Russell Cottage, 27, High Street, DEREHAM, Norfolk, NR20 5RT

Description

Two bedroom cottage situated in a picturesque village to be sold with vacant possession. The property requires modernisation throughout and would make an ideal project or investment purchase. Foulsham offers local amenities and is circa 8 miles from the market town of Fakenham which offers a full range of amenities.

Accommodation

Entrance Hall, Lounge, Kitchen/Dining Room, Bathroom, Landing, Bedroom 1, Bedroom 2

Location

Village location. Foulsham offers local amenities and is circa 8 miles from the market town of Fakenham, which offers a full range of amenities.

Tenure / Property Information

Investment Analysis

The £90,000 guide is materially below the supplied Foulsham sales, but those comparables are detached, semi-detached or unspecified property types and no floor areas, bedroom counts, condition details or direct comparability evidence are provided. The sales therefore do not support a reliable GDV for this two-bedroom cottage. The property is described as requiring modernisation throughout. Known buyer cost at the guide is £1,800 including VAT, before any applicable seller fees or other transaction costs.

Investment Snapshot

Strategy Recommendation

Treat as a due-diligence-led refurbishment project only. Do not rely on the supplied sales to set a bid until the property condition, works budget, services, parking, fees and achievable rent or resale value are verified.

Works Required

Modernisation throughout, as stated in the description. The evidence does not specify individual defects, services, fixtures or required renovation items, so no detailed scope or cost allowance can be supported.

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 without a supported post-works GDV, refurbishment budget, rent, finance assumptions and full acquisition costs. At the £90,000 guide, the known purchase price plus the £1,800 documentation fee is £91,800 before works and any seller fees, but this is not a complete project cost.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. The vacant possession and freehold tenure are supportive, but the modernisation requirement and unknown total works cost prevent a reliable investment appraisal.

Flip Analysis

A flip appraisal cannot be supported. The supplied sales indicate activity on High Street, but are not sufficiently comparable to establish a cottage GDV, and no refurbishment cost or selling-cost allowance is provided.

Investor Risks & Due Diligence

• The property is stated to require modernisation throughout, but the scope and cost of works are unknown.

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

• The supplied sold comparables are different or unspecified property types and lack size and condition information.

• Parking and heating information is unavailable from the evidence.

• The seller may charge additional fees under the Special Conditions of Sale.

• The buyer premium is not stated, so total acquisition costs are incomplete.

Recommendation

Treat as a due-diligence-led refurbishment project only. Do not rely on the supplied sales to set a bid until the property condition, works budget, services, parking, fees and achievable rent or resale value are verified.

Strategy Rating

Analysis Confidence

The address, tenure, occupancy, accommodation, guide and documentation fee are supplied, but there is no floor area, detailed condition schedule, rental evidence, direct comparable evidence, refurbishment budget or complete fee information.