Flat A, Brook House, Fore Street, Aveton Gifford, Kingsbridge, Devon

Description

A vacant one-bedroom flat in Kingsbridge, Devon. Requiring renovation throughout, the accommodation comprises a living room, kitchen, bedroom and a shower room. Externally there is a rear garden.

Accommodation

Living Room; Kitchen; Bedroom; Shower Room

Location

Kingsbridge, Devon

Tenure / Property Information

Investment Analysis

Guide is £80,000–£90,000 plus fees. No completed sales or GDV evidence is supplied, so market value and resale value cannot be reliably established. The only rental evidence is an advertised £525 pcm asking rent for a one-bedroom flat in West Charleton, not achieved rent in this property.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence. Obtain the legal pack, lease details, a refurbishment quotation and local valuation/rental evidence before considering a BTL or resale strategy.

Works Required

Renovation throughout, limited to the described living room, kitchen, bedroom and shower room. No detailed specification or cost evidence is provided.

Rental & Market Context

Potential BRRR Position

BRRR cannot be underwritten because refurbishment cost, GDV, lease details and refinance value are unsupported. The £1,200 administration charge is known, while further legal-pack disbursements may apply.

Buy-to-Let Analysis

Using the £525 pcm advertised asking rent, annual gross rent is £6,300. Against the £80,000–£90,000 guide, indicative gross yield is approximately 7.0%–7.9%, or 7.4% at the £85,000 midpoint. This is not an achieved rent and renovation, leasehold and other costs are unknown.

Flip Analysis

A flip calculation cannot be supported because there are no completed comparables, GDV, refurbishment costs or supported selling allowance. Renovation throughout creates cost and execution uncertainty.

Investor Risks & Due Diligence

• Renovation is required throughout, but no scope or cost estimate is provided.

• Lease length and other lease terms are not supplied.

• The £525 pcm figure is an advertised asking rent for West Charleton, not achieved rent for this flat.

• Further legal-pack disbursements and seller-related costs may be payable.

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

• No completed sales evidence is available to support GDV or resale assumptions.

Recommendation

Do not bid on current evidence. Obtain the legal pack, lease details, a refurbishment quotation and local valuation/rental evidence before considering a BTL or resale strategy.

Strategy Rating

Analysis Confidence

Basic property, guide, occupancy, one asking-rent listing and administration charge are supplied, but there are no completed comparables, lease details, refurbishment costs, GDV evidence or full fee details.