By-the-Way, Main Street, Matlock, Derbyshire, DE4 2BL

Description

A three bedroom stone cottage located in popular Birchover, only a short distance from the beautiful market town of Bakewell. The property requires a scheme of modernisation which provides a great opportunity to ‘put your own stamp’ on the property and increase the value. The accommodation is split across 2 floors with a kitchen, dining room, lounge and a garden room to the ground floor, and with three bedrooms and a shower room to the first floor. There is a driveway providing parking in front of the detached garage and a gate giving access to the rear garden which could provide additional parking. The garden to the rear is a great size, mainly laid to lawn and with established/mature shrubbery. Offered for sale with the benefit of vacant possession.

Accommodation

Ground Floor: kitchen, dining room, living room, garden room. First Floor: three bedrooms and a shower room. External: driveway providing parking in front of the detached garage; rear garden is a great size, mainly laid to lawn.

Location

Birchover is an ancient village, mentioned in the Domesday Book of 1086. It has a collection of beautiful old cottages, many built of distinctive pink gritstone. There is a church and 2 pubs in the village, as well as bus services regularly running throughout the local area. The property is a short distance from Bakewell.

Tenure / Property Information

Investment Analysis

The supplied Birchover detached freehold comparables sold for £460,000–£573,000, with the most recent sale at £535,000 on 3 July 2025. They are not confirmed to be directly comparable in size, accommodation, condition or specification, so a reliable GDV cannot be established. The £250,000 guide appears materially below the comparable sale range, but this may reflect the required modernisation and unknown property-specific issues.

Investment Snapshot

Strategy Recommendation

Proceed only subject to full legal, structural and building inspection due diligence, confirmation of the modernisation scope, Special Conditions and all completion fees. Do not bid on the comparable-sale evidence alone; obtain a supported post-works valuation and cost plan first.

Works Required

Modernisation of the kitchen, dining, living and garden-room areas, updating the three bedrooms and shower room, and general improvement of the property and external areas as identified by inspection. The scope and specification cannot be determined from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The guide is £250,000 and the known buyer administration charge is £1,800 inclusive of VAT, giving £251,800 before refurbishment and any seller-charged completion fees. A BRRR assessment cannot be quantified because GDV, works cost, rent and refinance value are unsupported. The local sold evidence suggests potential equity, subject to direct comparability and inspection.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate were supplied. No rent, operating costs, finance costs or refurbishment budget can therefore be supported.

Flip Analysis

A flip may have potential because supplied local detached sales range from £460,000 to £573,000, but the evidence does not establish this cottage's post-works value. Refurbishment costs, selling costs, seller fees and the property's floor area and condition are unknown, so no reliable flip surplus or maximum bid can be calculated.

Investor Risks & Due Diligence

• The required modernisation scope and cost are not specified.

• The sold comparables may differ in size, accommodation, condition and specification.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• EPC is listed as TBC and heating information requires confirmation.

• The listing states that parking details should be obtained from the auction centre, while rear-garden parking is only described as a possibility.

• Seller-charged completion fees may apply but are not supplied.

• Known buyer administration charge of £1,800 is payable, with any other applicable fees requiring confirmation.

Recommendation

Proceed only subject to full legal, structural and building inspection due diligence, confirmation of the modernisation scope, Special Conditions and all completion fees. Do not bid on the comparable-sale evidence alone; obtain a supported post-works valuation and cost plan first.

Strategy Rating

Analysis Confidence

There is useful local completed-sale evidence and a clearly stated guide price, but no floor area, inspection findings, EPC, heating detail, rental evidence, refurbishment budget, supported GDV or complete fee schedule.