Former Three Tuns, 34 High Street, Alcester, Warwickshire, B49 5AB

Description

A vacant freehold Grade II listed former public house subject to fire damage but considered suitable for development subject to appropriate planning permission and listed building consents.

Location

Former Three Tuns, 34 High Street, Alcester, Warwickshire, B49 5AB Full listing coordinates are used for mapping: 52.214127, -1.870155.

Investment Analysis

Investment Snapshot

Works Required

• Planning/title review

• Topographical/ground investigation

• Access and utilities review

• Professional fees / viability study

HB working works allowance: £10,000–£35,000. This is based on the auction description, accommodation and visible condition indicators; replace it with surveyor/contractor evidence before bidding.

Rental & Market Context

A standard AST rent is not the correct valuation driver for this asset. Commercial ERV, passing rent, planning/site value or a consented development scheme should be used instead.

Sold within 5m radius

Reliable recent like-for-like sold comparables were not established from the supplied scrape for this individual property. No comparable addresses or prices have been invented. Before bidding, verify the HB end-value range against HM Land Registry / current local sold evidence, matching property type, size, tenure, condition and micro-location.

GDV Assessment

A defensible GDV is not stated because this lot requires a specialist commercial/development appraisal or a costed planning scheme. Assigning a residential GDV would be misleading.

Strategy Recommendation

Preferred strategy: Development. The working purchase range is £50,000–£56,000 and the works allowance is £10,000–£35,000. The key question is whether the legal pack, condition and local market evidence support the income/end-value assumptions without exhausting contingency.

Potential BRRR Position

Standard BRRR is not appropriate. Model planning probability, development finance, build costs, professional fees, statutory contributions and completed-scheme value.

Flip Analysis

A responsible flip margin cannot be calculated without a defensible end-use/valuation basis.

Development Analysis

Confirm planning status, red-line boundary, access, utilities/drainage, CIL/S106, ground conditions and professional fees. Derive land value backwards only from a fully costed scheme.

Commercial / Mixed-Use Analysis

Review passing rent/ERV, lease length, tenant covenant, repairs, VAT, business rates, service charges, vacant possession and lender criteria. Appraise residential and commercial elements separately where mixed use.

Investor Risks & Due Diligence

• Read the complete Bond Wolfe legal pack and special conditions, including buyer/admin fees

• Verify title, tenure, lease length, tenancy agreements and vacant-possession status

• Replace HB works assumptions with surveyor/contractor pricing

• Confirm mortgage/bridging and insurance availability for the exact asset type

• Re-check local rents and property-level sold comparables immediately before bidding

Maximum Bid Analysis

A defensible maximum bid requires a specialist valuation or costed development/commercial scheme. Do not derive it from the guide alone.

Recommendation

Overall HB view: Development. Risk level: High; analysis confidence: Low. The principal sensitivities are planning/site costs. Proceed only if legal and physical due diligence supports the assumptions and leaves adequate contingency.

Strategy Rating

Development: ★★★★☆ | Income: ★★☆☆☆ | Resale: ★★★☆☆

Research Sources

https://www.bondwolfe.com/auctions/properties/362472-property-auction-alcester/ | https://www.bondwolfe.com/auction/3451/ | https://www.bondwolfe.com/addendum/