Garrick House, 43 Tarrant Street, Arundel, BN18 9DJ

Description

Attractive period property; Grade II Listed; three stories; in need of modernisation; conveniently located for the shopping and recreational amenities of Arundel; occupied; by order of the LPA Receivers.

Accommodation

The property has not been inspected by the auctioneers. It is understood to be a 3 / 4 bedroom house with a rear courtyard garden. Interested parties must rely on their own enquiries.

Location

Situated on Tarrant Street in the historic town of Arundel, West Sussex. Local shops, cafes, restaurants and everyday services are available within Arundel town centre, along with schools, healthcare facilities and community amenities. Recreational options include nearby parks such as Castle Park and riverside walks along the River Arun. Transport links include Arundel railway station, regular bus services and road access via the A27 and A284.

Tenure / Property Information

Investment Analysis

The strongest evidence is 59 Tarrant Street, a freehold terraced sale at £470,000 on 14 November 2025. Older same-street sales range from £845,000 to £1,000,000, but the properties, condition, accommodation and market conditions are not sufficiently comparable. Given the subject property is uninspected, occupied and in need of modernisation, £470,000 is used as a cautious provisional base GDV rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Obtain a full inspection, listed-building advice, title and Special Conditions review, and clarify the occupier's legal status before considering a purchase.

Works Required

Establish the condition and required modernisation through inspection and legal enquiries. Any works must account for the Grade II Listed status and may require appropriate consents. No specific defects or quantified works allowance are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A provisional £470,000 GDV implies a 75% refinance figure of £352,500. BRRR viability cannot be established because refurbishment costs, purchase fees, occupation issues, finance costs and the property's actual condition are unknown. The third-party occupation may also affect possession and refurbishment timing.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,500 pcm for a three-bedroom house in BN18, equivalent to £30,000 annually. Against the £450,000 guide this indicates a gross yield of approximately 6.67%, before finance, repairs, voids, management, tax and acquisition costs. The rent is not achieved rent and the subject property has not been inspected, so achievable rent and net return remain uncertain.

Flip Analysis

The latest same-street sale provides a cautious £470,000 GDV anchor, only £20,000 above the £450,000 guide before refurbishment, buyer fees, seller charges, VAT, finance and resale costs. Older higher sales are not sufficiently comparable to support a reliable resale surplus. A flip surplus cannot be calculated without a supported works and transaction-cost allowance.

Investor Risks & Due Diligence

• The auctioneers have not inspected the property, so condition, layout and actual bedroom count are unverified.

• The property is occupied by a third party and the legal basis of occupation is unknown.

• Grade II Listed status may restrict works and require appropriate consents.

• The guide excludes the auctioneer's buyer fee, possible VAT and other seller charges; amounts are not supplied.

• No refurbishment budget can be supported from the evidence.

• The rental figure is an advertised asking rent, not achieved or passing rent.

• The higher historic comparables may not be comparable in size, condition or specification.

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

Recommendation

Do not bid on current evidence alone. Obtain a full inspection, listed-building advice, title and Special Conditions review, and clarify the occupier's legal status before considering a purchase.

Strategy Rating

Analysis Confidence

There is a recent same-street comparable and one asking-rent reference, but the property is uninspected, occupied on an unknown legal basis, listed, requires modernisation, and has no supported works, fee, EPC or other cost information.