2 Bed Flat, Refurb/BRRR, Warminster, BA12 8PS, £60,000

Flat, 11 Silver Street, Warminster, Wiltshire BA12 8PS - 3 months ago

Sold STC

Leasehold

Auction

Refurb/BRRR

ROI: 4%

~68 m²

+4 photos

ValuationFair Value

Sold Prices	£120K - £170K
Sold Prices/m²	£1.8K/m² - £3.1K/m²

Square Metres	~68.11 m²
Price/m²	£881/m²
Value Estimate	£60,000£60,000

End Value (After Refurb)	£155,682£155,682
Uplift in Value	+159%+159%
You could potentially get back more cash than you put into this deal. All your cash out plus £21,463 extra. See the breakdown

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£15,000£15,000
Stamp Duty & Legal Fees	£4,200£4,200
Refurb Costs	£27,773£27,773
Bridging Loan Interest	£1,575£1,575
Total Cash In	£50,298£50,298

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£155,682£155,682
Agent Fees (1%)	£1,557£1,557
Bridging Loan	£45,000£45,000
Bridging Loan Interest	£1,575£1,575
Flip Profit	£58,827£58,827

Local Sold Prices

18 sold prices from £120K to £170K, average is £140.7K. £1.8K/m² to £3.1K/m², average is £2.6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£125K	06/22	0 mi	3b, Silver Street, Warminster, Wiltshire BA12 8PS	£2,829	44	2	Flat
£170K	06/23	0.11 mi	17, Old Were Court, Warminster, Wiltshire BA12 8FG	£2,615	65	2	Flat
£130K	03/21	0.11 mi	8, Old Were Court, Warminster, Wiltshire BA12 8FG	£2,766	47	2	Flat
£163.5K	09/23	0.11 mi	18, Old Were Court, Warminster, Wiltshire BA12 8FG	£3,144	52	2	Flat
£148K	08/22	0.25 mi	Flat 1, Shaftesbury House, Weymouth Street, Warminster, Wiltshire BA12 9NP	-	-	2	Flat
£141.5K	12/20	0.25 mi	27, Pound Street, Warminster, Wiltshire BA12 8NL	£2,775	51	2	Flat
£139.9K	05/22	0.42 mi	Flat 63, Homeminster House, Station Road, Warminster, Wiltshire BA12 9BP	-	-	2	Flat
£168K	11/22	0.46 mi	40, Camellia Drive, Warminster, Wiltshire BA12 7RP	£2,507	67	2	Flat
£127K	04/23	0.46 mi	11, Buttons Yard, Warminster, Wiltshire BA12 9NZ	£2,913	44	2	Flat
£122K	08/23	0.46 mi	9, Buttons Yard, Warminster, Wiltshire BA12 9NZ	£2,309	53	2	Flat
£148K	05/23	0.46 mi	55, Camellia Drive, Warminster, Wiltshire BA12 7RR	£2,000	74	2	Flat
£141.5K	01/23	0.56 mi	6, Chalfield Close, Warminster, Wiltshire BA12 8PR	£2,948	48	2	Flat
£126K	10/20	0.61 mi	26, Imberwood Close, Warminster, Wiltshire BA12 9DZ	£1,826	69	2	Flat
£127K	06/21	0.61 mi	27, Imberwood Close, Warminster, Wiltshire BA12 9DZ	-	-	2	Flat
£143K	08/23	0.61 mi	24, Imberwood Close, Warminster, Wiltshire BA12 9DZ	£2,388	60	2	Flat
£144.1K	10/22	0.72 mi	32, Swaledale Road, Warminster, Wiltshire BA12 8FJ	£2,540	57	2	Flat
£130K	05/22	0.73 mi	30, Swaledale Road, Warminster, Wiltshire BA12 8FJ	£2,291	57	2	Flat
£120K	09/21	0.8 mi	Flat 4, Prestbury Court, Prestbury Drive, Warminster, Wiltshire BA12 9LB	-	-	2	Flat

Local Rents

12 rents from £750/mo to £975/mo, average is £875/mo.

Rent	Date	Distance	Address	Beds	Type
£850	12/24	0.01 mi	Silver Street, Warminster, Wiltshire, BA12	2	Flat
£895	01/25	0.13 mi	-	2	Bungalow
£750	12/23	0.19 mi	-	2	Bungalow
£975	06/24	0.19 mi	-	2	Terraced House
£950	10/23	0.25 mi	-	2	Terraced House
£750	12/24	0.29 mi	Market Place, Warminster	2	Flat
£925	12/24	0.36 mi	West Street, Warminster	2	Terraced House
£800	12/24	0.46 mi	-	2	Flat
£925	12/24	0.55 mi	Imber Road, Warminster	2	Flat
£875	11/23	0.58 mi	-	2	Terraced House
£875	11/23	0.58 mi	-	2	Terraced House
£775	12/24	0.58 mi	Imber Road, Warminster	2	Flat

Local Area Statistics

Population in BA12	28,53728,537
Town centre distance	0.13 miles away0.13 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.45 miles away0.45 miles away

Rental growth (12m)	-16%-16%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+14%+14%

Property History

Price changed to £60,000

January 27, 2025

Listed for £70,000

January 14, 2025

Floor Plans

Description

Current EPC Rating: TBC +
For Sale By Unconditional Livestream Auction Tuesday 11th February 2025 at 14:00 +
Two Bedroom Apartment +
In Need of Modernisation Throughout +
Legal Pack Available to Download Free of Charge from Our Website +
See Additional Fee Note +

*SOLD IN OUR LIVESTREAM AUCTION - SIMILAR PROPERTIES REQUIRED***Guide Price £60,000 (plus fees). Two bedroom flat arranged over three floors, two reception rooms, prominent High Street position. Legal pack available to download free of charge from our website. Flat Arranged Over Three Floors in Need of Modernisation Offering to auction, this two bedroom flat set over three floors. The accommodation comprises an entrance hall, living room, dining room, kitchen, shower room and two bedrooms.

The market town of Warminster has a good range of shopping and day-to-day facilities. Bath and Salisbury are both within easy driving distance, offering a much wider selection of amenities together with shopping centres. This area has become particularly sought after because of the exceptional number of good schools. AUCTIONEERS NOTE: FLAT SIZE Please note that the flat is approximately 1500 square foot and 139 square meters.
ACCOMMODATION GROUND FLOOR
Entrance Hall

FIRST FLOOR
Dining Room: 11'8" x 10'4"
Living Room: 15'4" x 13'5"
Kitchen: 9'5" x 8'4"
Shower Room: 6'7" x 5'4"

SECOND FLOOR
Bedroom One: 14'3" x 12'6"
Bedroom Two: 11'4" x 10'5"
VIEWINGS Regular block viewing sessions will be provided in the lead up to the auction. Please telephone Auction House South West on to request a viewing.
FULL DETAILS Photographs, Dimensions, Floor Plans and Area Measurements (when available) are included within the full property details, online, via our website. All published information is to aid identification of the property and is not necessarily to scale.
NOTICE TO BIDDER Please be aware that if your Bid is successful on Auction day the exchange of contracts will happen immediately after the Auction. Tenure: Leasehold EPC Rating: TBC Administration Fee: £1200 inc VAT payable on exchange of contracts. Buyer's Premium Fee: £500 inc VAT payable on exchange of contracts. Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Agent Details

Auction House, South West

01752 741383

Next Steps?

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