Ancholme House, 74 West Street, Winterton, Lincolnshire DN15 9QF

Description

A wonderful opportunity to acquire this well proportioned and versatile, terrace property, offering significant scope to add value by way of remedial works and renovation. The property offers potential to generate a strong yield in this area of strong rental demand, with potential income of £950pcm (£11,400 per annum) once renovated to a high specification.

Accommodation

Ground Floor: Reception Room, Reception Room, Conservatory, Sun Room. First Floor: Bedroom 1, Bedroom 2, Bedroom 3, Landing. Outside: Gardens to the rear. Please note that there is no kitchen.

Location

The property is situated on West Street, Winterton, a popular and well served North Lincolnshire town, offering a wide range of facilities and amenities, along with good transport links to Scunthorpe and the wider area. The M180/A15 road network is within easy reach.

Tenure / Property Information

Investment Analysis

Relevant sold evidence is limited to older same-street terraced transactions ranging from £50,000 to £130,000, with no sufficiently comparable current sale or condition evidence. The missing kitchen and stated renovation requirement prevent a reliable GDV estimate.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence. Obtain the legal pack, full survey, refurbishment quotations and an independent valuation before considering a tightly controlled refurbishment purchase.

Works Required

Install a kitchen and undertake the remedial works and renovation required to achieve the stated high-specification finish. The current EPC is G and the property should be assessed for any works needed to improve it.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR viability cannot be established because GDV, refurbishment cost and refinance value are unsupported. The missing kitchen, EPC G and stated remedial requirements require survey and costing before bidding.

Buy-to-Let Analysis

The auctioneer estimates £950 pcm after high-specification renovation, but this is not an achieved rent and refurbishment costs are unavailable. The guide-price gross yield is 228%, but a meaningful yield on total cost cannot be established.

Flip Analysis

A flip appraisal cannot be reliably calculated because there is no supported current GDV, refurbishment budget or selling allowance. Older same-street sales provide only broad context.

Investor Risks & Due Diligence

• No kitchen is present.

• Current EPC rating is G.

• The property requires unspecified remedial works and renovation.

• The £950 pcm rent is an auctioneer estimate after renovation, not achieved rent.

• The £3,600 inc VAT administration charge materially affects the low guide price.

• Additional legal-pack disbursements and other special-condition costs may apply.

• Available sold comparables are dated and do not establish the subject property's current value or condition.

Recommendation

Do not bid on the current evidence. Obtain the legal pack, full survey, refurbishment quotations and an independent valuation before considering a tightly controlled refurbishment purchase.

Strategy Rating

Analysis Confidence

No current comparable valuation, refurbishment budget, detailed condition report, achieved rental evidence or selling-cost allowance is provided.