Sycamore Barn & Land, Church Lane, Dereham, Norfolk, NR20 3JW

Description

An opportunity to acquire a detached single storey barn that is located within the fringe of East Tuddenham village. The property has been in the same ownership for many years and has been partially renovated and currently offers open plan living/dining, kitchen, utility room, four bedrooms, bathroom and separate W.C, all these rooms do require completing. The site extends to approximately 4 acres subject to measured survey and boasts numerous barns and outbuildings. Interested parties should contact Breckland District Council to make their own enquires regarding further development. Located approximately 10 miles west of Norwich City Centre the address offers access to local amenities, Long Water Retail Park, the Southern Bypass and soon to be completed Northern Distributor Road.

Accommodation

Ground Floor: Open plan lounge/dining area, kitchen, utility room, rear hall, cloakroom, four bedrooms, bathroom. External: Two gated entrances access the site, gravel driveway leads to the property, numerous barns and outbuildings. Site extends to approximately 3.92 acres stms.

Location

In the popular Norfolk village of East Tuddenham, approximately 10 miles west of Norwich City Centre, with access to local amenities, Long Water Retail Park, the Southern Bypass and soon to be completed Northern Distributor Road.

Tenure / Property Information

Investment Analysis

The £300,000 guide is not independently supported by the supplied evidence. The only sale comparable is a detached freehold property at the same address area sold for £116,000 in 2015, but no size, condition, land or specification is provided and it is too historic to establish current GDV. The subject is partially renovated, includes approximately 3.92 acres subject to measured survey, and has numerous barns and outbuildings, with potential further development expressly requiring council enquiries. A current market value, GDV and maximum bid cannot therefore be reliably calculated.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain a measured survey, building and services assessment, detailed completion quotation, current valuation, and written planning advice for the land and outbuildings before considering the lot.

Works Required

Complete the partially renovated accommodation, including the open-plan living/dining area, kitchen, utility room, four bedrooms, bathroom, separate WC and associated internal finishes. The evidence does not specify the required construction, services, heating or external works, so no reliable works allowance can be given.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable because there is no evidenced GDV, refurbishment budget, completed-property rent, finance cost or reliable valuation. Refinance at 75% of GDV cannot be calculated. Planning and development potential for the land and outbuildings remains unconfirmed.

Buy-to-Let Analysis

BTL feasibility cannot be established. The £900 pcm figure is an advertised asking rent for four-bedroom houses in Dereham, not an achieved rent and not confirmed for this incomplete barn. The property currently requires completion and no refurbishment, finance, operating or compliance costs are supplied.

Flip Analysis

A flip surplus cannot be calculated. The property requires completion, the 2015 comparable is insufficient for current valuation, and no supported works budget, resale GDV or selling allowance is available. The approximately 3.92-acre site and outbuildings may materially affect value, but development potential is unconfirmed.

Investor Risks & Due Diligence

• Partially renovated accommodation requires completion, but the scope and cost of works are not supplied.

• The site area is approximately 3.92 acres subject to measured survey.

• Further development of the land, barns and outbuildings is unconfirmed and requires enquiries with Breckland District Council.

• EPC, heating and parking information is not confirmed.

• The seller may charge additional completion fees under the Special Conditions of Sale, which have not been supplied.

• The £1,800 inclusive-of-VAT contract documentation fee is payable by the buyer.

• The supplied rental evidence is an advertised asking rent and is not confirmed for this incomplete property.

Recommendation

Do not bid on the supplied evidence alone. Obtain a measured survey, building and services assessment, detailed completion quotation, current valuation, and written planning advice for the land and outbuildings before considering the lot.

Strategy Rating

Analysis Confidence

Evidence is insufficient for current GDV, works cost, rent, planning value or resale analysis. The only sale comparable is from 2015, the property is incomplete, and key technical and special-condition information is unavailable.