73 Anstey Lane, Leicester, Leicestershire LE4 0FG

Description

A substantial two-bedroom detached freehold bungalow requiring renovation, set back from the road with driveway, garage, store and a mature rear garden. Accommodation includes an entrance hall, lounge, kitchen, large rear dining room, two double bedrooms and bathroom. A very large loft room is already accessed by stairs and may offer further accommodation potential subject to planning/building-regulation approval. The auctioneer specifically notes spray-foam roof insulation.

Location

Anstey Lane is in north Leicester, with access to local shops, schools, bus routes and road links toward Leicester city centre and the wider county. Detached bungalows with plots and parking can appeal to owner-occupiers as well as refurbishment investors.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Likely works include modernisation of kitchen and bathroom, decoration, flooring, electrical/heating checks, external maintenance and garden works. The spray-foam roof insulation requires specialist inspection because it can affect roof condition, surveyability and mortgageability. Allow approximately £40,000–£65,000 as an initial feasibility range before specialist roof findings and any loft conversion works.

Rental Analysis

For a refurbished two-bedroom detached bungalow, an HB/AI market-rent appraisal of approximately £1,150–£1,350 pcm is a starting assumption only and should be verified locally. That implies £13,800–£16,200 per annum. The property may be better suited to owner-occupier resale than pure yield depending on the final works cost and end value.

GDV / Resale Analysis

No sufficiently reliable sold comparables have been independently verified in this appraisal, so a GDV range is deliberately not stated as fact. Obtain same-area bungalow comparables, adjust for plot, garage, condition and any lawful loft accommodation, and confirm the impact of spray foam before adopting a resale value.

Properties Sold Within Approx. 5 Miles

No sufficiently specific recent sold comparables were independently verified during this appraisal. GDV should be confirmed against Land Registry/RICS comparable evidence before bidding.

Potential BRRR Position

Illustrative middle case only: purchase at £200,000 guide plus approximately £40,000–£65,000 refurbishment gives £240,000–£265,000 before acquisition/finance costs. A refinance case should only be modelled after independent comparable evidence establishes the post-works value; lender valuation, property condition and the spray-foam roof issue may materially affect mortgageability.

Flip Analysis

A refurbishment-and-resale strategy may be possible, but the margin cannot be assessed reliably without verified local sold comparables and a specialist assessment of the spray-foam roof insulation. Auction fees, SDLT, finance, holding, legal and selling costs must all be included before treating any uplift as profit.

Investor Risks & Due Diligence

• Obtain a specialist roof/spray-foam assessment before bidding.




• Commission a building survey and verify the full refurbishment scope.




• Confirm planning/building-regulation position for any loft accommodation.




• Check all auction charges and legal-pack disbursements.




• Verify end value with recent comparable bungalow sales before committing to a flip.

Recommendation

Preferred strategy: Refurbishment & Resale, with Buy-to-Let as a secondary option. The detached format, plot and loft potential are attractive, but the roof/spray-foam issue is a major due-diligence item that could affect finance and exit value.

Strategy Rating

Flip: ★★★★☆

BRRR: ★★★☆☆

Buy-to-Let: ★★★☆☆

Development: ★★★☆☆