Fen View, Linwood Road, Martin, Lincoln, Lincolnshire

Description

A wonderful opportunity to acquire this substantial detached residence, offered for sale in need of a full scheme of renovation but benefitting from versatile and well proportioned accommodation throughout. There is scope to add significant value through remedial works, and an internal viewing is highly recommended.

Accommodation

Storm Porch with composite main entrance door to entrance lobby. Sitting room with cast iron stove, open brick surround, clay tiled hearth and timber mantle. Kitchen with fitted units, sink with drainer inset, base units, wall mounted cupboards and larder cupboard. Utility room with sink, base unit, space and plumbing for washing machine, timber door to rear garden and latch door to shower room. Shower room with corner shower cubicle, pedestal wash hand basin and low level WC. Inner hall with main staircase to first floor, latch doors to home office and living room. Living room with cast iron stove set to slate surround with timber mantle. Conservatory. Office. Storage area with built-in storage cupboard. Study. First-floor landing with built-in airing cupboard and latch doors to first-floor accommodation. Bedroom 1 with fitted wardrobes and en-suite comprising shower cubicle, wash hand basin over vanity cupboard and low level WC. Bedroom 2 with feature cast iron fireplace, exposed timber flooring, built-in wardrobe and en-suite comprising tiled corner shower cubicle, wash hand basin over vanity unit and low level WC. Bedrooms 3, 4, 5 and 6. Bedroom 4 has a cast iron fireplace and full-height built-in double wardrobe. Bathroom with freestanding bath, wash hand basin over vanity cupboard, vanity mirror and WC. Outside, gardens to the side and rear with mature shrubs and trees, paved patio and decked seating area. Detached garage divided into gym, with uPVC door to side and patio doors to rear garden, and storage with up-and-over door.

Location

The property is situated within mature woodland on the outskirts of Martin village, well positioned for access to the surrounding area, including Woodhall Spa and the City of Lincoln.

Tenure / Property Information

Investment Analysis

The £425,000 comparable is a different detached property on the same road, sold in May 2022, while the subject's only supplied sale is from 2001. The evidence is insufficient to establish a reliable current GDV, particularly given the stated need for a full renovation. The £200,000 guide is before fees and refurbishment.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, inspecting the property and obtaining detailed renovation and valuation evidence. Do not bid on the current evidence alone.

Works Required

Undertake a full renovation and remedial scheme to the existing house, including assessment and upgrading of the listed accommodation and services. The supplied evidence does not quantify the required works or costs.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be reliably completed because refurbishment costs, post-works GDV, rent and refinance value are unsupported. At the £200,000 guide, known buyer premium and admin charge total £4,500, before any disbursements or works.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent and yield cannot be established. The full renovation requirement also prevents a reliable operating-cost assessment.

Flip Analysis

A flip may benefit from the property's size and renovation potential, but no reliable current GDV, refurbishment budget or selling allowance is supported. Profit cannot therefore be calculated.

Investor Risks & Due Diligence

• Full renovation is required, but no quantified works scope or cost is supplied.

• Current GDV is unproven; the available comparable is a different property and the subject sale is from 2001.

• No sufficiently specific rental evidence is available.

• Additional disbursements and other legal or seller costs may be payable under the legal pack.

• The property is described as being within mature woodland, but no further site or legal assessment is supplied.

Recommendation

Proceed only after reviewing the legal pack, inspecting the property and obtaining detailed renovation and valuation evidence. Do not bid on the current evidence alone.

Strategy Rating

Analysis Confidence

The evidence includes a description, one materially dated subject sale and one different 2022 comparable, but no current valuation, rental evidence, measured floor area, refurbishment budget or detailed legal-cost schedule.