9 Bigstone Grove, Tutshill, Chepstow

Description

A freehold detached bungalow situated in a quiet cul-de-sac, occupying a mature plot in Tutshill within walking distance of Chepstow Town Centre. The property offers 1,323 sq ft of accommodation, mature gardens, tandem off-street parking and a garage. Cosmetic updating is required. There may be potential for further accommodation in the large boarded-out attic space, subject to consent. Two lintels on the rear elevation will need attention.

Accommodation

Bright and airy L-shaped reception space with separate conservatory and kitchen, 3 bedrooms, WC and family bathroom.

Location

Tutshill is on the outskirts of Chepstow, with shopping facilities, supermarkets, leisure centre, bars and restaurants nearby. The immediate area offers footpaths along the Wye Valley, including the Offa's Dyke footpath. The property is approximately 3 miles from Junction 2 of the M48 Motorway and within commuting distance of Bristol, Cardiff and Newport.

Tenure / Property Information

Investment Analysis

Sold comparables on Bigstone Grove range from £280,000 to £395,000. The most recent evidence is £395,000 in September 2024, while another three-bedroom detached sale was £295,000 in June 2023. Given the subject's 1,323 sq ft size, detached freehold status and stated cosmetic updating/lintel requirements, an evidence-based scenario range is £295,000 to £395,000, with £345,000 used as the base GDV. This is an estimate rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat as a potential owner-occupier/value-add purchase rather than an underwritten flip or BRRR project. Proceed only after confirming the lintel remedy, obtaining a refurbishment quotation and checking the attic's consent requirements.

Works Required

Cosmetic updating is required. Address the two rear-elevation lintels. The boarded-out attic should only be considered for further accommodation after confirming feasibility and obtaining any necessary consent. No costed scope is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £260,000 guide, the supplied buyer premium adds £1,800, before any works or other costs. A 75% refinance against the £345,000 base GDV would be £258,750, but cash left in cannot be calculated because no supported refurbishment cost or complete project-cost allowance is provided. BRRR viability therefore remains unproven.

Buy-to-Let Analysis

The supplied advertised asking rent is £1,200 pcm, equivalent to £14,400 annually. Against the £260,000 guide, this indicates a gross yield of approximately 5.54% before refurbishment, finance, tax, insurance, maintenance, voids and acquisition costs. The listing is asking-rent evidence only, and the absence of a refurbishment budget prevents a reliable net-return or total-cost yield assessment.

Flip Analysis

The base GDV estimate is £345,000, based on the supplied Bigstone Grove sales. A flip surplus cannot be calculated because no supported refurbishment cost, selling allowance or complete transaction-cost allowance is supplied. The two lintels, cosmetic updating and any attic works require due diligence before considering resale.

Investor Risks & Due Diligence

• Two rear-elevation lintels require attention, with no supplied scope or cost.

• Cosmetic updating is required, but no refurbishment budget is available.

• Further attic accommodation is only potential and is subject to consent.

• EPC rating is E.

• The £1,200 pcm figure is an advertised asking rent rather than an achieved passing rent.

• The £1,800 buyer premium is payable on exchange, and the auction requires a £6,800 security deposit with the balance transferred within 24 hours if successful.

• Comparable sold prices range materially from £280,000 to £395,000, creating valuation uncertainty.

Recommendation

Treat as a potential owner-occupier/value-add purchase rather than an underwritten flip or BRRR project. Proceed only after confirming the lintel remedy, obtaining a refurbishment quotation and checking the attic's consent requirements.

Strategy Rating

Analysis Confidence

There are several directly comparable completed sales on the same road and one advertised rental listing, but no costed works schedule, achieved rent, full acquisition-cost schedule, survey or formal valuation.