8 Myers Close, Charlton, Banbury

Description

A two bedroom house, in need of modernisation, benefitting from a garden. Extension potential subject to requisite consents.

Accommodation

Ground Floor - Kitchen, Lounge/Diner, Utility Room. First Floor - Two Bedrooms, Bathroom/WC.

Location

Located on Myers Close, accessed off Green Lane. A range of shopping amenities are available in the centre of Banbury. The property is surrounded by a variety of recreational amenities including Charlton Receation Ground. Road links via the M40. Transport Banbury - National Rail. Kings Sutton - National Rail.

Tenure / Property Information

Investment Analysis

The supplied completed sales on Myers Close range from £400,000 to £460,000 in 2023, but all identified comparables are semi-detached and their bedroom count, size and condition are not provided. The subject is described only as a two-bedroom house requiring modernisation, so a reliable GDV or market value cannot be established from this evidence alone. The £160,000 guide excludes the buyer fee, VAT where applicable and potentially other seller charges.

Investment Snapshot

Strategy Recommendation

Do not proceed on the current evidence alone. Obtain the legal pack, inspect the property, verify the modernisation scope, obtain contractor costs and establish genuinely comparable two-bedroom house sales and rents before bidding.

Works Required

Modernisation of the property as identified by the auction description. The specific works, condition and costs require inspection and review of the legal pack; no unsupported repair items are assumed. Any extension would be subject to the requisite consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because GDV, refurbishment costs, rent and buyer or seller charges are unsupported. The supplied sales evidence is not sufficiently comparable to establish a refinance value.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Gross yield, operating returns and an appropriate bid level cannot therefore be established.

Flip Analysis

A flip appraisal cannot be completed reliably. Although nearby 2023 sales are reported at £400,000–£460,000, they are semi-detached properties with no supplied size, bedroom or condition detail, while the subject requires modernisation. Selling costs and project costs are also unknown.

Investor Risks & Due Diligence

• The modernisation scope and cost are unknown.

• The buyer fee, VAT treatment and any other seller charges are not stated.

• The supplied sold comparables are semi-detached and lack bedroom, size and condition details, limiting valuation reliability.

• No sufficiently specific rental evidence is available, so rental yield cannot be assessed.

• Any extension is subject to the requisite consents.

• EPC and other property information should be checked in the legal pack.

Recommendation

Do not proceed on the current evidence alone. Obtain the legal pack, inspect the property, verify the modernisation scope, obtain contractor costs and establish genuinely comparable two-bedroom house sales and rents before bidding.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, accommodation description and guide price, but lacks a reliable subject-specific valuation, condition schedule, refurbishment costs, rental evidence, EPC, charges and key property particulars such as size and parking.