Barn & Land at, Station Road, UTTOXETER, Staffordshire, ST14 8JZ

Description

A two bedroom detached barn located in the highly desirable rural village of Marchington, close to road links. The barn requires some renovation works and provides scope to increase the value once these have been completed. There are services already connected to the site, including a septic tank, LPG heating system, mains water and mains electric. Electric gates have been installed giving secure access to the driveway and property. There is a good-sized rear garden with views over fields to the rear and there is also access to a large shed with double door access from the lawned area. The accommodation currently comprises an entrance hall, cloaks/WC, living room, kitchen, two bedrooms and a bathroom. The village has a church, public house and a cricket club. Offered for sale with the benefit of vacant possession.

Accommodation

Ground Floor: entrance hall, cloaks/WC, living room, kitchen, two bedrooms and a bathroom. External: gated access to the driveway. Garden mainly laid to lawn, a large shed/storage.

Location

Located in the rural village of Marchington, close to road links. The village has a church, public house and a cricket club. The property has views over fields to the rear.

Tenure / Property Information

Investment Analysis

The £251,000 completed sale is a single detached freehold comparable from September 2005 and is too historic and limited to support a current GDV. The property requires renovation, while EPC, council tax and detailed condition information are outstanding. A reliable market value, refurbishment budget and resale surplus cannot therefore be established from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Obtain a building survey, current local comparable evidence, rental evidence, EPC and full auction special conditions before considering owner-occupier, BTL or resale use.

Works Required

Renovation works are required, but the evidence does not specify the defects or scope. Obtain a full building survey and cost the kitchen, bathroom, cloaks/WC, finishes, services, LPG heating, septic tank, electric gates, shed and external areas only where inspection identifies necessary works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because current GDV, refurbishment cost and market rent are unsupported. The £1,800 inclusive-of-VAT contract documentation fee is known, but seller-charged completion fees may also apply and are not quantified.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate has been provided. Gross yield and cash flow cannot be established. Vacant possession is stated, but EPC and council tax information are outstanding.

Flip Analysis

A flip surplus cannot be calculated. The only supplied sale comparable completed in 2005 is insufficient for current GDV, and no refurbishment or selling-cost allowance is provided. The description confirms renovation is required and value uplift is only stated as potential.

Investor Risks & Due Diligence

• Renovation scope and cost are not quantified.

• The only supplied comparable is from 2005 and may not represent current market value.

• No sufficiently specific rental evidence is available.

• EPC and council tax information are outstanding.

• The seller may charge additional completion fees under the special conditions, but amounts are not provided.

• LPG heating and septic tank are present, but their condition and ongoing costs are not evidenced.

Recommendation

Do not bid on current evidence alone. Obtain a building survey, current local comparable evidence, rental evidence, EPC and full auction special conditions before considering owner-occupier, BTL or resale use.

Strategy Rating

Analysis Confidence

Evidence is limited to one historic comparable, no current rent, no quantified works, no EPC or council tax data, and potentially applicable seller fees are unspecified.