Valdona, Church Road, Wreningham, Norwich, Norfolk NR16 1BA

Description

Two bedroom detached bungalow of non standard construction on generous plot. The bungalow extends to around 77 sq/m and occupies a good size 0.16 acre (stms) plot. It has been in the same ownership for many years and is to be sold with vacant possession. It requires refurbishment or replacement, subject to the necessary consents being obtained. Ideal project for a builder or investor. On instruction of an executor.

Accommodation

Ground floor: entrance hall, two bedrooms, kitchen, bathroom and conservatory. Outside: front and rear garden in need of attention, garage and workshop, and off road parking.

Location

Located around four miles south east of Wymondham.

Tenure / Property Information

Investment Analysis

The only directly relevant evidence is a £300,000 detached freehold sale on Church Road in December 2024. Other same-road detached sales range from £525,000 to £830,000, but their size, specification, condition and plot details are not supplied and they may not be comparable. A cautious indicative base GDV of £300,000 is used, with £525,000 as an upper evidence-based scenario only. The subject is only 77 sq m, of non-standard construction and requires refurbishment or replacement subject to consent, so the GDV range has low comparability confidence.

Investment Snapshot

Strategy Recommendation

Investigate the legal pack, non-standard construction, planning requirements and a full refurbishment or replacement cost before bidding. Consider only a tightly controlled refurbishment or development-led strategy if costs and consents are verified; do not rely on the apparent GDV or BRRR headroom without that due diligence.

Works Required

Refurbishment or replacement of the bungalow, subject to the necessary consents. The front and rear gardens require attention. The accommodation comprises two bedrooms, kitchen, bathroom and conservatory; no detailed specification of required internal works or structural condition is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the cautious £300,000 base GDV, a 75% refinance is £225,000. The potential refinance headroom is significant relative to the guide, but cash left in cannot be calculated because refurbishment, finance, selling/refinance and other project costs are not supplied. Non-standard construction and the possible need for replacement or consents materially increase uncertainty.

Buy-to-Let Analysis

At the £120,000–£140,000 guide range, the single advertised asking rent of £1,100 pcm implies approximately 9.43%–11.00% gross yield before works, finance, operating costs and auction fees. This is asking-rent evidence rather than achieved rent. Total-cost yield cannot be established because refurbishment costs and any legal-pack disbursements are unknown.

Flip Analysis

A £300,000 base GDV is supported only by the lowest supplied same-road detached sale and is not a formal valuation. The £525,000 high scenario reflects another same-road detached sale but lacks comparable size, condition and specification evidence. Flip surplus cannot be calculated because works, finance, selling costs and legal-pack disbursements are unknown.

Investor Risks & Due Diligence

• Non-standard construction may affect mortgageability, valuation and resale.

• The bungalow requires refurbishment or replacement, with the scope and cost not supplied.

• Replacement or refurbishment is subject to the necessary consents, which have not been evidenced.

• Same-road sold comparables vary substantially and lack size, specification and condition details.

• The £1,100 pcm figure is an advertised asking rent, not achieved rent or a passing tenancy.

• Buyer premium and admin charge total £2,160, while legal-pack disbursements and other charges remain unknown.

• The property is vacant and requires attention to the gardens, with no detailed condition survey supplied.

Recommendation

Investigate the legal pack, non-standard construction, planning requirements and a full refurbishment or replacement cost before bidding. Consider only a tightly controlled refurbishment or development-led strategy if costs and consents are verified; do not rely on the apparent GDV or BRRR headroom without that due diligence.

Strategy Rating

Analysis Confidence

There is useful same-road completed-sale evidence, a stated asking rent and clear property particulars, but no comparable property sizes or conditions, no works budget, no planning or structural evidence, and potentially material additional auction costs are unknown.