2 Bed Flat, Cash/Bridging Only, Taunton, TA1 3NG, £140,000

Wessex House, Billet Street, Taunton, TA1 3NG - 2 views - 3 months ago

Leasehold
Cash
ROI: 10%
~68 m²
+8 photos

ValuationFair Value

Sold Prices£60K - £340K
Sold Prices/m²£1.1K/m² - £6.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.1K/m²

Value Estimate

£140,000

 

 

End Value (After Refurb)

£167,845

Uplift in Value

+20%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£5,400

Refurb Costs

£27,698

Bridging Loan Interest

£3,675

Total Cash In

£73,523

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£167,845

Mortgage (After Refinance)

£125,884

Mortgage LTV

75%

Cash Released

£20,884

Cash Left In

£52,640

Equity

£41,961

Rent Range

£850 - £2,700

Rent Estimate

£1,465

Running Costs/mo

£838

Cashflow/mo

£627

Cashflow/yr

£7,530

ROI

10%

Gross Yield

13%

Local Sold Prices

51 sold prices from £60K to £340K, average is £148K. £1.1K/m² to £6.8K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£130K10/210.15 mi39, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£150K04/230.15 mi38, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£160K12/230.15 mi44, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£160K12/230.15 mi44, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£112.5K11/200.16 mi10, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£138K03/230.18 mi5, Eastgate Gardens, Taunton, Somerset TA1 1RD2
£295K11/210.19 miFlat 7, Annecy Court, St Josephs Field, Taunton, Somerset TA1 3TE2
£250K02/210.21 miFlat 5, Annecy Court, St Josephs Field, Taunton, Somerset TA1 3TE2
£202.5K03/240.21 miAnnecy Court, Flat 9, St Josephs Field, Taunton, Somerset TA1 3TE2
£120K07/210.21 miFlat 6, Vivary Gate, Upper High Street, Taunton, Somerset TA1 3PX2
£160K05/230.21 miFlat 12, Vivary Gate, Upper High Street, Taunton, Somerset TA1 3PX2
£150K09/230.24 mi9, The Octagon, Taunton, Somerset TA1 1RT2
£165K01/230.25 mi2, The Octagon, Taunton, Somerset TA1 1RT2
£148K03/210.27 mi42b, Laburnum Street, Taunton, Somerset TA1 1LB2
£143K10/230.28 miFlat 8, Trinity Gate, Queen Street, Taunton, Somerset TA1 3DS2
£100K01/230.31 miFlat 1, Portland Grange, Upper High Street, Taunton, Somerset TA1 3PZ2
£105K08/230.31 miFlat 8, Portland Grange, Upper High Street, Taunton, Somerset TA1 3PZ2
£90K12/230.31 miFlat 13, Portland Grange, Upper High Street, Taunton, Somerset TA1 3PZ2
£122K11/210.34 miFlat 28, Beech Court, Tower Street, Taunton, Somerset TA1 4BH2
£90K10/230.34 miFlat 7, Beech Court, Tower Street, Taunton, Somerset TA1 4BH2
£100K10/230.34 miFlat 44, Beech Court, Tower Street, Taunton, Somerset TA1 4BH2
£95K11/230.34 miFlat 43, Beech Court, Tower Street, Taunton, Somerset TA1 4BH2
£155K02/210.42 mi33, Trinity Road, Taunton, Somerset TA1 3JJ2
£120K06/210.42 miFlat 2, Turkey Court, Vivary Road, Taunton, Somerset TA1 3JN2
£130K06/210.43 miFlat 4, Dovetail Court, Park Street, Taunton, Somerset TA1 4DF2
£122K12/200.43 miFlat 8, Dovetail Court, Park Street, Taunton, Somerset TA1 4DF2
£130K03/210.43 miFlat 6, Dovetail Court, Park Street, Taunton, Somerset TA1 4DF2
£105K06/210.43 mi11c, Park Street, Taunton, Somerset TA1 4DF2
£138K09/230.44 miFlat 42, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£122.5K09/230.44 miFlat 27, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£122.5K08/210.46 miFlat 2, Dellers Court, Dellers Wharf, Taunton, Somerset TA1 1DX2
£219.9K03/230.47 miFlat 22, Compass Court, Compass Rise, Taunton, Somerset TA1 4PP2
£200K10/230.47 miCompass Court, Flat 24, Compass Rise, Taunton, Somerset TA1 4PP2
£115K01/210.48 mi37, Winters Field, Taunton, Somerset TA1 1PY2
£180K10/200.52 miFlat 8, Bath House Court, Wellington Road, Taunton, Somerset TA1 4EQ2
£160K05/210.52 miFlat 4, Bath House Court, Wellington Road, Taunton, Somerset TA1 4EQ2
£211K11/230.54 mi52, Geoffrey Farrant Walk, Taunton, Somerset TA1 1PU2
£124.6K06/210.54 mi17, Northfield Gardens, Taunton, Somerset TA1 1XN2
£225K02/210.56 miFlat 45, Vivary House, Kinglake Drive, Taunton, Somerset TA1 3RR2
£200K03/230.56 miFlat 76, Sherford Lodge, Kinglake Drive, Taunton, Somerset TA1 3RR2
£340K08/230.56 miFlat 19, Blagdon Lodge, Kinglake Drive, Taunton, Somerset TA1 3RR2
£60K11/200.57 mi2, Northfield Gardens, Taunton, Somerset TA1 1XN2
£175K06/230.57 miFlat 7, Summerfield Court, French Weir Close, Taunton, Somerset TA1 1XJ2
£176K05/230.57 miFlat 28, Summerfield Court, French Weir Close, Taunton, Somerset TA1 1XJ2
£125K12/200.58 mi23, Northfield Gardens, Taunton, Somerset TA1 1XN2
£140K10/200.58 miFlat 10, Avongrove Court, The Avenue, Taunton, Somerset TA1 1TL2
£155K03/230.58 miFlat 10, Avongrove Court, The Avenue, Taunton, Somerset TA1 1TL2
£240K05/210.62 miFlat 50, Vivary House, Kinglake Drive, Taunton, Somerset TA1 3RR2
£172K07/210.63 mi4, Firepool View, Taunton, Somerset TA1 1PS2
£159K11/200.63 mi36, Firepool View, Taunton, Somerset TA1 1PS2
£179K02/210.63 mi28, Firepool View, Taunton, Somerset TA1 1PS2

Local Rents

31 rents from £850/mo to £2.7K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£95009/240.23 miEast Reach, Taunton2
£1,00012/240.23 mi-2
£92509/240.24 miThe Octagon, Taunton, Somerset, TA12
£85009/240.27 miMiddle Street, Taunton, TA12
£1,20009/240.28 mi-2
£1,10003/250.3 mi-2
£1,50009/240.3 mi-2
£1,70003/250.3 mi-2
£1,55009/240.31 miCoal Orchard, TAUNTON2
£1,20009/240.31 mi-2
£1,20012/240.31 mi-2
£1,20009/240.31 miGloucester Street, TAUNTON2
£1,60009/240.33 miCoal Orchard, TAUNTON2
£99509/240.34 miPriory Avenue, Taunton2
£95009/240.37 miTaunton2
£85011/240.37 mi-2
£1,20009/240.41 miWestgate Street, Taunton, 2
£1,05009/240.42 mi-2
£1,00001/250.42 mi-2
£90009/240.43 miDovetail Court,park Street,taunton2
£1,10009/240.46 mi-2
£1,25011/240.51 mi-2
£89509/240.52 miUpper Wood Street, Taunton, TA12
£2,70009/240.61 mi-2
£2,70011/240.61 mi-2
£2,70002/250.61 mi-2
£2,70003/250.61 mi-2
£2,70009/240.62 mi-2
£2,70012/240.62 mi-2
£2,70002/250.62 mi-2
£2,70003/250.62 mi-2

Local Area Statistics

Population in TA1

39,265

Population in Taunton

85,088

Town centre distance

0.10 miles away

Nearest school

0.10 miles away

Nearest train station

0.66 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Seller's market

Capital growth (5yrs)

+21%

Property History

Listed for £140,000

January 20, 2025

Floor Plans

Description

  • Ground Floor Apartment +
  • Two Bedrooms +
  • Town Centre Location +
  • uPVC Double Glazing +
  • Gas Fired Central Heating +
  • Ideal First Time Buyer Or Investment Purchase +
  • Must Be Viewed Internally To Appreciate +

Internally, a front door leads into an entrance porch with further door through to the main hall which in turn offers access to all principle rooms. There is a light and airy dual aspect, open plan kitchen/living room that is split into two distinctive areas with room for a breakfast table. The kitchen area comprises of a range of matching wall and base units, roll edge work surfaces and tiled splashbacks. There is an integrated double oven, gas hob with extractor above, space for a tall fridge/freezer and space and plumbing for a washing machine. There are two bedrooms, as well as a modern three piece white bathroom suite comprising of wc, wash hand basin, bath with tiled surround and shower over.

GENERAL REMARKS AND STIPULATIONS:
Tenure: The property is offered for sale leasehold by private treaty with vacant possession on completion.
Lease Information: Lease Length: 990 years from 1st January 2008 (973 years remaining). Service Charge: £87 p/m. Ground Rent: NIL.
Services: Mains water with meter, mains electricity, mains drainage, gas fired central heating.
Local Authority: Somerset Council, County Hall, The Crescent, Taunton, Somerset, TA1 4DY
Property Location: w3w.co/froze.curl.among
Council Tax Band: B
EPC: C
Broadband Availability: Ultrafast with up to 1000 Mbps download speed and 1000 Mbps upload speed.
Mobile Phone Coverage: Voice & data likely with EE, Three, O2 & Vodafone.
Flood Risk: Rivers & Sea-very low. Surface water-low.

IMPORTANT NOTICE Wilkie May & Tuckwood for themselves and for the vendors of the property, whose agents they are, give notice that: 1. the particulars are intended to give a fair and substantially correct overall description for the guidance of intending purchaser and do not constitute part of an offer or contract. Prospective purchasers and lessees ought to seek their own professional advice. 2. All descriptions, dimensions, areas, reference to condition and necessary permissions for use and occupation and other details are given in good faith, and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Wilkie May & Tuckwood has any authority to make or give any representations or warranty whatever in relation to this property on behalf of Wilkie May & Tuckwood, nor enter into any contract on behalf of the vendor. 4. No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold, let or withdrawn. Photographs taken and details prepared January 2025. MEASUREMENTS AND OTHER INFORMATION All measurements are approximate and have been taken by Nichecom. While we endeavour to make our sales particular accurate and reliable, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the information with you.
Code of Practice for Residential Estate Agents: Effective from 1 August 2011:
'8. Financial Evaluation 8a At the time that an offer has been made and is being considered by the seller, you must take reasonable steps to find out from the prospective buyer the source and availability of his funds for buying the property and pass this information to the seller. Such information will include whether the prospective buyer needs to sell a property, requires a mortgage, claims to be a cash buyer or any combination of these. Such relevant information that is available should be included in the Memorandum of Sale having regard to the provisions of the Data Protection Act.8b These reasonable steps must continue after acceptance of the offer until exchange of contracts (in Scotland, conclusion of missives) and must include regular monitoring of the prospective buyer's progress in achieving the funds required, and reporting such progress to the seller.
The agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for their purpose. A Buyer is advised to obtain verification from their solicitor or surveyor. References to the Tenure of the Property are based on information supplied by the Seller. The agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.

Agent Details

Wilkie May & Tuckwood, Taunton

01823 212604

Next Steps?

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