7 St. Johns Place, Torquay, Devon, TQ1 1BH

Description

A two storey, two bedroom end of terrace house, situated in a popular residential area of Torquay. The property comprises of an open plan lounge/kitchen/diner to the ground floor, with two bedrooms and a bathroom to the first floor and an elevated rear garden area. Offering the potential for further improvement and likely to be of interest to both owner occupiers and the residential lettings fraternity.

Accommodation

Ground Floor: Entrance hall, open plan lounge/kitchen/diner. First Floor: Landing, master bedroom giving access to the rear garden, bedroom two and bathroom.

Location

Situated in St Johns Place, readily accessible to Torquay town centre, local shops and schools, with public transport links and in proximity of the seafront.

Tenure / Property Information

Investment Analysis

The supplied sold evidence includes the same address at £120,000 and £130,000 in 2004, £47,000 in 2000, and a nearby number 1 at £145,000 in 2011. These completed sales are historic and no current comparable or formal valuation is supplied, so a current GDV cannot be supported. At the £95,000 guide, the stated buyer/admin charge calculates to £2,160 including VAT because the minimum fee applies; this excludes any possible seller legal fees and refurbishment costs.

Investment Snapshot

Strategy Recommendation

Do not set a bid or pursue a defined BTL, BRRR or flip strategy until the legal pack, current market evidence, inspection, EPC implications, rent evidence and full cost schedule have been verified.

Works Required

Further improvement is identified in the description, but no specific defects or works are evidenced. The EPC is F, so energy-performance improvement should be assessed. A survey, inspection and legal-pack review are required before defining a works scope or budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because current GDV, refurbishment cost, rent and refinance value are unsupported. At the £95,000 guide, the stated minimum buyer/admin charge is £2,160 including VAT, before works and any additional legal-pack charges.

Buy-to-Let Analysis

BTL suitability is suggested by the description, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent, yield, operating costs and investment returns therefore cannot be established. The EPC F rating may also require attention.

Flip Analysis

A flip assessment cannot be quantified. Historic sold comparables provide context but do not support a current GDV, while no refurbishment budget or selling-cost allowance is supplied. The property is described as offering potential for further improvement, but the scope is unknown.

Investor Risks & Due Diligence

• EPC rating F and unspecified improvement requirements.

• No sufficiently specific rental evidence or passing rent is supplied.

• Historic sales evidence may not represent current market value.

• Tenure, occupancy and lease information are not supplied.

• Condition, refurbishment scope and costs are unknown.

• The stated buyer/admin charge is subject to a £2,160 minimum including VAT at the guide price, and additional seller legal fees may arise from the legal pack.

• Parking and heating information are not supplied.

Recommendation

Do not set a bid or pursue a defined BTL, BRRR or flip strategy until the legal pack, current market evidence, inspection, EPC implications, rent evidence and full cost schedule have been verified.

Strategy Rating

Analysis Confidence

The property description and historic completed sales are supplied, but current GDV evidence, rental evidence, condition detail, tenure, occupancy, lease information, works costs and selling costs are absent.