Wishing Well Cottage, Sleaford Road, Lincoln, Lincolnshire

Description

By Order of the Mortgagees in Possession. Freehold detached house.

Accommodation

First floor: Five bedrooms, two ensuites, bathroom/wc. Ground floor: Three reception rooms, kitchen, wc. Outside: Garage and gardens.

Location

The property is located on Sleaford Road (A17). Shopping amenities can be found locally within Lincoln City Centre to the north. Public transport links are available at Newark Northgate Train Station to the west and Lincoln Train Station to the north, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A46 and A1 to the west and A15 to the east. Recreational pursuits can be found at Brant Broughton Playing Field to the north.

Tenure / Property Information

Investment Analysis

The £141,000 guide is not independently validated by the supplied evidence. The comparable sales are dated 2002, 2014 and 2016, with materially different prices and no floor areas or detailed specifications. The 2014 and 2016 Sleaford Road comparables are not sufficiently specific or current to support a reliable GDV estimate. Current condition, floor area and heating information are also unavailable.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. First obtain the legal pack and special conditions, inspect the property, verify condition and heating, obtain a current valuation and establish achievable rent.

Works Required

No specific works can be costed from the evidence. The property has an EPC rating of E, while the heating system and overall condition require confirmation. Obtain a full survey, heating inspection and EPC improvement assessment before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a supported current value, refurbishment budget, rent and refinance valuation. The £1,800 inclusive-of-VAT contract documentation fee is known, but potential seller fees and other acquisition costs are not quantified.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Gross yield, operating return and maximum purchase price cannot therefore be calculated.

Flip Analysis

A flip surplus cannot be calculated. The available sold comparables are historic, lack size and specification details, and do not establish a reliable current resale value. Refurbishment costs and selling allowances are also unsupported.

Investor Risks & Due Diligence

• Current condition and required works are unknown.

• EPC rating is E and the cost of any improvement is unknown.

• Heating details are unavailable.

• No sufficiently specific rental evidence is supplied.

• Historic comparable sales are too limited to establish a reliable current market value.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• The property is being sold by order of mortgagees in possession, requiring careful legal-pack and title review.

Recommendation

Do not bid on current evidence alone. First obtain the legal pack and special conditions, inspect the property, verify condition and heating, obtain a current valuation and establish achievable rent.

Strategy Rating

Analysis Confidence

The evidence confirms the basic property description, guide price and one buyer charge, but omits floor area, condition, current valuation evidence, rental evidence, refurbishment costs, heating details and potentially applicable seller fees.