Flat 33 Linden Close, Calne, Wiltshire, SN11 0BB

Description

A two bedroom second floor flat. In need of modernisation. The property forms part of a purpose built block and benefits from use of the communal gardens. Vacant.

Accommodation

Second Floor - Entrance Hallway, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.

Location

Located on Linden Close, accessed off Silver Street. Shopping amenities are available in the centre of Calne. The recreational amenities of Castlefields Canal & River Park and Wessington Park are closeby. Road links via the M4. Transport Chippenham - GWR.

Tenure / Property Information

Investment Analysis

The supplied completed sales are for Flat 23, Linden Close, rather than the subject Flat 33, and date from 2016 and 2017. They provide a limited historic same-development benchmark of £78,000 to £115,000, but no current valuation evidence. A base GDV of £115,000 is used cautiously as an estimate, not a formal valuation. The £75,000 guide is before the unstated buyer fee, possible VAT and other seller charges.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming lease terms and obtaining a survey and refurbishment quotations. At the current evidence level, do not rely on either BTL or a flip valuation to justify bidding.

Works Required

Modernisation is required, but the evidence does not specify the works. Obtain a survey and contractor quotations before bidding; no allowance is included because no cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the cautious £115,000 historic-comparable-based GDV, 75% refinancing would be approximately £86,250. However, refurbishment cost, acquisition charges, lease costs and a dependable rent are unavailable, so cash left in and BRRR viability cannot be calculated reliably.

Buy-to-Let Analysis

BTL viability cannot be established reliably. The only rental evidence is an advertised £1,150 pcm for a two-bedroom house in Calne, not a flat, and therefore is not a sufficiently comparable rent. Buyer fees, VAT, service charge, ground rent and refurbishment costs are also unknown.

Flip Analysis

The guide is £75,000, but the project cost cannot be established because the flat only has a broad description of needing modernisation. The historic £115,000 comparable is for another flat and is dated 2017. No supported flip surplus can therefore be calculated, particularly with buyer charges, VAT and selling costs unresolved.

Investor Risks & Due Diligence

• Historic comparables are for another flat and may not reflect current market value.

• The property requires modernisation, but the scope and cost of works are unknown.

• The buyer fee is unstated and VAT may apply; other seller charges may also be payable.

• Lease terms, service charge, ground rent and other obligations require legal-pack confirmation.

• The only rent evidence is an advertised asking rent for a two-bedroom house, not the subject flat.

• No council tax, parking or heating information is supplied.

Recommendation

Proceed only after reviewing the legal pack, confirming lease terms and obtaining a survey and refurbishment quotations. At the current evidence level, do not rely on either BTL or a flip valuation to justify bidding.

Strategy Rating

Analysis Confidence

There is a same-development completed-sales benchmark and vacant possession, but the comparables are for another flat and are dated, the rental evidence is for a house, and refurbishment, service-charge, lease-cost and auction-fee information is missing.