Old Post Office, Foston, Derby DE65 5DL

Description

In need of complete renovation. Located in the beautiful village of Foston and offered for sale with no upward chain, this spacious period home stands on a most generous plot and offers excellent potential. With large gardens to the rear, two reception rooms and two bedrooms, it must be viewed. Benefitting from central heating. The property was formerly the village Post Office.

Accommodation

Entrance hall; lounge with feature central fireplace, 3.78m x 3.66m; dining room, 2.72m x 2.72m; breakfast kitchen, 3.28m x 3.28m; inner hall; ground floor W.C., 1.60m x 0.76m; first floor landing; Bedroom One, 4.83m x 4.42m; Bedroom Two, 3.99m x 3.81m; bathroom, 2.24m x 1.68m.

Location

Foston is a small historic hamlet in the Derbyshire countryside, surrounded by open farmland, picturesque walks and countryside surroundings. The A0 and A38 provide access to Derby, Stoke-on-Trent, Uttoxeter and Burton upon Trent.

Tenure / Property Information

Investment Analysis

The £160,000+ guide is not a formal valuation. The closest supplied evidence is 21 Woodlands Drive, Foston, a semi-detached sale at £170,000 in January 2022, but no floor area, condition, specification or similarity details are provided. The other Foston semi-detached sales range from £236,500 to £415,000 and appear insufficiently comparable without further evidence. A reliable GDV or maximum bid cannot therefore be established. The 4.8% buyer premium would be £7,680 at a £160,000 purchase price, subject to the stated £6,000 minimum.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, inspect the property, resolve the flying-freehold position and prepare an independent renovation cost plan and valuation before considering owner-occupier, rental or resale use.

Works Required

Complete renovation of the existing house as described, including assessment and renewal of the existing accommodation, kitchen, bathroom, heating and finishes as required. A full survey, cost plan and review of the flying freehold are essential before bidding; no specific defects or works costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. There is no supported post-renovation GDV, refurbishment budget, achievable rent or refinance valuation. The flying freehold and complete-renovation description require legal, survey and cost due diligence before considering the strategy.

Buy-to-Let Analysis

BTL cannot be assessed quantitatively because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Complete renovation requirements, the unknown total project cost and the flying freehold make the investment case presently unquantifiable.

Flip Analysis

A flip surplus cannot be calculated because there is no supported GDV, refurbishment allowance or selling-cost allowance. The supplied sold comparables are too varied and lack sufficient property-specific detail to establish a resale value.

Investor Risks & Due Diligence

• The property is described as being in need of complete renovation.

• The largest bedroom sits as a flying freehold across the adjoining property, creating a need for legal and structural due diligence.

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

• The supplied sold comparables vary substantially in price and lack size, condition and specification details, preventing a reliable GDV assessment.

• Tenure, occupancy, EPC, council tax and parking information are not supplied.

• The 4.8% buyer premium applies to the purchase price, subject to a £6,000 minimum, and additional fees may appear in the Special Conditions of Sale.

Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, inspect the property, resolve the flying-freehold position and prepare an independent renovation cost plan and valuation before considering owner-occupier, rental or resale use.

Strategy Rating

Analysis Confidence

The evidence confirms the property type, accommodation, guide price, buyer premium and flying freehold, but omits tenure, occupancy, EPC, council tax, parking, rental evidence, condition detail, refurbishment costs and a reliable directly comparable valuation.