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Venn Green, Milton Damerel, EX22 7NP
2 Bed Detached Bungalow – Milton Damerel
Venn Green, Milton Damerel, EX22 7NP
Sold STC
£100,000+
- Detached two-bedroom bungalow near popular market town of Holsworthy
- Excellent renovation project with scope to add value
- Full refurbishment required
- EPC—G
Description
A rare and exciting opportunity to acquire a detached two-bedroom bungalow in Venn Green, offering significant scope for refurbishment or redevelopment (subject to any necessary consents). The property occupies a roadside position and comprises two bedrooms, a generous reception room with attractive stone fireplace, kitchen, bathroom and separate WC. Externally there is a former veranda, detached garage and a good-sized garden with road access. The property and grounds require complete renovation throughout.
Accommodation
| Bedrooms | 2 |
| Bathrooms | 1 |
Location
Kivells describes the property as being in Venn Green, Milton Damerel, EX22. The location context and accessibility should be verified by the buyer before bidding.
Tenure
| Approx. size | 789 sq ft (73 sq m) |
| EPC | G / source text also shows TBC in one section |
| Council Tax | C |
| Tenure | Freehold |
| Services | Mains electricity and water; private drainage. |
Auction Information
| Auction date | 2026-05-27 at 7:00pm |
| Guide price | £100,000 Guide Price |
| Buyer’s administration fee | £2,000 + VAT (£2,400 inc VAT) |
| Status | Sold STC / treated as Sold Prior for HB import |
| Source | Kivells individual property particulars |
Investment Analysis
The figures below are HB desktop estimates for screening purposes, not valuations or quotations. They use the Kivells guide price and property particulars together with current local market evidence where available. A survey, legal-pack review, contractor pricing and local agent appraisal are required before bidding.
Investment Snapshot
| Guide Price | £100,000 |
| Approx Size | 789 sq ft (73 sq m) |
| Refurbishment Budget | £80,000 HB desktop allowance |
| Purchase + Works | £180,000 |
| Estimated Total Project Cost | £187,900 before SDLT |
| Low / Base / High GDV | £185,000 / £220,000 / £250,000 |
| Estimated Private Rent | £900 pcm |
| Potential Annual Rent | £10,800 pa |
| Gross Yield – Purchase | 10.8% |
| Gross Yield – Purchase + Works | 6.0% |
| Gross Yield – Total Project Cost | 5.7% |
| 75% Refinance | £165,000 |
| Capital Left In | £22,900 |
| Estimated Flip Surplus | £32,100 before tax/SDLT/selling costs |
| Suggested Strategy | Full refurbishment / resale |
| Main Risk | Japanese knotweed note, EPC G and comprehensive works |
Market Comparables
| Venn Green – subject | £100,000 guide — Full-renovation auction benchmark |
| Holsworthy / EX22 2-bed bungalow market | Desktop range c.£185k–£250k — Condition/location dependent |
| Kingswood Meadow, Holsworthy – 3 bed bungalow | £275,000 asking — Larger local bungalow; upper context |
Comparable prices above are marketed/guide figures unless explicitly described as sold. They are screening evidence, not a formal valuation.
Proposed Works
| Strip-out / enabling / clearance | £6,400 |
| Roof / structure / damp / envelope | £16,000 |
| Electrical & plumbing / heating | £14,400 |
| Kitchen & bathrooms | £13,600 |
| Internal finishes / joinery | £12,000 |
| External / drainage / landscaping | £6,400 |
| Contingency | £11,200 |
Rental Value
| Holsworthy/EX22 rental context | c.£850–£1,000 pcm desktop screening |
| HB base rent | £900 pcm desktop estimate |
Rental comparables are advertised rents unless otherwise stated; achieved rent may differ.
Low / Base / High Investment Scenario
| Low | GDV £185,000; downside case after works and acquisition costs. |
| Base | GDV £220,000; screening case used for refinance/flip calculations. |
| High | GDV £250,000; requires strong finish and supportive local demand. |
BTL Analysis
| Base monthly rent | £900 |
| Annual rent | £10,800 |
| Gross yield on guide | 10.8% |
| Gross yield on total project cost | 5.7% |
BRRR Analysis
| Base GDV | £220,000 |
| 75% refinance | £165,000 |
| Estimated total project cost | £187,900 |
| Indicative capital left in | £22,900 |
Flip Analysis
| Base GDV | £220,000 |
| Estimated total project cost | £187,900 |
| Indicative surplus | £32,100 |
| Important | Surplus excludes SDLT, tax and selling costs and is not net profit. |
Maximum Bid Indicator
| Base GDV | £220,000 |
| Target developer margin | 15% of GDV |
| Works allowance | £80,000 |
| Known buyer admin fee | £2,400 inc VAT |
| Other legal / finance / holding allowance | £5,500 desktop allowance |
| Indicative maximum bid | £99,100 |
| SDLT | Buyer-specific and deliberately excluded; deduct applicable SDLT from the maximum bid. |
Strategy Recommendation
Full refurbishment / resale. The investment case is highly sensitive to the actual condition, legal pack and achieved end value/rent.
Strategy Rating
| Refurbishment / value-add | ★★★★☆ |
| Long-term rental | ★★★☆☆ |
| Flip / resale | ★★★☆☆ |
Key Risks
- Kivells notes possible Japanese knotweed; specialist inspection is required.
- Japanese knotweed note, EPC G and comprehensive works
- Auction purchase is legally binding; review the legal pack and all seller charges before bidding.
- Desktop GDV/rent/works assumptions require independent verification.
Analysis Confidence
Medium for source facts; low-to-medium for desktop investment estimates until survey, legal pack, contractor quotes and local agent appraisal are obtained.
Auction Details :
Kivells
Auction Date :
27/05/26
Lot Number :
008
Property Location:
Venn Green, Milton Damerel, EX22 7NP
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