7 Providence Place, Ravensmere, Beccles, Suffolk NR34 9DJ

Description

Three bedroom terrace house in need of refurbishment throughout and situated in the centre of Beccles Charming mid terraced house situated in the centre of the Suffolk market town of Beccles. This family home has been occupied for over 60 years by the owner and is sadly now offered as probate sale. In need of full refurbishment throughout this would make an ideal project for a keen investor/builder. Offering typical two reception rooms, kitchen, inner hall bathroom and rear porch on the ground floor whilst the first floor has been adapted providing three bedrooms. I am informed the attic space is generous and could be converted (stpp).

Location

7 Providence Place, Ravensmere, Beccles, Suffolk NR34 9DJ. Located in the NR34 postcode district. Verify exact position, access, local demand and comparable evidence before bidding.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Development. Set the maximum bid only after reviewing condition, legal pack, finance, rents and sold evidence.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, decoration and any structural, roofing, damp, kitchen, bathroom, external or development works identified.

Rental & Market Context

HB rental/value figures are indicative appraisal estimates and should be checked against current local letting and sold evidence.

Sold within approximately 5 miles

Check recent Land Registry transactions and closely matched local comparables for property type, size, tenure and condition.

Potential BRRR Position

Refinance potential depends on the completed condition, lender valuation, tenure and rental stress testing; development/commercial assets require specialist lender criteria.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the full legal pack and special conditions

• Verify tenure, occupancy, planning and title restrictions

• Inspect condition and obtain contractor quotations

• Confirm finance and insurance availability

• Verify rents and recent sold comparables

• Allow for buyer premium, administration charges and disbursements

Recommendation

Proceed only where verified total project cost supports the intended development strategy with adequate contingency.

Strategy Rating

Development: ★★★★☆ | Resale: ★★★★☆ | Buy-to-Let: ★★☆☆☆