Apartment D, Longstone House, Under Minnow Road, Barnstaple, Devon

Description

Longstone House is a substantial period townhouse standing behind a high stone wall on Under Minnow Road, divided into four apartments together with the owner's accommodation. Flat D occupies the first floor of the west wing.

Accommodation

First floor: entrance hall, living room, kitchen, bedroom, bathroom, utility room. Outside: attractive mature grounds, shared off-street parking and shared courtyard giving access to the property.

Location

Longstone House is set within attractive mature grounds, with palms and planting around the house. The property is on Under Minnow Road, Barnstaple, Devon.

Tenure / Property Information

Investment Analysis

Same-address leasehold flat sales supplied range from £122,500 to £170,000, with the most recent recorded sale at £162,500 on 17 October 2025. However, the evidence does not identify the sold unit, bedroom count, floor, size, condition or included rights, so these are indicative building-level references rather than fully verified comparables. A cautious scenario range is £122,500–£170,000, with £162,500 used as the base GDV.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection and satisfactory legal-pack review. The guide price appears potentially attractive against same-address sales, but absent rent, condition and unit-specific comparable evidence make a committed BTL or BRRR strategy premature.

Works Required

No physical works are evidenced. Before bidding, verify condition, lease terms, service charge, ground rent, communal maintenance obligations, parking rights and any required works through inspection and the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £162,500 base GDV, 75% refinancing would indicate £121,875 before lender deductions and valuation constraints. Against the known £47,340 guide-price acquisition cost including buyer premium, the theoretical surplus is £74,535, but this is not a reliable cash-out projection because condition, rent, finance terms, valuation suitability, lease documentation and additional costs are unconfirmed.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The known acquisition cost is £45,000 guide plus the £2,340 buyer premium, excluding any unknown legal-pack fees, finance costs, service-charge liabilities and works.

Flip Analysis

The supplied same-address sales indicate potential resale value materially above the guide, but unit identity, size, specification and condition are not confirmed. No refurbishment budget or selling-cost allowance is supported, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Same-address sold comparables may relate to different apartments and are not confirmed as directly comparable to Apartment D.

• No sufficiently specific rental evidence is available, preventing yield and cash-flow assessment.

• Condition and any refurbishment requirement are unknown.

• Lease terms, service charge and ground rent require confirmation from the auction legal pack.

• Additional fees may apply under the Special Conditions of Sale.

• Refinance value and loan availability are uncertain despite the indicative 75% GDV calculation.

• Shared parking, courtyard and grounds rights and maintenance liabilities require legal and practical verification.

Recommendation

Proceed only subject to inspection and satisfactory legal-pack review. The guide price appears potentially attractive against same-address sales, but absent rent, condition and unit-specific comparable evidence make a committed BTL or BRRR strategy premature.

Strategy Rating

Analysis Confidence

There are several completed same-address sales and a known buyer premium, but the comparables are not confirmed as the same apartment and there is no rent, condition, EPC, council-tax, heating, service-charge confirmation or full-fee evidence.