8 Thornford Gardens, Southend-on-Sea, Essex, SS2 6PU

Description

This Freehold detached bungalow requires modernisation / upgrading throughout. Located on a corner plot within easy access of Southend Airport and Priory Park the property has two bedrooms, two reception rooms and a conservatory. Currently vacant the property would suit both owner occupiers and investors alike.

Accommodation

Entrance Hall; Lounge: 16'4 max x 14' into bay; Kitchen: irregular shape - open access to Conservatory: 11'4 max x 7'8 - access to garden, further access to 2nd Reception Room: 13' to fitted cupboards x 8'3 - access to garden; Bedroom One: 16'5 max x 11'10 - door to bathroom / wc; Bedroom Two: 13'1 max a 9' with built-in cupboard; Bathroom /Wc - access is via both the entrance hall and bedroom one. Externally: Corner Plot with Wrap-Around Garden.

Location

Located on a corner plot within easy access of Southend Airport and Priory Park.

Tenure / Property Information

Investment Analysis

The only supplied completed comparable is 27 Thornford Gardens, a detached freehold property sold for £380,000 in November 2020. It is on the same street, but the sale is dated and no comparable condition, size or bedroom information is supplied. The subject requires modernisation/upgrading throughout, and the evidence inconsistently describes it as both three bedrooms and two bedrooms. A current GDV or supported valuation range cannot therefore be established.

Investment Snapshot

Strategy Recommendation

Do not proceed on the supplied evidence alone. Obtain a current valuation, detailed refurbishment quotation, full auction fee schedule and local rental evidence before considering owner-occupier, BTL, BRRR or flip use.

Works Required

Modernisation and upgrading throughout, limited to works supported by the description. No detailed schedule, specification or cost evidence has been supplied.

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 assumptions are unsupported. The dated £380,000 same-street sale provides context only and should not be treated as a current valuation.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent, gross yield and BTL viability cannot be established. Buyer fees are also unspecified beyond the statement that fees apply.

Flip Analysis

A flip surplus cannot be calculated. The only relevant completed sale is from 2020, while the subject requires modernisation and no supported refurbishment or selling-cost allowance is supplied.

Investor Risks & Due Diligence

• The property requires modernisation/upgrading throughout, but no detailed works schedule or cost estimate is supplied.

• The only supplied comparable sold in November 2020 and may not represent current market value.

• The evidence inconsistently states three bedrooms in the property summary and two bedrooms in the description.

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

• The guide price is stated as £235,000 plus fees, but the buyer/admin fee amounts are not provided.

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

Recommendation

Do not proceed on the supplied evidence alone. Obtain a current valuation, detailed refurbishment quotation, full auction fee schedule and local rental evidence before considering owner-occupier, BTL, BRRR or flip use.

Strategy Rating

Analysis Confidence

Evidence is limited to one dated same-street sale, an unspecified modernisation requirement, no rental evidence, no EPC or property operating details, and unspecified auction fees. The bedroom count is also inconsistent.