2 Bed Detached House, Refurb/BRRR, Warminster, BA12 6JB, £300,000

Castle Hill Lane, Mere, Warminster, BA12 6JB - 1 views - 7 months ago

Auction
Refurb/BRRR
Planning
~68 m²
+11 photos

ValuationOvervalued

Sold Prices£160K - £375K
Sold Prices/m²£2.1K/m² - £5.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.4K/m²

Value Estimate

£225,932

 

 

End Value (After Refurb)

£270,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£75,000

Stamp Duty & Legal Fees

£21,200

Refurb Costs

£27,773

Bridging Loan Interest

£7,875

Total Cash In

£133,598

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£270,000

Mortgage (After Refinance)

£202,500

Mortgage LTV

75%

Cash Left In

£133,598

Equity

£67,500

Rent Range

£600 - £1,400

Rent Estimate

£1,006

Running Costs/mo

£1,065

Cashflow/mo

£-59

Cashflow/yr

£-707

Gross Yield

4%

Local Sold Prices

21 sold prices from £160K to £375K, average is £220K. £2.1K/m² to £5.7K/m², average is £3.4K/m².

PriceDateDistanceAddressBeds 
£207.5K01/210 mi2, Castle Hill Lane, Mere, Warminster, Wiltshire BA12 6JB2
£185K11/230 miMagpie Cottage, Castle Hill Lane, Mere, Warminster, Wiltshire BA12 6JB2
£182.5K03/210.12 mi1, Grange Cottages, Mere, Warminster, Wiltshire BA12 6HJ2
£261K01/230.13 mi3, Grange Cottages, Mere, Warminster, Wiltshire BA12 6HJ2
£170K02/210.22 miBlackbird Cottage, 1, Salisbury Street, Mere, Warminster, Wiltshire BA12 6HF2
£160K11/230.25 miDownview Cottage, Steep Street, Mere, Warminster, Wiltshire BA12 6ED2
£225K06/210.27 mi3, North Row, Mere, Warminster, Wiltshire BA12 6EJ2
£247K02/210.29 mi14, Underhill, Mere, Warminster, Wiltshire BA12 6LU2
£185K09/230.3 miKnoll View, The Fields, Mere, Warminster, Wiltshire BA12 6EA2
£185K03/210.3 miJasmine Cottage, The Fields, Mere, Warminster, Wiltshire BA12 6EA2
£220K12/230.3 miDrovers Cottage, The Fields, Mere, Warminster, Wiltshire BA12 6EA2
£195K06/210.31 miThe Cottage, Hazzards Hill, Mere, Warminster, Wiltshire BA12 6ER2
£230K10/210.32 mi1, Water Street, Mere, Warminster, Wiltshire BA12 6DZ2
£350K05/230.32 mi1, Water Street, Mere, Warminster, Wiltshire BA12 6DZ2
£210K10/210.33 mi23, Long Hill, Mere, Warminster, Wiltshire BA12 6LR2
£300K09/210.34 miSuncroft, Springfield Road, Mere, Warminster, Wiltshire BA12 6EW2
£210K07/210.42 mi30, White Road, Mere, Warminster, Wiltshire BA12 6EX2
£248K03/210.52 mi18, Lordsmead Road, Mere, Warminster, Wiltshire BA12 6BZ2
£320K01/210.52 mi24, Lordsmead Road, Mere, Warminster, Wiltshire BA12 6BZ2
£330K03/230.52 mi5, Lordsmead Road, Mere, Warminster, Wiltshire BA12 6BZ2
£375K08/230.66 mi17, Whitemarsh, Mere, Warminster, Wiltshire BA12 6BP2

Local Rents

17 rents from £600/mo to £1.4K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£60003/250.01 mi-1
£89503/240.04 mi-2
£1,00404/240.09 mi-3
£80002/240.1 mi-2
£70012/240.12 miThe Square, Mere, Wilts, BA121
£80012/240.13 miCastle Street, Mere, WARMINSTER1
£1,30012/240.15 miBoar Street, Mere, Wiltshire, BA123
£95006/240.15 mi-2
£1,20010/230.15 mi-2
£87503/230.17 mi-2
£95004/230.18 mi-2
£1,10012/240.23 miSalisbury Street, Mere, Wiltshire, BA122
£1,40007/231.02 mi-2
£1,35005/241.02 mi-2
£1,30012/241.99 miBarrow Street, Mere, Warminster, Wiltshire, BA123
£82512/242.14 miHigh Street, BA122
£1,05009/242.44 miFactory Hill, SP82

Local Area Statistics

Population in BA12

28,537

Town centre distance

8.62 miles away

Nearest school

0.40 miles away

Nearest train station

3.93 miles away

 

 

Rental growth (12m)

-16%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Price changed to £300,000

January 23, 2025

Listed for £325,000

September 16, 2024

Floor Plans

Description

  • Sale by Modern Auction (T&Cs apply) +
  • Subject to an undisclosed Reserve Price +
  • Buyers fees apply +
  • Truly Unique in a Prime Village Location. +
  • Driveway Parking. +
  • Completely Renovated and Planning Permission Granted. +
  • Gas Central Heating and Mains Sewerage. +
  • Council Tax Band: B +

SUMMARY
Connells are delighted to welcome you to this fabulous and truly unique property. The property has been completely renovated and is located on a quiet street just outside the centre of the picturesque village of Mere. It has the additional bonus of having planning permission granted over the garage.

DESCRIPTION
Connells are proud to introduce this fabulous and truly unique property to the market. The Rondel is located on a quiet street just outside the centre of the picturesque village of Mere. The property has been completely renovated and reconfigured and has the additional bonus of having planning permission granted to extend even further over and into the single garage. The renovation has created an absolute masterpiece of a property which HAS to be viewed in order to appreciate the sleek, modern aspects which intertwine seamlessly with the property's original character and traditional village location. Call in TODAY!

Auctioneer's Comments 
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.

The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of £300 inc VAT towards the preparation cost of the pack.

The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.

Kitchen/Living/Dining Room  16' 11" max x 24' 2" max ( 5.16m max x 7.37m max )
The spacious open-plan living room features Karndean flooring throughout and benefits from underfloor heating, offering a modern and comfortable living space. It is well-lit with four double glazed windows at the rear and three double glazed windows at the front, along with double glazed French doors leading to the rear. The room also includes a thermostat, and smoke alarm. Modern decoration combined with natural features such as oak window sills and bespoke oak staircase, add a touch of natural elegance.

Kitchen 
The open-plan kitchen includes a range of wall and base units, a sink and drainer and integrated Lenovo appliances such as an induction hob, electric oven, dishwasher, fridge freezer, and microwave.

Utility Room 7' 2" x 3' 8" ( 2.18m x 1.12m )
The utility room has space for a washing machine and a tumble dryer.

First Floor  

Landing 
The landing has a double glazed velux window to the front of the property. It has a radiator, a smoke alarm, a thermostat and integrated storage space. It is carpeted throughout.

Bedroom 1  12' 4" max x 8' 5" max ( 3.76m max x 2.57m max )
The first bedroom has a double glazed Velux window to the rear of the property and a Velux window to the front of the property. It has a radiator, a smoke alarm and integrated storage space.

Bedroom 2  7' 6" max x 8' 5" ( 2.29m max x 2.57m )
The second bedroom has a double glazed velux window to the rear of the property. It has a radiator.

Bathroom 
The part tiled bathroom has a double glazed Velux window to the rear of the property. It has a bath with overflow bath filler and a shower attachment, a WC, a wash hand basin with under sink storage, a medicine cabinet, a heated towel rail and an extractor fan.

Outside 

Front Garden/Driveway 
The front garden features a shared entry leading to a private gravel driveway with space for three cars. While there is a garage, it is not suitable for parking vehicles. Planning permission has been granted to build an extension over the garage.
The garden is set back from the road, providing a spacious area between the road and the driveway, offering added privacy. To the side of the property, there is a large cottage-style flower bed.

Rear Garden  
The rear garden consists of a decked area, a patio, and a lawn, creating a versatile outdoor space. A gravel path leads to a side gate, providing easy side access. There is also a door to the garage and the garden is enclosed by both walls and fences, ensuring privacy from neighbouring properties.

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, Gillingham

01747 445552

Next Steps?

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