82 Normandy Street, Alton, Hampshire

Description

A substantial detached property arranged over three storeys, previously used as a six bedroom care home. In need of modernisation. Externally, the property benefits from a large rear garden. Extension/development potential subject to requisite consents. Vacant.

Accommodation

Arranged over three storeys; previously used as a six bedroom care home.

Location

Located on Normandy Street, close to the turning for Paper Mill Lane. Local shops and everyday services are available within Handsworth, with further facilities accessible in Birmingham city centre and surrounding districts. Recreational amenities include green spaces and parks such as the Alton Public Gardens. Transport: Alton - South Western Railway.

Tenure / Property Information

Investment Analysis

The guide is £525,000. Supplied Land Registry evidence shows £500,000 for 90 Normandy Street in 2019 and £475,000 for 86 Normandy Street in 2009, both semi-detached freeholds. The subject is described as detached, has previously operated as a six-bedroom care home and requires modernisation, so the comparables are not sufficiently current or directly comparable to support a reliable GDV. The supplied location narrative also references Handsworth, Birmingham, despite the stated Alton, Hampshire address, requiring verification.

Investment Snapshot

Strategy Recommendation

Do not proceed on the supplied evidence alone. First verify the address and planning/use history, inspect the property, obtain a refurbishment budget, establish current comparable values and obtain rental evidence before considering purchase.

Works Required

Modernisation of the vacant property, with the exact scope, specification and costs to be confirmed by detailed inspection. Any extension or development would require 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 without a supported post-works GDV, refurbishment budget, achievable rent and known acquisition costs. The unknown buyer fee, possible VAT and seller charges further prevent a reliable total-cost calculation.

Buy-to-Let Analysis

BTL performance cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The former care-home use may also require confirmation of the appropriate residential use and any relevant compliance requirements.

Flip Analysis

A flip surplus cannot be calculated. The only sales evidence is historic and relates to semi-detached properties, while the subject is described as detached and requires modernisation. No supported selling-cost allowance or current resale evidence is supplied.

Investor Risks & Due Diligence

• Historic comparables are semi-detached rather than the described detached subject.

• The property was previously used as a six-bedroom care home; current lawful use and any compliance implications are unconfirmed.

• Modernisation requirements and costs are unspecified.

• No sufficiently specific rental evidence is available.

• Buyer premium amount is unknown; VAT may apply and seller charges may be stated in the Special Conditions of Sale.

• Extension or development potential is subject to requisite consents.

• The supplied address and location narrative contain an apparent Alton/Hampshire versus Handsworth/Birmingham inconsistency.

Recommendation

Do not proceed on the supplied evidence alone. First verify the address and planning/use history, inspect the property, obtain a refurbishment budget, establish current comparable values and obtain rental evidence before considering purchase.

Strategy Rating

Analysis Confidence

Evidence is limited to two historic, non-identical sales, with no rental evidence, no refurbishment budget, no current valuation evidence and unknown buyer or seller charges. The supplied location description is also internally inconsistent.