Vercot, Cromer Road, Felmingham, North Walsham, Norfolk NR28 0JS

Description

Substantial five bedroom detached house in need of updating and redecoration. Set in almost half an acre with views over open farmland, this impressive detached two storey house offers spacious and highly adaptable accommodation, together with considerable potential for improvement and modernisation. The property provides three reception rooms, a large kitchen and conservatory on the ground floor, with five bedrooms and two bathrooms arranged over the first floor. The house would now benefit from a programme of general updating and modernisation, it retains excellent proportions and offers an exciting opportunity for a purchaser to create a substantial and individual family home. Outside, the property occupies a generous plot extending to almost half an acre, providing extensive gardens and grounds together with an integral double garage and further brick outbuilding.

Accommodation

Ground Floor: Hall, cloakroom, sitting room, lounge, dining room, conservatory, kitchen/breakfast room, utility. First Floor: Landing, four bedrooms, two bathrooms (one with en-suite). Second staircase to landing and to bedroom five.

Location

Set in almost half an acre with views over open farmland.

Tenure / Property Information

Tenure	Freehold
EPC	Current Rating E
Council Tax	Band E
Parking	Ample parking; integral double garage.
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

The only supplied completed comparable is Sebring, a different detached freehold property on Cromer Road in the same postcode, sold for £475,000 in July 2022. This provides a useful but limited market benchmark rather than a formal valuation. Vercot is described as a substantial five-bedroom detached house on almost half an acre, but its updating and modernisation requirement, together with the age of the comparable, creates material valuation uncertainty.

Investment Snapshot

Guide Price	£350,000 (plus fees)
HB Estimated GDV	£475,000

Strategy Recommendation

Do not bid without a full inspection, refurbishment quotation and legal-pack cost review. On the supplied evidence, this is more suitable for a purchaser seeking a substantial modernisation project than for a yield-led BTL strategy.

Works Required

General updating, redecoration and modernisation as supported by the description. The evidence does not quantify the works, identify specific defects or support a refurbishment budget.

Rental & Market Context

No sufficiently specific external rental comparable identified.

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Sebring, Cromer Road, Felmingham, North Walsham, North Norfolk, Nr28 0js 2022-07-14 · Detached · Freehold	£475,000
Sebring, Cromer Road, Felmingham, North Walsham, North Norfolk, Nr28 0js 1999-06-11 · Detached · Freehold	£83,500
Sebring, Cromer Road, Felmingham, North Walsham, North Norfolk, Nr28 0js 1997-10-17 · Detached · Freehold	£80,000
Sebring, Cromer Road, Felmingham, North Walsham, North Norfolk, Nr28 0js 1996-11-13 · Detached · Freehold	£68,000

Potential BRRR Position

Base GDV	£475,000
75% Refinance	£356,250

Using the supplied comparable as a provisional base GDV gives an indicative 75% refinance figure of £356,250. Total acquisition and refurbishment costs cannot be calculated because the works budget and any legal-pack disbursements are unknown. The known guide price plus buyer premium and admin charge is £351,800 before other costs and works.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is also described as requiring updating and modernisation, with refurbishment costs unknown.

Flip Analysis

A provisional £475,000 GDV benchmark is supported by the supplied 2022 sale of a different detached property on the same road and postcode. A flip surplus cannot be calculated because refurbishment costs, selling costs and legal-pack disbursements are not supplied.

Investor Risks & Due Diligence

• The house requires updating, redecoration and modernisation, but the scope and cost are unknown.

• The only supplied comparable is a different property, with the sale completing in 2022.

• No sufficiently specific rental evidence or passing rent is available, so rental yield cannot be established.

• Buyer premium and admin charge are payable, with additional legal-pack disbursements and other charges potentially payable.

• The current EPC rating is E.

• No heating information is supplied.

Recommendation

Do not bid without a full inspection, refurbishment quotation and legal-pack cost review. On the supplied evidence, this is more suitable for a purchaser seeking a substantial modernisation project than for a yield-led BTL strategy.

Strategy Rating

HB Rating

★★☆☆☆

Analysis Confidence

Confidence

Low-Medium

The property description, tenure, guide and known auction charges are supplied, but there is no property-specific completed comparable, rental evidence, quantified works budget or complete cost schedule. The GDV is only a provisional benchmark from a different property sold in 2022.