Corner House, 77 High Street, Caythorpe, Grantham, NG32 3DP, and Corner House Cottage, 5 Church Lane, Grantham, Lincolnshire, NG32 3DU

Description

Offered for sale is a Grade II listed seven-bedroom property with an attached Grade II listed two-bedroom cottage annexe. There is flexible accommodation across the two properties, which are held on the same title register. There is pedestrian access over the courtyard with access to the properties from both road frontage and to the rear. The detached garage has been used as a home office and there is a staircase rising to the loft space. There is an inspection pit in the garage and double doors opening out onto Church Lane. Most recently, the properties have operated as a care home and there is scope to re-instate a care home, subject to necessary permissions and consents, whilst also providing the opportunity for other potential commercial uses. The property has been well maintained over the years and upgrades have been made sympathetically, in keeping with the character and history of the building.

Accommodation

Both properties: Ground Floor: entrance hall, 7 reception rooms, kitchen, wet room, 4 WC. First Floor: 7 bedrooms, 2 WC ensuite, WC, bathroom, laundry room, laundry cupboard, utility room. External: detached garage, pedestrian access over the courtyard area, private garden. The private and enclosed rear garden includes a lawned and patio area and a summer house. The properties have separate electric and water meters.

Location

Caythorpe is a picturesque village in Lincolnshire, approximately 9 miles from Grantham and 13 miles from Newark.

Tenure / Property Information

Investment Analysis

The £400,000 guide is the only supplied price evidence. No completed sales, specific rental comparables, auctioneer rent estimate or supported GDV evidence is provided. The property is Grade II listed, comprises 475 sq m across a seven-bedroom main property and two-bedroom annexe, and was formerly operated as a care home. Any care-home or alternative commercial use is subject to necessary permissions and consents. The £1,800 inclusive-of-VAT contract documentation fee is known; possible seller charges are not quantified.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence. Consider the property only after reviewing the legal pack and special conditions, confirming planning and listed-building consent requirements, inspecting the 475 sq m accommodation and services, and obtaining independent market and rental evidence.

Works Required

No specific defects or required works are evidenced. Allow for a detailed building, services and listed-building inspection, with any maintenance, alterations or change-of-use works subject to appropriate consents. No refurbishment allowance is included in the calculations.

Rental & Market Context

Potential BRRR Position

A BRRR assessment is not supportable without an evidence-based GDV, rental figure, refurbishment budget and refinance assumptions. The separate meters and vacant possession may assist operational flexibility, but do not establish value or refinanceability. Listed-building restrictions and the former care-home use require due diligence before relying on a conversion or reconfiguration strategy.

Buy-to-Let Analysis

BTL cannot be underwritten from the supplied evidence because no sufficiently specific rental comparable or auctioneer rent estimate is available. The former care-home operation and any alternative commercial use would also require confirmation of the relevant permissions and consent position. The indicative acquisition baseline is £401,800, comprising the £400,000 guide and £1,800 documentation fee, before any works, finance, tax or unquantified seller charges.

Flip Analysis

A flip cannot be quantified because no completed sales, supported GDV, refurbishment costs or selling allowance are supplied. The property may have resale appeal due to its scale and character, but the Grade II listing, former care-home use and potential consent requirements create material cost and timing uncertainty.

Investor Risks & Due Diligence

• Grade II listed status may restrict alterations, repairs, reconfiguration and changes of use.

• Reinstating a care home or pursuing other commercial uses is subject to necessary permissions and consents.

• No sufficiently specific rental evidence is available, so income and yield cannot be established.

• No completed sales evidence is supplied, so market value and GDV cannot be supported.

• Electric heating is used and there is no gas in the village; running costs and future service requirements are not evidenced.

• The property is held under one title despite comprising the main property and cottage annexe; legal arrangements, access and usability should be verified.

• Pedestrian access over the courtyard and access from both road frontage and rear should be checked in the legal documentation.

• Additional seller fees may be payable under the special conditions, but no amounts are supplied.

• No refurbishment or maintenance budget can be established from the supplied description.

Recommendation

Do not bid on the current evidence. Consider the property only after reviewing the legal pack and special conditions, confirming planning and listed-building consent requirements, inspecting the 475 sq m accommodation and services, and obtaining independent market and rental evidence.

Strategy Rating

Analysis Confidence

The description, tenure, occupancy, guide price, EPC, fee and former use are provided, but there are no sales comparables, rental evidence, GDV, quantified works, auctioneer rent estimate or quantified seller charges.