93 Springfield Road, Grantham, Lincolnshire

Description

Vacant freehold mid terrace house with a rear garden and approximately 63.32 sq m (682 sq ft) GIA. An eight week completion period applies to this lot.

Accommodation

Ground floor: reception room, kitchen and utility room. First floor: two bedrooms and bathroom. Garden to the rear. GIA approximately 63.32 sq m (682 sq ft).

Location

The busy market town of Grantham boasts a good range of supermarkets, restaurants and sport facilities. The town also provides a cinema, recreational parks including a river walk and rail station on the main Intercity line, perfect for commuting. The National Trust Belton House, with grounds and children's playground, Belvoir Castle and Rutland Water are some local places of interest.

Tenure / Property Information

Investment Analysis

Recent same-street completed sales were £135,000 and £140,000 in April 2026. The subject itself sold for £85,000 in February 2025, creating significant condition and valuation uncertainty because no condition details are supplied. A cautious HB GDV range is £85,000–£140,000, with £135,000 used as the base scenario based on the two latest nearby comparables; this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Potential BTL or value-add resale only after inspection, verification of achievable rent and confirmation of all auction and transaction costs. Do not rely on the headline GDV spread without establishing the property's condition.

Works Required

No specific defects or refurbishment requirements are evidenced. Arrange a full inspection and budget only for works confirmed as necessary, together with any statutory, safety or presentation works identified before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £135,000 base GDV, a 75% refinance is £101,250. However, refurbishment cost, buyer or administration charges, finance costs and other transaction costs are unavailable, so total project cost and cash left in cannot be calculated. The eight-week completion requirement also needs funding readiness.

Buy-to-Let Analysis

The supplied rental evidence is one advertised asking rent of £875 pcm, equivalent to £10,500 annually. Against the £80,000 guide, this indicates a gross yield of approximately 13.13%, before finance, voids, management, maintenance, tax and purchase costs. Achieved rent, condition, EPC and running costs are not supplied, so net returns cannot be established.

Flip Analysis

At the £80,000 guide, the headline difference to the £135,000 base GDV is £55,000 before works, selling costs, finance, taxes and other charges. Because no works allowance or selling allowance is evidenced, a reliable flip surplus and maximum bid cannot be calculated. The £85,000 prior sale also highlights material valuation risk.

Investor Risks & Due Diligence

• The £85,000 February 2025 sale of the subject is substantially below the £135,000–£140,000 recent nearby sales, indicating unresolved condition or valuation uncertainty.

• No inspection findings or refurbishment costs are supplied.

• The £875 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Buyer, administration, seller and third-party charges are not quantified.

• EPC, council tax, heating, parking and operating-cost information is unavailable.

• The eight-week completion period may require rapid funding and conveyancing.

Recommendation

Potential BTL or value-add resale only after inspection, verification of achievable rent and confirmation of all auction and transaction costs. Do not rely on the headline GDV spread without establishing the property's condition.

Strategy Rating

Analysis Confidence

There are recent same-street sold comparables and one rental asking figure, but condition, EPC, achieved rent, works, buyer/admin fees, finance costs and selling costs are not supplied. The subject's lower prior sale materially widens valuation uncertainty.