83 & 83A High Street, Rhyl, Denbighshire

Description

The property comprises a three storey building arranged over ground, first and second floors. The shop benefits from a new suspended ceiling. The upper floors comprise a 3 bedroom flat which benefits from new wiring, plumbing and plastering throughout.

Accommodation

Ground floor shop with a three-bedroom flat over the first and second floors. The upper parts have new wiring, plumbing and plastering. Approximate areas have been provided by the VOA, vendor or EPC.

Location

Rhyl is a popular coastal resort town in North Wales. The property occupies a prominent corner pitch at the junction of High Street and Russell Street, at the edge of the pedestrianised pitch. Local occupiers include Greggs, Betfred and Santander.

Tenure / Property Information

Investment Analysis

The property is a freehold mixed-use building comprising a ground-floor shop and a three-bedroom flat above, offered with vacant possession. Supplied sold evidence shows 83 High Street at £104,000 in June 2024, 89 High Street at £89,000 and 85 High Street at £41,000, but the comparables are described only as “Other” and do not confirm identical accommodation, condition, floor area or whether they include the same residential element. The £104,000 sale may be relevant to the address but is recorded as 83 High Street rather than 83 & 83A. Consequently, a reliable GDV range cannot be established from the evidence alone. The £70,000 guide is below the supplied £104,000 sale, but this is not sufficient to confirm value or profitability.

Investment Snapshot

Strategy Recommendation

Proceed only subject to confirmation that the title and accommodation correspond to the supplied comparable evidence, plus a detailed inspection, completion-cost budget and independent rental/value assessment. Do not rely on the guide price or the £104,000 sale alone.

Works Required

Complete and finish the upper-floor three-bedroom flat following the stated new wiring, plumbing and plastering. Assess and complete associated decoration, fixtures, fittings and statutory or letting requirements. The ground-floor shop has a new suspended ceiling; no further defects or works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The property has apparent refurbishment progress, including new upper-floor wiring, plumbing and plastering, but no works budget, rent evidence or reliable GDV is supplied. Refinance at 75% of GDV and cash left in cannot be calculated. The strategy should not be underwritten without confirming the legal configuration of 83 and 83A, completion requirements and post-works value.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant, and no commercial rent, residential rent, operating costs, finance costs or buyer fees are provided. Yield therefore cannot be established.

Flip Analysis

A flip appraisal cannot be quantified because a supported GDV, refurbishment allowance, buyer costs and selling costs are unavailable. The supplied £104,000 sale at 83 High Street and nearby sales provide context only and do not establish a directly comparable resale value for the combined retail and residential opportunity.

Investor Risks & Due Diligence

• Insufficient evidence to establish market value or GDV for the combined 83 & 83A property.

• The £104,000 83 High Street comparable may not include the same building, accommodation or residential element.

• No rental evidence is available, preventing yield and refinance assessment.

• Upper-floor works are described as substantially progressed, but completion requirements and costs are not supplied.

• No buyer premium, administration charge, other fees, selling costs or finance costs are provided.

• Vacant possession creates letting and commercial occupancy risk after completion.

Recommendation

Proceed only subject to confirmation that the title and accommodation correspond to the supplied comparable evidence, plus a detailed inspection, completion-cost budget and independent rental/value assessment. Do not rely on the guide price or the £104,000 sale alone.

Strategy Rating

Analysis Confidence

The address, tenure, use, occupancy and some condition information are supplied, but there are no areas, EPC, rent evidence, buyer fees, refurbishment costs or clearly comparable mixed-use sales. The recorded 83 High Street sale may not represent the combined 83 & 83A property.