The Meadows, Drury Lane, Crewe, Cheshire, CW1 4PN

Description

Current 2/3 Bedroom Detached Bungalow with development opportunity, set on a 1.7 acre plot with potential to gain planning for two more dwellings either side of the current bungalow. Currently being sold vacant. The property has gardens wrapping around it, a detached double garage, large driveway and two other garden/field areas to the left and right. No appliances have been tested by Auction House and measurements are approximate.

Accommodation

Large entrance hall, lounge with conservatory, dining room/3rd bedroom, two double bedrooms, bathroom, kitchen, snug area and utility room.

Location

Located just outside of Crewe, opposite a new 60 acre solar farm.

Tenure / Property Information

Investment Analysis

The only supplied comparable is a £263,000 detached freehold sale from July 2002, which is too historic to support a current market value. The £350,000 guide is an auction guide, not a valuation. Current GDV, development land value and resale value cannot be reliably established without current comparables, planning evidence and inspection information.

Investment Snapshot

Strategy Recommendation

Proceed only after full legal, physical and planning due diligence. On the supplied evidence, treat this primarily as a vacant bungalow purchase with unverified development potential, rather than underwriting the two additional dwellings or a flip profit.

Works Required

No specific refurbishment defects or works are evidenced. Allow for inspection, testing of appliances and services, EPC-related review, general maintenance assessment and professional planning advice regarding the potential for two additional dwellings.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because no current GDV, refurbishment budget or refinance valuation is supported. The stated development opportunity is conditional on obtaining planning for two further dwellings, and no planning consent or costs are supplied. The £3,600 buyer and admin charges are payable on exchange, with possible additional disbursements.

Buy-to-Let Analysis

The supplied advertised asking rent is £1,050 pcm, implying £12,600 annual gross rent and a 3.6% gross yield against the £350,000 guide. This is an asking rent rather than achieved rent, and no allowance is made for finance, maintenance, voids, management, insurance, tax or the £3,600 stated buyer and admin charges. The BTL case is therefore only indicative and cannot be fully underwritten from the evidence.

Flip Analysis

A flip surplus cannot be calculated. The only comparable is from 2002 and does not support a current resale value, while refurbishment requirements, selling costs and any development value are unknown. Development potential should not be treated as value until planning is secured and costs are evidenced.

Investor Risks & Due Diligence

• Planning permission for the two proposed additional dwellings is not confirmed.

• The sole comparable sale dates from 2002 and cannot reliably establish current value.

• Property condition and appliance operation are not confirmed; measurements are approximate.

• EPC rating is E.

• The £1,800 buyer premium and £1,800 admin charge are payable on exchange, with possible additional disbursements and other legal or seller-related costs.

• The £1,050 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The property is opposite a new 60-acre solar farm, which may affect marketability or buyer demand but has not been independently assessed.

Recommendation

Proceed only after full legal, physical and planning due diligence. On the supplied evidence, treat this primarily as a vacant bungalow purchase with unverified development potential, rather than underwriting the two additional dwellings or a flip profit.

Strategy Rating

Analysis Confidence

Evidence includes only one historic comparable, one advertised rent, no current valuation evidence, no confirmed planning, no condition survey, no refurbishment budget and no complete cost schedule.