92 St. James Park Road, Margate

Description

A Semi-Detached Bungalow requiring modernisation.

Accommodation

Entrance Porch; Entrance Hall; Living Room; Kitchen; Bedroom (One); Bedroom (Two); Bathroom/WC; Conservatory.

Location

Situated off Canterbury Road, close to the amenities available in Margate Town Centre and travelling facilities including Westgate-on-Sea and Margate Train Stations. St. Mildred’s Bay Beach is also nearby.

Tenure / Property Information

Investment Analysis

Five supplied same-road freehold semi-detached sales range from £266,000 to £330,000, with an average of approximately £300,200. A base GDV of £300,000 is used as an indicative estimate only. The comparables are not confirmed as bungalows, and no floor areas, condition details or specification are supplied.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led BTL, subject to a full survey, confirmed modernisation budget and legal review of any seller fees. Do not rely on the apparent guide-price yield or set a maximum bid until total costs are known.

Works Required

Survey-led modernisation of the bungalow. The evidence confirms that modernisation is required but does not identify the affected elements or provide a reliable works budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £300,000 base GDV, a 75% refinance would be approximately £225,000. The amount of cash that could be recovered cannot be assessed because the modernisation cost, total acquisition cost and possible seller fees are not supplied. The GDV evidence is also based on same-road semi-detached sales rather than confirmed bungalow comparables.

Buy-to-Let Analysis

The supplied rental listing indicates an advertised asking rent of £1,250 pcm, equivalent to £15,000 annually. Against the £140,000 guide, this indicates a gross yield of approximately 10.7% before works, finance, letting, maintenance, voids and other costs. A yield on total project cost cannot be established because the refurbishment budget and any additional completion fees are unknown.

Flip Analysis

The supplied sales support an indicative GDV range of £266,000 to £330,000, with a £300,000 base case. A flip surplus cannot be calculated because the refurbishment cost, total acquisition costs, possible seller fees and selling allowance are not supplied.

Investor Risks & Due Diligence

• The property requires modernisation, but the scope and cost of works are unknown.

• The rental figure is an advertised asking rent rather than achieved or passing rent.

• The sold comparables are recorded as semi-detached properties, with no confirmation that they are bungalows or comparable in size and condition.

• The buyer premium is £1,500 inclusive of VAT, and the seller may charge additional completion fees under the special conditions.

• The EPC is rated D, but no heating details or improvement requirements are supplied.

Recommendation

Potential refurbishment-led BTL, subject to a full survey, confirmed modernisation budget and legal review of any seller fees. Do not rely on the apparent guide-price yield or set a maximum bid until total costs are known.

Strategy Rating

Analysis Confidence

Same-road sold evidence and one advertised rental provide useful market indications, but the comparables are not confirmed as bungalows and there is no floor area, detailed condition report, refurbishment budget or complete fee schedule.