Lilac Cottage, Horncastle Road, Bardney, Lincoln

Description

A double fronted semi-detached house requiring modernisation on a good size plot of approximately 11,894 sq ft, with accommodation arranged on two floors. Driveway providing off-street parking and large front, side and rear gardens with outbuildings.

Accommodation

First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three), Bedroom (Four), Bathroom, Separate WC. Ground Floor: Entrance Hall, Through Reception Room, Dining Room, Kitchen, Wet Room/WC.

Location

Situated on Horncastle Road, close to the amenities available in Bardney Village. Further amenities can be found a short drive away in Lincoln City Centre.

Tenure / Property Information

Investment Analysis

The supplied completed sales are historic (1996–2006), including £80,000 for Lilac Cottage in 2001 and £87,500 for two nearby semi-detached properties in 2006. They do not provide a reliable current GDV without an evidenced market adjustment. The property requires modernisation, but no scope or cost allowance is supplied. Current rental evidence is also insufficient. The guide is £30,000+ with a £1,500 inclusive-of-VAT buyer premium; seller fees, if applicable, are undisclosed.

Investment Snapshot

Strategy Recommendation

Do not bid on the available evidence alone. Proceed only after inspection, legal review, a priced schedule of modernisation works and current local resale/rental evidence support the numbers.

Works Required

Modernisation is required, but the evidence does not specify which elements require work. A detailed inspection and schedule of works are needed before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably. The guide is £30,000+, but the required modernisation cost, current GDV and achievable rent are unsupported. The £1,500 buyer premium and any seller fees must also be allowed for.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Refurbishment costs and current market value are also unknown.

Flip Analysis

A flip analysis cannot be quantified. The historic comparable evidence is too old to establish a current resale value, while the modernisation scope and project cost are unspecified. The £1,500 buyer premium and potentially applicable seller fees would reduce any surplus.

Investor Risks & Due Diligence

• Historic comparable sales from 1996–2006 may not represent current market value.

• The property requires modernisation, but no detailed condition report or works budget is supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Additional seller fees may be payable under the special conditions, but the amount is undisclosed.

• The buyer premium is £1,500 inclusive of VAT and the balance of the 10% deposit is payable within 24 hours, subject to the stated minimum deposit requirement.

Recommendation

Do not bid on the available evidence alone. Proceed only after inspection, legal review, a priced schedule of modernisation works and current local resale/rental evidence support the numbers.

Strategy Rating

Analysis Confidence

Current GDV and rental evidence are absent, the sold comparables are historic, refurbishment scope and cost are unspecified, and additional seller fees may apply.