Redthorn House and Fen View, Church Lane, Terrington St. John, Wisbech PE14 7SD

Description

A unique opportunity to acquire a former care/supported living property found on an extremely generous plot on the Lincolnshire/Cambridgeshire border and surrounded by picturesque countryside views. For sale are 3 properties in one, Redthorn House, Redthorn Bungalow and Fen View. In total there are 10 bedrooms, 8 bathrooms, 5 reception rooms, 3 kitchens, utility rooms and outbuildings. There could be multiple options for this site and viewing is highly recommended to fully appreciate the opportunity available. The property could be retailed as 3 properties, turned back into a single dwelling or converted into apartments or multiple units (STPP).

Accommodation

Redthorn House main house: ground floor entrance, hall, lounge, dining room, kitchen and pantry; first floor three bedrooms, each with an ensuite, and a utility room. Redthorn Bungalow: hall, five bedrooms, one with an ensuite, three with sinks, one with a bathroom, separate bathroom, lounge, kitchen and conservatory. Fen View: hall, lounge, kitchen and two bedrooms, each with an ensuite.

Location

Located on the Lincolnshire/Cambridgeshire border and surrounded by picturesque countryside views.

Tenure / Property Information

Investment Analysis

The £230,000+ guide is the only current pricing evidence. The sole comparable is the same property sold in 1996 for £75,000 and is not a reliable current market-value basis. No current comparable sales, rental evidence, condition report, tenure information or planning evidence was supplied. The 4.8% buyer premium equals £11,040 at the guide, producing a guide-price purchase plus stated premium of £241,040 before any other costs, works or special-condition fees.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, tenure and occupancy details, survey, planning position for the three-property configuration or any conversion, and current market/rental evidence before considering the acquisition.

Works Required

No specific physical defects or required works are evidenced, so no refurbishment allowance can be responsibly estimated. A building survey, confirmation of the condition of all three properties and outbuildings, and review of planning and regulatory requirements would be required before specifying works.

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 GDV, rent, refurbishment budget, current condition assessment or confirmed tenure/occupancy information. The 75% GDV refinance figure and cash position are therefore unavailable.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate were supplied. The former care/supported-living use and three-property configuration also require clarification before assuming a standard residential letting strategy.

Flip Analysis

A flip appraisal cannot be calculated because no current GDV evidence, refurbishment allowance, selling allowance or condition details were supplied. The 1996 sale of the same property is too historic to support a current resale value.

Investor Risks & Due Diligence

• Tenure, occupancy and lease information were not supplied.

• The property is described as a former care/supported-living property, so its permitted use and regulatory position require verification.

• Potential reconfiguration or conversion into multiple units is stated to be subject to planning permission.

• The legal and physical status of the three properties in one sale is unclear from the supplied evidence.

• No condition, EPC, heating or detailed parking information was supplied.

• Special Conditions of Sale may contain additional fees beyond the stated buyer premium.

• No reliable current rental evidence is available.

• The only comparable is the same property sold in 1996 and is not a current valuation benchmark.

Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, tenure and occupancy details, survey, planning position for the three-property configuration or any conversion, and current market/rental evidence before considering the acquisition.

Strategy Rating

Analysis Confidence

The guide price and buyer premium are supplied, but current comparable sales, rental evidence, condition, tenure, occupancy, EPC, planning status, works costs and GDV evidence are absent.