95 Kirkley Gardens, Lowestoft, Suffolk

Description

Three bedroom semi detached house in need of full refurbishment. Situated close to the sea front and local amenities including independent shops, schools and restaurants. The property has been within the same family for many years and is now to be sold with vacant possession. Ideal investment opportunity.

Accommodation

Entrance hall, Lounge, Dining Room, Kitchen, Bathroom, Landing, Bedroom 1, Bedroom 2, Bedroom 3

Location

Situated close to the sea front and local amenities including independent shops, schools and restaurants.

Tenure / Property Information

Investment Analysis

The strongest evidence is 89 Kirkley Gardens, a semi-detached freehold property sold for £210,000 in December 2024. This supports an indicative post-refurbishment GDV of £210,000, although the comparable’s condition, accommodation size and specification are not supplied and the subject requires full refurbishment. The £110,000 guide is before the £1,800 inclusive-of-VAT contract documentation fee and any applicable seller charges. Rental evidence comprises advertised asking rents of £900–£1,125 pcm only; no achieved rent or auctioneer estimate is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal review and a detailed full-refurbishment quotation. The property may suit a value-add BTL or flip, but the maximum bid should not be set from the guide alone because the all-in project cost is unknown.

Works Required

Full refurbishment as described by the auctioneer. The evidence does not specify individual defects, required trades, layout changes, services, kitchen or bathroom condition, so no detailed scope or cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR strategy is indicated by the vacant freehold property, guide price and £210,000 same-street comparable. However, refurbishment cost, actual purchase price, finance costs and achievable post-works rent are unavailable. Consequently, the 75% GDV refinance amount and cash left in cannot be reliably calculated.

Buy-to-Let Analysis

At the £110,000 guide, the advertised rent range implies gross yields of approximately 9.82%–12.27% before refurbishment, finance, management, maintenance, voids, insurance, tax and acquisition costs. These are asking rents rather than achieved rents, and the property requires full refurbishment. A yield on the completed all-in cost cannot be established without a refurbishment quotation and purchase price.

Flip Analysis

A £210,000 base GDV is supported by the December 2024 sale of 89 Kirkley Gardens, but the comparable’s condition and specification are unknown. The flip surplus cannot be calculated because no refurbishment cost, purchase premium, finance cost or supported selling allowance is provided.

Investor Risks & Due Diligence

• Full refurbishment is stated but no detailed condition survey or works specification is supplied.

• No refurbishment cost estimate is available, preventing reliable total-cost, BRRR or flip calculations.

• The £210,000 GDV relies principally on one same-street comparable whose condition, size and specification are not supplied.

• Rental figures are advertised asking rents rather than achieved rents.

• The property’s final auction price may exceed the £110,000 guide.

• A £1,800 inclusive-of-VAT contract documentation fee is payable, and additional seller charges may apply under the special conditions.

• Parking and heating details require confirmation from the auction centre.

Recommendation

Proceed only subject to inspection, legal review and a detailed full-refurbishment quotation. The property may suit a value-add BTL or flip, but the maximum bid should not be set from the guide alone because the all-in project cost is unknown.

Strategy Rating

Analysis Confidence

There is one recent same-street sale, a guide price, a known £1,800 buyer documentation fee and a range of advertised rents. However, refurbishment costs, subject floor area, comparable condition, final auction price, seller charges and achieved rent are unavailable.