Ground Floor Flat, 29 Station Road, Billingshurst, West Sussex, RH14 9RU

Description

A Detached Building Arranged to Provide A Vacant Ground Floor Two Bedroom Flat and a First Floor Flat (Sold off on a Long Lease). The property comprises a detached building arranged to provide a ground floor two bedroom flat and a first floor flat. By Order of the Executors.

Accommodation

Ground Floor: Reception Room; Kitchen/Diner; Two Bedrooms; Bathroom. First Floor: Flat (Not Inspected).

Location

The property is situated on a residential road close to local shops and amenities as well as The Weald School. The open spaces of Station Road Community Gardens are within easy reach. Transport links are provided by Billingshurst rail station.

Tenure / Property Information

Investment Analysis

The only completed-sale evidence is £130,000 for 29 Station Road on 30 November 2010, recorded as a freehold flat/maisonette. This historic transaction is not sufficient to establish a current GDV for the vacant ground floor two-bedroom flat. No current comparable sales, guide price, condition evidence, EPC, council tax or buyer premium are supplied.

Strategy Recommendation

Do not set a bid or pursue a strategy until the legal pack, current market evidence, inspection findings, rental evidence and all purchaser costs are reviewed. The vacant ground-floor flat may suit either owner occupation or investment, but neither can currently be underwritten.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a full inspection and quotations before bidding; confirm the condition of the reception room, kitchen/diner, two bedrooms, bathroom, services and external areas. The first-floor flat was not inspected.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. Current GDV, purchase price, refurbishment cost, rent and refinance value are all unsupported. The £1,800 inc VAT administration charge is known, while any disbursements and other special-condition costs remain unknown.

Buy-to-Let Analysis

A BTL assessment cannot be quantified because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. The flat is vacant and has off-street parking, but achievable rent and operating costs remain unverified.

Flip Analysis

A flip appraisal cannot be quantified. The only sale evidence is the historic £130,000 transaction dated 30 November 2010, with no current GDV, guide price, works budget or supported selling allowance.

Investor Risks & Due Diligence

• The first-floor flat was not inspected.

• The first-floor flat is sold off on a 125-year lease from 30 November 2010 with £100 annual ground rent rising every 20 years.

• Disbursements and other charges under the legal pack or special conditions may become payable.

• No current guide price or buyer premium is supplied.

• No sufficiently specific rental evidence is available.

• The only comparable sale is historic, dated 30 November 2010.

• The condition and costs of the vacant ground-floor flat are unverified.

Recommendation

Do not set a bid or pursue a strategy until the legal pack, current market evidence, inspection findings, rental evidence and all purchaser costs are reviewed. The vacant ground-floor flat may suit either owner occupation or investment, but neither can currently be underwritten.

Strategy Rating

Analysis Confidence

Evidence is limited to a property description, one historic same-address sale, a known administration charge and broad location information. Current value, rent, condition, guide price, EPC, council tax and full acquisition costs are unavailable.