Hambridge Mill, Hambridge, Langport, Somerset, TA10 0BP

Description

A Vacant Substantial Five Bedroom Detached House with Additional Outbuildings that Include 3 x Showroom and Offices and a Stable Block all Situated on a Plot of Land Measuring Approximately 6.03 Acres (24,406 sq m/ 262,713 sq ft). The site comprises a five bedroom detached house with numerous outbuildings. The property requires a program of refurbishment.

Accommodation

Mill House: Ground Floor - Reception Room, Kitchen/Dining Area, Utility Room; First Floor - Two Bedrooms, Dressing Room, Bathroom; Second Floor - Three Bedrooms. Mill Cottage: Ground Floor - Open Plan Reception/Kitchen, WC; First Floor - Five Rooms. Garage Block adjoining Mill Cottage: Ground Floor - Storage Area; First Floor - Storage Area. Stable Block - Storage/Showroom. The Tower - Showroom/storage premises on ground and three upper floors. Hambridge - Single storey with adjoining car parking area. Approx GIA: 4,080 sq m (43,940 sq ft).

Location

The property is situated on a semi-rural setting close to the local village shops and amenities. There are numerous green open spaces close by. Transport links are provided by the A378.

Tenure / Property Information

Investment Analysis

No guide price, current valuation evidence, GDV evidence, rental evidence or quantified refurbishment cost is supplied. The only sale comparable is Bridge Cottage, Hambridge, Langport, sold for £276,000 on 15 October 2015. It is a detached freehold property in the same stated area, but it is materially dated and insufficient to value this substantially larger 6.03-acre property with extensive outbuildings and approximately 43,940 sq ft GIA. A reliable market value, GDV and maximum bid cannot therefore be established.

Strategy Recommendation

Do not set a bid or proceed on the supplied evidence alone. Consider only after reviewing the legal pack and obtaining current valuation, measured-area, planning/use, condition, refurbishment and resale or rental appraisals.

Works Required

The property is stated to require a programme of refurbishment. Obtain full building, services, structural, asbestos and planning surveys, then scope and price refurbishment of the five-bedroom house and inspection-led works to the cottage, garage, stable block, tower, showrooms, offices and associated areas. No specific defects or cost allowances are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because the purchase price, refurbishment cost, achievable rent, GDV and refinance valuation are unsupported. The vacant freehold property has a substantial residential and outbuilding component, but the commercial/showroom and office accommodation requires separate due diligence on use, condition and financeability.

Buy-to-Let Analysis

BTL analysis cannot be completed. No sufficiently specific external rental comparable or auctioneer rent estimate is provided, and no guide price or refurbishment budget is available. The property's extensive additional buildings and stated refurbishment requirement would require separate use, condition and lettability assessment.

Flip Analysis

A flip appraisal cannot be completed. There is no guide price, current GDV evidence, refurbishment budget or supported selling allowance. The 2015 £276,000 Bridge Cottage sale is not sufficient evidence for the value of this much larger property and its extensive outbuildings.

Investor Risks & Due Diligence

• No guide price or current market valuation is supplied.

• The property is stated to require refurbishment, but no condition survey or cost estimate is provided.

• The extensive outbuildings include showrooms, offices, storage and a stable block, but their lawful uses, condition and value are not evidenced.

• No rental evidence or auctioneer rent estimate is available.

• Planning, legal-pack disbursements and any restrictions affecting the 6.03-acre site are unknown.

• The sole supplied comparable is from 2015 and is insufficient for this substantially larger property.

• Buyer finance, insurance and operational requirements may be affected by the vacant condition and mixed accommodation, but no supporting detail is supplied.

Recommendation

Do not set a bid or proceed on the supplied evidence alone. Consider only after reviewing the legal pack and obtaining current valuation, measured-area, planning/use, condition, refurbishment and resale or rental appraisals.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, accommodation, approximate site/GIA and refurbishment requirement, but omits guide price, current comparable evidence, rents, EPC, costs, planning information and quantified works.