Miramar Lodge, Bonchurch Shute, Ventnor, Isle Of Wight

Description

Miramar Lodge was created from the former stable block for the Victorian manor house known as Miramar House. Miramar Lodge offers attractive accommodation over two floors including two reception rooms and two bedrooms on the first floor, one of which has en-suite facilities. Another particular feature is the balcony to the front (south facing) elevation overlooking what is an attractive and almost semi-rural location. Miramar Lodge is a short drive from the centre of Ventnor with all of its shopping and other amenities including the seafront and beach. The property is considered ideal for owner occupation or, perhaps, as a weekend retreat or holiday home.

Accommodation

Ground Floor: Entrance porch, living room, dining room, kitchen, utility room, cloakroom and conservatory. First Floor: Landing, bedroom one with access to balcony, bedroom two with en-suite shower room and W.C. Outside: Attractive gardens and double garage.

Location

Attractive and almost semi-rural location, a short drive from the centre of Ventnor, shopping and other amenities, the seafront and beach.

Tenure / Property Information

Investment Analysis

Indicative GDV is estimated at £250,000 using the supplied Bonchurch Shute completed sales as broad local evidence. The evidence is materially varied (£165,000 to £317,500), and the comparables are not confirmed as directly comparable in size, condition or accommodation. Miramar Lodge benefits from two bedrooms, gardens, a double garage and vacant possession, but its EPC F rating and former-stable-block construction create uncertainty. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Prioritise owner occupation or a personal weekend/holiday home assessment, as described by the auction evidence. Do not pursue BTL, BRRR or a flip without verified rent, inspection findings, works costs and all auction charges.

Works Required

Obtain a full condition survey and review the implications of the EPC F rating. Any energy-efficiency, repair, decorative or external works should be specified and priced only after inspection; no particular defects or works budget is evidenced.

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 because refurbishment costs, rent and acquisition-related charges are not supplied. At the indicative £250,000 GDV, 75% refinance is approximately £187,500, but the cash required and refinance viability remain unquantified.

Buy-to-Let Analysis

BTL economics cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate has been supplied. The property is vacant, so there is no passing rent evidence. Confirm achievable rent, letting demand and operating costs before considering a rental strategy.

Flip Analysis

A flip assessment is uncertain. The indicative base GDV is £250,000, but no supported refurbishment budget, selling allowance or detailed condition evidence is available. The broad local comparable range means a resale surplus cannot be calculated reliably.

Investor Risks & Due Diligence

• EPC F may indicate a need for energy-efficiency improvements, but the scope and cost are unknown.

• Local completed sales vary substantially from £165,000 to £317,500 and are not confirmed as directly comparable.

• No sufficiently specific rental evidence is available, preventing reliable yield analysis.

• An administration fee and other non-optional buyer costs may apply in addition to the bid price, but they are not quantified.

• The property is vacant, so there is no established passing income.

Recommendation

Prioritise owner occupation or a personal weekend/holiday home assessment, as described by the auction evidence. Do not pursue BTL, BRRR or a flip without verified rent, inspection findings, works costs and all auction charges.

Strategy Rating

Analysis Confidence

There are several completed local sales and a detailed accommodation description, but the comparables vary widely and are not confirmed as directly comparable. There is no rental evidence, works budget, condition survey, or quantified buyer/admin fee information.