Merrimoles, 89 Fakes Road, Hemsby, Great Yarmouth, Norfolk NR29 4JL

Description

Detached bungalow situated on a generous plot on the East Coast within walking distance of the beach in the village of Hemsby This substantial detached bungalow is situated on a generous plot at the end of a private drive providing access to a handful of similar properties. In good order throughout this brick and tile bungalow has over recent years undergone refurbishment to include the addition of purchased solar panels, two modern en-suites, oil fired central heating, double glazing and insulation to the walls which has provided the property with a 'C' energy rating. The property has extensive accommodation and has been extended to offer entrance hall, sitting room, dining room, kitchen, master bedroom with dressing room and ensuite, second bedroom with ensuite, two further bedrooms and family bathroom, study area, useful utility space and laundry room. This property could easily be divided to create dual generation living or suit those needing spacious single storey accommodation. A generous drive leads to double garage and lawned South facing gardens.

Location

Merrimoles, 89 Fakes Road, Hemsby, Great Yarmouth, Norfolk NR29 4JL. Located in the NR29 postcode district. Verify exact position, access, local demand and comparable evidence before bidding.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Development. Set the maximum bid only after reviewing condition, legal pack, finance, rents and sold evidence.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, decoration and any structural, roofing, damp, kitchen, bathroom, external or development works identified.

Rental & Market Context

HB rental/value figures are indicative appraisal estimates and should be checked against current local letting and sold evidence.

Sold within approximately 5 miles

Check recent Land Registry transactions and closely matched local comparables for property type, size, tenure and condition.

Potential BRRR Position

Refinance potential depends on the completed condition, lender valuation, tenure and rental stress testing; development/commercial assets require specialist lender criteria.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the full legal pack and special conditions

• Verify tenure, occupancy, planning and title restrictions

• Inspect condition and obtain contractor quotations

• Confirm finance and insurance availability

• Verify rents and recent sold comparables

• Allow for buyer premium, administration charges and disbursements

Recommendation

Proceed only where verified total project cost supports the intended development strategy with adequate contingency.

Strategy Rating

Development: ★★★★☆ | Resale: ★★★★☆ | Buy-to-Let: ★★☆☆☆