The Rockies, School Lane, Takeley, Bishop's Stortford

Description

A Detached Double Fronted Chalet Bungalow on a Substantial Plot of Land of approximately 2 Acres requiring modernisation, with planning permission granted for subdivision of the existing site and construction of a detached chalet style bungalow, and planning permission granted for an infill rear extension.

Accommodation

First Floor: Bedroom (One), Bedroom (Two), Shower Room/WC. Ground Floor: Entrance Hall, Living Room, Kitchen, Bedroom (Three), Bedroom (Four), Bathroom/WC, Boiler Room, External WC. Double Garage, Three Stables, Driveway Providing Off-Street Parking, Front, Side & Rear Gardens.

Location

Situated off Mole Hill Green, close to local shopping facilities and a short drive from the amenities available in Bishop's Stortford Town Centre including Bishop's Stortford Train Station. London Stansted Airport is also nearby.

Tenure / Property Information

Investment Analysis

The five supplied same-street completed sales range from £320,000 to £775,000, with a median of £545,000 and an average of £537,600. The evidence is mixed in date, value and property detail, and does not quantify the impact of the granted subdivision or rear-extension permissions. An indicative base GDV of £545,000 is therefore used, with a cautious evidence-based range of £485,000 to £775,000. This is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only as a planning-led refurbishment or owner-occupier opportunity after reviewing the full planning permissions, inspecting the property and obtaining a detailed works budget. Do not rely on the indicative GDV or asking-rent yield to justify a bid.

Works Required

Modernisation of the existing chalet bungalow is required, but the supplied evidence does not specify the building works, services, finishes or structural condition. The granted rear-extension and subdivision permissions should be reviewed and costed before bidding; no allowance is made for unquantified works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £475,000 guide, the stated £1,500 buyer premium brings the known purchase cost to £476,500 before works and any seller charges. A 75% refinance against the indicative £545,000 base GDV would be £408,750. Total project cost and cash left in cannot be calculated because refurbishment and other completion costs are unsupported. The strategy depends on confirming the planning permissions, achievable GDV and works budget.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,000 pcm for four-bedroom properties in Uttlesford, equivalent to £24,000 annually. Against the £475,000 guide, this indicates approximately 5.05% gross yield; against the £545,000 base GDV, it is approximately 4.4%. Net yield cannot be established because refurbishment, finance, maintenance, management, insurance and other costs are not supplied.

Flip Analysis

A resale assessment is constrained by the absence of a refurbishment budget, detailed planning information, selling costs and a supported post-works valuation. The supplied comparable range supports an indicative base GDV of £545,000, but no reliable flip surplus can be calculated.

Investor Risks & Due Diligence

• The property requires modernisation, but no quantified refurbishment budget is available.

• The financial impact, deliverability and detailed scope of the subdivision and rear-extension permissions are not supplied.

• The GDV range is based on materially varied same-street sales with limited property detail and different completion dates.

• The £2,000 pcm figure is an advertised asking rent rather than achieved rent.

• EPC is listed as TBC, and seller charges may be payable under the special conditions.

• The buyer must pay the balance of the 10% deposit, subject to the stated minimum, and the buyer fee within 24 hours of the auction date.

Recommendation

Proceed only as a planning-led refurbishment or owner-occupier opportunity after reviewing the full planning permissions, inspecting the property and obtaining a detailed works budget. Do not rely on the indicative GDV or asking-rent yield to justify a bid.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and one rental listing, but the comparables vary materially, are not current, and lack size and condition detail. Works costs, planning particulars, EPC, seller charges and post-works value are not supplied.