Kings Lodge, High Street, Pevensey, East Sussex BN24 5JR

Description

A 2 bedroom, 3 reception room detached house situated on a plot of 0.114 acres in need of modernisation and repair.

Accommodation

Ground floor: Entrance hall, living room, dining room, further reception room, kitchen. First floor: 2 bedrooms, bathroom and shower room. Outside: Driveway and attached garage, gardens, plot size 0.114 acres.

Location

Pevensey offers a range of local shops, pubs and a highly regarded primary school. Easy access to the coastline at Pevensey Bay with its many attractions. Pevensey Bay railway station approximately 0.3 miles and Pevensey & Westham station approximately 0.7 miles.

Tenure / Property Information

Investment Analysis

The £190,000 guide is the only current pricing evidence. The sole supplied comparable is the same property recorded at £110,000 in 1997, which is historic and insufficient to establish current market value or GDV. The property is described as requiring modernisation and repair, but no quantified works allowance is provided.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain a full inspection, quantified refurbishment quotation, current comparable sales, rental evidence, tenure information and Special Conditions before considering a refurbishment or resale strategy.

Works Required

Modernisation and repair as required by the description. The evidence does not identify specific defects, building elements or scope, so no reliable works budget can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported without a current GDV, quantified refurbishment budget, market rent and finance assumptions. The 10% deposit requirement, subject to a £5,000 minimum, applies on exchange, with potential additional Special Conditions fees not provided.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Total acquisition and refurbishment costs are also unknown. The £2,340 buyer premium would be payable in addition to the purchase price.

Flip Analysis

A flip surplus cannot be calculated. Current resale value, refurbishment cost and selling costs are unsupported. The 1997 £110,000 sale is not a reliable current GDV indicator.

Investor Risks & Due Diligence

• The property is stated to need modernisation and repair, but the extent and cost of works are unknown.

• No current comparable sales support the £190,000 guide or a GDV.

• No sufficiently specific rental evidence supports a BTL appraisal.

• Tenure and occupancy information are not supplied.

• Additional fees may be listed in the Special Conditions of Sale and are not quantified.

• The £2,340 buyer premium is payable in addition to the purchase price.

Recommendation

Do not bid on the supplied evidence alone. Obtain a full inspection, quantified refurbishment quotation, current comparable sales, rental evidence, tenure information and Special Conditions before considering a refurbishment or resale strategy.

Strategy Rating

Analysis Confidence

Current evidence is incomplete: tenure, occupancy, condition detail, refurbishment cost, rent, current comparables, GDV, selling costs and several property particulars are unavailable.