Bideford Sunningdale, Grange Road, Bideford, Devon

Description

Collectively arranged to provide a total of sixteen letting rooms. GIA, sourced from the EPC, approximately 573 sq m (6,168 sq ft). By order of a fund.

Accommodation

Lower Ground Floor: Seven bedrooms, two kitchens, shower room and WC. Ground Floor: Reception room, five bedrooms, WC and store. First Floor: Reception room, four bedrooms, staff bedroom, office, kitchen, bathroom and shower room.

Location

Located on the east side of Grange Road. Local shops and amenities are available to the west along The Quay. Barnstaple rail station is approximately 8.5 miles to the north east. The A39 is to the north. Victoria Park is approximately 0.8 miles to the north west.

Tenure / Property Information

Investment Analysis

The property is offered at a £300,000+ guide and comprises two freehold semi-detached buildings with 16 letting rooms and approximately 573 sq m GIA. The supplied sold comparables are semi-detached properties on Grange Road, but are dated from 2005 to 2017 and provide no sufficiently current or directly comparable valuation evidence. No supported GDV, refurbishment budget, rental evidence or auctioneer rent estimate is available, so value and investment returns cannot be reliably established.

Investment Snapshot

Strategy Recommendation

Do not proceed on yield, BRRR or flip assumptions without obtaining and reviewing the lease, current market valuation evidence, rental evidence, condition survey, compliance information and full auction costs. The £300,000+ guide should be treated only as the auction guide, not as an established value.

Works Required

No specific defects or required works are identified in the supplied evidence. Before bidding, verify the physical condition, room layouts, kitchens, sanitary facilities, services, fire safety, licensing/planning position, EPC requirements and the condition of the off-street parking and garden.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably. There is no supported GDV, refurbishment allowance, rent, buyer/admin fee information or refinance valuation evidence. The existing lease to Birch Housing Limited until 17 October 2052 is central to any refinance and must be examined, including rent and obligations.

Buy-to-Let Analysis

A BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is subject to a lease in favour of Birch Housing Limited until 17 October 2052, but no rent, lease terms, repairing obligations, break rights or covenant information is provided. The lease must be reviewed before assessing income security or value.

Flip Analysis

A flip surplus cannot be calculated. The supplied historic Grange Road comparables are insufficiently current and not demonstrated to be comparable with a 573 sq m, 16-room property. No refurbishment cost, resale allowance or supported GDV is available.

Investor Risks & Due Diligence

• The property is subject to a lease in favour of Birch Housing Limited until 17 October 2052, but the lease terms and income are not supplied.

• No sufficiently specific rental evidence or passing rent is provided, so yield and income security cannot be assessed.

• No condition survey or refurbishment budget is available for the 573 sq m property.

• The supplied sold comparables are dated between 2005 and 2017 and are not sufficient to establish current market value.

• Additional seller or third-party charges may apply and are not quantified.

Recommendation

Do not proceed on yield, BRRR or flip assumptions without obtaining and reviewing the lease, current market valuation evidence, rental evidence, condition survey, compliance information and full auction costs. The £300,000+ guide should be treated only as the auction guide, not as an established value.

Strategy Rating

Analysis Confidence

The evidence confirms the size, room count, tenure, lease existence and guide, but lacks current comparable evidence, rent, condition, refurbishment costs, lease economics and buyer or selling costs.