The Courtyard Flat, Unit 4, Melton Park, Melton Constable, Norfolk

Description

Vacant leasehold self-contained ground floor flat situated within a Grade II* Listed Building. By Order of Receivers.

Accommodation

Reception Room, Bedroom, Kitchen, Bathroom. GIA (Source: EPC) approximately 84 sq m (904 sq ft).

Location

The property is situated in Melton Park. Shops and amenities are available in nearby villages, including Melton Constable and Briston. Sheringham station is 11.9 miles to the north east. The A148 is to the north and the A140 is to the east. Swanton Novers National Nature Reserve is close by.

Tenure / Property Information

Investment Analysis

The only supplied comparable is a £250,000 leasehold flat sale at Melton Hall in May 2005. It is materially historic and lacks sufficient detail to establish a current GDV for this 84 sq m Grade II* listed flat. The £185,000+ guide is not a formal valuation. No reliable rental, condition, works, buyer-fee or admin-fee evidence is supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain current local valuation and rental evidence, inspect condition, confirm lease and service-charge liabilities, and establish all auction and seller charges before considering purchase.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow only for inspection-led works, subject to Grade II* listed-building restrictions and any required consents; no numeric works allowance is supportable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a supported current GDV, rent, refurbishment budget and known acquisition costs. The long lease is positive in duration terms, but the Grade II* listing may restrict alterations and refinancing due diligence is required.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. The flat is vacant and has £100 per annum ground rent, but other operating and acquisition costs are unknown.

Flip Analysis

A flip assessment cannot be completed reliably. The sole comparable is from 2005, no current GDV evidence or works budget is supplied, and no selling-cost allowance is supported.

Investor Risks & Due Diligence

• Grade II* listed status may restrict alterations and require specialist consents.

• Current market value is unsupported by sufficiently recent or detailed comparable evidence.

• No reliable rental evidence is available, so income yield cannot be calculated.

• Vacant possession means there is no evidenced passing rent.

• Leasehold liabilities beyond the stated £100 annual ground rent, including service charges, are not supplied.

• Additional seller or third-party charges may apply.

• Condition and required works are not evidenced.

Recommendation

Do not bid on the supplied evidence alone. Obtain current local valuation and rental evidence, inspect condition, confirm lease and service-charge liabilities, and establish all auction and seller charges before considering purchase.

Strategy Rating

Analysis Confidence

Evidence is limited to one materially historic comparable, with no current rent, condition, refurbishment, service-charge, buyer-fee or admin-fee information.