Douglas Studios, Town Lane, Sandown, Isle Of Wight

Description

Three-bedroom cottage for improvement with two reception rooms, close to the town centre and beach, off-road parking for a small car, and a roof terrace garden. The property has been let for many years but is now in need of a programme of significant upgrading and refurbishment. It is considered suitable for owner-occupation, continued use as a traditional letting investment, commercial use or private holiday use.

Accommodation

Ground floor: living room, dining room, kitchen, bathroom with W.C. and cloakroom with W.C. First floor: landing and three bedrooms. Outside: roof terrace garden at first floor level and small courtyard at ground floor level providing parking for a small car.

Location

Town Lane is a narrow street running parallel with and behind Sandown High Street. The property is well placed for the town centre, seafront and beach.

Tenure / Property Information

Investment Analysis

The only recent supplied comparable is a freehold terraced sale on Town Lane at £245,000 in July 2022. An older sale on the same street was £101,000 in 2011. The comparable’s accommodation, condition and exact relationship to Douglas Studios are not provided, so £245,000 is used only as an indicative base GDV anchor, not a formal valuation. No evidence supports reliable low/high GDV scenarios.

Investment Snapshot

Strategy Recommendation

Treat as a refurbishment-led residential opportunity for potential owner-occupation or letting, but proceed only after a full survey, detailed works budget and local rental valuation. Do not bid on the available evidence alone.

Works Required

A significant upgrading and refurbishment programme is indicated by the description. The scope and cost cannot be quantified from the evidence supplied; no specific defects are confirmed. Any works assessment should inspect the kitchen, bathrooms/WCs, finishes, roof terrace, courtyard, services and general condition before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A notional 75% refinance of the indicative £245,000 base GDV is £183,750. Cash required and equity creation cannot be calculated because refurbishment costs, purchase costs and other buyer charges are unspecified. A BRRR strategy should not be relied upon without a detailed survey, works budget and achievable rent assessment.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rental income and gross yield therefore cannot be established. The property is described as suitable for traditional letting, but the refurbishment requirement and unknown costs materially limit underwriting.

Flip Analysis

The indicative base GDV is £245,000, based mainly on one 2022 same-street sale. Flip profitability cannot be established because refurbishment costs, acquisition costs, selling costs and the property’s post-works value are not sufficiently evidenced.

Investor Risks & Due Diligence

• The property is stated to require significant upgrading and refurbishment, but no costed scope is supplied.

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

• The £245,000 comparable may not match the property’s accommodation, condition or specification.

• An administration fee and other non-optional buyer costs may apply, but amounts are unspecified.

• The property has only a small-car parking courtyard, which may affect buyer and tenant appeal.

• Stamp Duty, Land Registry fees and VAT may become payable, with no amounts provided.

Recommendation

Treat as a refurbishment-led residential opportunity for potential owner-occupation or letting, but proceed only after a full survey, detailed works budget and local rental valuation. Do not bid on the available evidence alone.

Strategy Rating

Analysis Confidence

A recent same-street sale and an older historic sale are available, but there is no specific rental evidence, no quantified refurbishment scope, no confirmed comparable specification, and no stated buyer or administration charges.