Driftwood House, 2 Broad Street, St. Columb, Cornwall, TR9 6AS

Description

A Vacant Grade II Listed Five Bedroom Mid Terrace House

Accommodation

Ground Floor: Through Reception Room, Kitchen, Bathroom. First Floor: Bedroom, Bathroom. Second Floor: Four Bedrooms, WC.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Chy Noweth Park are within easy reach. Transport links are provided by St Columb Road rail station and the A39.

Tenure / Property Information

Investment Analysis

The supplied completed sales are for 9 Broad Street rather than Driftwood House. They show historic freehold terraced transactions of £140,000–£175,000 between 2016 and 2018, but there is no current comparable evidence, condition assessment or adjustment basis. A current GDV therefore cannot be supported. The property is Grade II listed, so any alteration requirements must be verified through the legal pack and appropriate professionals.

Investment Snapshot

Strategy Recommendation

Do not bid on an investment basis until the legal pack, survey, listed-building implications, current valuation evidence and rental demand are verified. If those checks are satisfactory, reassess as a potential owner-occupier or refurbishment-led resale project.

Works Required

No specific defects or required works are evidenced. Obtain a full survey and listed-building advice before budgeting; only evidenced or professionally specified works should be allowed for. Review the legal pack for restrictions, disbursements and any required consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable without a current GDV, refurbishment budget, rent evidence and finance assumptions. The Grade II listing may constrain works and could affect the refinance valuation, so the legal pack, survey and consents require review before bidding.

Buy-to-Let Analysis

BTL cannot be underwritten from the supplied evidence because no sufficiently specific rental comparables or auctioneer rent estimate are provided. Gross rent and yield cannot be established. The vacant status means there is no evidenced passing income.

Flip Analysis

A flip surplus cannot be calculated. The only sales evidence is historic and relates to another property on Broad Street, with no current market adjustment or supported selling-cost allowance. Condition and listed-building constraints are also unknown.

Investor Risks & Due Diligence

• Grade II listed status may restrict alterations and require consents.

• No current comparable evidence directly supports a GDV.

• No sufficiently specific rental evidence or passing rent is available.

• Property condition and refurbishment requirements are not evidenced.

• The legal pack may include disbursements, search fees, seller-cost reimbursement, legal fees or transfer fees in addition to the stated £1,800 administration charge.

• EPC, council tax, heating and parking information are not supplied.

• The property is vacant, so there is no existing rental income.

Recommendation

Do not bid on an investment basis until the legal pack, survey, listed-building implications, current valuation evidence and rental demand are verified. If those checks are satisfactory, reassess as a potential owner-occupier or refurbishment-led resale project.

Strategy Rating

Analysis Confidence

Historic sales evidence is available but relates to another property and is not current. There is no condition, rental, EPC, current valuation, refurbishment-cost or complete fee evidence.