local semi-detached sales ranging from £145,000 to £188,000 between 2011 and 2019. They provide historical context only; there is no current-date adjustment, accommodation size, condition detail or formal valuation evidence. A current GDV cannot therefore be supported. The guide is £100,000–£120,000 plus fees, with a known £1,500 admin charge and potentially other completion fees.

Investment Snapshot

Strategy Recommendation

Treat as an investigation-led opportunity only. Review the targeted report, legal pack and Special Conditions, obtain a current valuation and costed works assessment, and bid only if the total project cost remains acceptable against independently supported value.

Works Required

Further updating and modernising, investigation and completion of any repairs identified by the targeted report, and attention to the side and rear gardens. The scope and cost cannot be quantified without the report and further inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is not supportable at present because refurbishment costs, current GDV, achievable rent and refinance value are unavailable. The local comparables are historic and do not establish a current post-works value. The targeted report and legal pack should be reviewed before considering a bid.

Buy-to-Let Analysis

BTL cannot be underwritten from the supplied evidence. There is no sufficiently specific rental comparable and no auctioneer rent estimate, so rent, gross yield and cash flow cannot be established. The property is vacant and requires updating or potential repair.

Flip Analysis

A flip surplus cannot be calculated. Although historic local semi-detached sales range from £145,000 to £188,000, they date from 2011–2019 and cannot establish current GDV. Works costs, selling costs and the full completion-cost position are also unavailable.

Investor Risks & Due Diligence

• The targeted report has been referenced but its findings are not supplied.

• Updating and potential repair requirements are not quantified.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Historic sold comparables may not represent current market value or the subject property's condition.

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

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

• The property is vacant, so no passing rent is evidenced.

Recommendation

Treat as an investigation-led opportunity only. Review the targeted report, legal pack and Special Conditions, obtain a current valuation and costed works assessment, and bid only if the total project cost remains acceptable against independently supported value.

Strategy Rating

Analysis Confidence

The evidence includes local historic sales and a guide range, but omits current valuation evidence, property size, targeted-report findings, refurbishment costs, rent, tenure and potentially payable completion fees.