The Boat House, 7 South Fen Road, Bourne, Lincolnshire

Description

Three bedroom detached house in a rural location. Formally The Boat Inn until the 1970s, this three bedroom detached house is situated in a rural location approximately 10 minutes from Bourne, occupying a 0.41 acre plot. The property requires full modernisation and offers potential for improvement and further development, subject to the necessary consents.

Accommodation

Ground floor: entrance porch, sitting room, dining room, lounge with a log burner, kitchen, pantry, utility room, conservatory and bathroom. First floor: three bedrooms, two of which benefit from en-suite facilities. Listed accommodation also includes a landing, storage and Bedroom One with En-Suite and Bedroom Three with En-Suite.

Location

Rural location approximately 10 minutes from Bourne, Lincolnshire. W3W Location: ///motivator.shortcuts.cunning

Tenure / Property Information

Tenure	Freehold
EPC	Current Rating F
Council Tax	Band C
Parking	Extensive parking
Heating	Log burner in the lounge
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

Indicative GDV is based only on the supplied same-road sold evidence. The closest and highest-value cited sale is £254,000 in July 2019; other same-road sales range from £115,000 to £290,000 but are older and property differences are not supplied. A £254,000 base GDV is therefore indicative only, not a current formal valuation. The property requires full modernisation, and its 0.41-acre plot may offer improvement or further development potential subject to consents, but no planning or development evidence is provided.

Investment Snapshot

Guide Price	£180,000 - £200,000 (plus fees)
HB Estimated GDV	£254,000
Estimated Monthly Rent	£1,000 pcm
Estimated Annual Rent	£12,000 pa
Gross Yield on Guide	6.7%

Strategy Recommendation

Proceed only after legal, planning, structural and refurbishment-cost due diligence. Treat as a refurbishment-led purchase rather than relying on the headline rental yield; a firm bid limit cannot be supported from the supplied evidence.

Works Required

Full modernisation based on the description, with assessment and improvement of the existing EPC F rating. Review the accommodation, services and outbuildings/plot potential as part of due diligence. Any further development would be subject to the necessary consents. No quantified works schedule or cost evidence is supplied.

Rental & Market Context

HB Estimated Market Rent

£1,000 pcm

Property to rent in South Fen Road, Bourne PE10 — 3 bed — — Advertised asking rent

£1,000 pcm

Sold Comparables

The following completed sales were identified within approximately 5 miles:

5, South Fen Road, Bourne, South Kesteven, Pe10 0dn 2019-07-17 · Detached · Freehold	£254,000
River Lodge, South Fen Road, Bourne, South Kesteven, Pe10 0dn 2011-04-26 · Detached · Freehold	£167,000
Plot 5, South Fen Road, Bourne, Bourne, South Kesteven, Pe10 0dn 2007-11-01 · Detached · Freehold	£290,000
Glen Cottage, South Fen Road, Bourne, Bourne, South Kesteven, Pe10 0dn 2007-01-11 · Detached · Freehold	£115,000
Glen Cottage, South Fen Road, Bourne, Bourne, South Kesteven, Pe10 0dn 2003-10-10 · Detached · Freehold	£92,000

Potential BRRR Position

Base GDV	£254,000
75% Refinance	£190,500

At the indicative £254,000 GDV, 75% refinance would be approximately £190,500. However, refurbishment costs, total acquisition costs, finance costs and the property’s post-works valuation are not sufficiently evidenced, so cash left in and project viability cannot be reliably calculated.

Buy-to-Let Analysis

The supplied rental listing indicates an advertised asking rent of £1,000 pcm, equivalent to £12,000 annually; no achieved rent or auctioneer estimate is provided. Against the £180,000 lower guide, this equates to an indicative 6.67% gross yield before finance, works, taxes and operating costs. Full modernisation and the unknown refurbishment budget prevent a reliable net return assessment.

Flip Analysis

A potential flip case exists because the property is described as requiring full modernisation and the supplied same-road sales include £254,000 and £290,000 transactions. However, no refurbishment budget, finance cost, selling allowance or current comparable evidence is supplied, so an estimated flip surplus cannot be calculated reliably.

Investor Risks & Due Diligence

• Full modernisation is required, but no quantified refurbishment budget is supplied.

• The EPC is rated F, with no evidence of the upgrades required or their cost.

• Further development potential is expressly subject to necessary consents; no planning evidence is supplied.

• The £1,000 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The sold comparables are dated and their size, condition and plot characteristics are not supplied.

• Special conditions may create additional disbursements, search fees, seller-cost reimbursement, legal fees or transfer fees.

• The buyer premium and admin charge total £2,400, while other legal-pack charges remain unknown.

Recommendation

Proceed only after legal, planning, structural and refurbishment-cost due diligence. Treat as a refurbishment-led purchase rather than relying on the headline rental yield; a firm bid limit cannot be supported from the supplied evidence.

Strategy Rating

HB Rating

★★☆☆☆

Analysis Confidence

Confidence

Low-Medium

The evidence includes tenure, description, one asking-rent listing, dated same-road sales and known buyer/admin charges, but lacks a quantified works schedule, current comparable sales, planning information, finance assumptions and legal-pack disbursements.