Bellwood Farm Cottage, Harpswell, Gainsborough, DN21 5UU

Description

A two bedroom semi detached stone cottage located in a peaceful location within Harpswell. Road links give access to the surrounding market towns and the cathedral city of Lincoln. The property is in need of some modernisation but should be viewed to appreciate its potential.

Accommodation

Entrance Hallway; Lounge: 14'0" x 13'5" (4.28m x 4.11m); Second Reception/Dining Room: 14'1" x 13'10" (4.30m x 4.22m); Kitchen: 12'8" x 8'10" (3.87m x 2.70m); Rear Hallway; Lean To / Wooden Construction: 21'5" x 9'4" (6.53m x 2.86m); First Floor Landing; Bedroom: 15'0" x 14'9" to its maximum dimensions (4.59m x 4.52m to its maximum dimensions); Bedroom Two: 15'1" x 14'4" (4.62m x 4.39m); L Shaped Shower Room: 11'7" x 7'3" (3.55m x 2.23m). Externally: mature gardens with a variety of shrubs, bushes and trees with open field views and ample area for off-road parking. Please see title plan for exact boundaries.

Location

Located in a peaceful location within Harpswell. Road links give access to surrounding market towns and the cathedral city of Lincoln.

Tenure / Property Information

Investment Analysis

The only comparable is a £130,000 completed sale in Harpswell from September 2021. It is broadly relevant in type, tenure and location, but is dated and insufficient to establish a current GDV. The property also requires modernisation and has an EPC F rating.

Investment Snapshot

Strategy Recommendation

Proceed only after viewing and legal-pack review. Treat as a potential modernisation project, but do not rely on the 2021 comparable or advertised rent without stronger current evidence.

Works Required

Modernisation is indicated, but the evidence does not specify the required works. EPC improvement may be required, subject to inspection. The legal pack and viewing should establish condition and scope.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because current GDV, refurbishment cost and total acquisition cost are unsupported. The dated comparable and EPC F create valuation and refinancing uncertainty.

Buy-to-Let Analysis

A Zoopla listing indicates an advertised asking rent of £840 pcm, equivalent to £10,080 annually. This is not achieved or passing rent, and no purchase-cost basis, refurbishment budget or operating costs are available, so yield cannot be established reliably.

Flip Analysis

A flip assessment cannot be reliably calculated. The £130,000 comparable is from 2021, while refurbishment costs, current GDV, selling costs and acquisition price are not evidenced.

Investor Risks & Due Diligence

• EPC rating F may require improvement works.

• The property is described as needing modernisation, but the scope and cost are unknown.

• The sole comparable is dated September 2021.

• The £840 pcm figure is an advertised asking rent, not achieved or passing rent.

• Buyer premium, admin charge and possible legal-pack disbursements increase acquisition costs.

• Legal-pack terms and any additional seller-cost or transfer charges require review.

Recommendation

Proceed only after viewing and legal-pack review. Treat as a potential modernisation project, but do not rely on the 2021 comparable or advertised rent without stronger current evidence.

Strategy Rating

Analysis Confidence

Evidence includes one dated comparable, one advertised rental listing and limited condition information, but no current valuation, works budget, heating details or complete cost schedule.