16.7% BMV on popular tourist town Buy To Let or strong flip numbers

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16.7% BMV on popular tourist town Buy To Let or strong flip numbers

399.00

Reserve this investment opportunity for £399

Figures in Brief:
Sale Agreed at: £100.000 (16.7% BMV)
Estimated Done Up Value: £160,000
1st exit: Flip Potential Profit: £21,607
2nd exit: Cash Flow (BTL): £250

Property Description:  This Grade II listed 4 bedrooms mid terrace house and shop space, with some of the original features like quarry tiles flooring, Sash windows, secluded walled rear garden (which is rare in this part of town), slate roofing etc. is situated in a side street a short distance from the town centre.

This attractive and ancient historic town is in the county of Pembrokeshire. As well as being the county's administrative centre, Haverfordwest has a great variety of shops in the town and the outlying retail parks. The centre of Haverfordwest is dominated by the Western Cleddau River that runs through the middle of the town and the castle that towers above it.

Close by to this property in Haverfordwest are £8m leisure centre, local butchers, dental practices, local eat-in and takeaway restaurants, local pubs and there is also Tesco’s Extra supermarket. On the High Street; there are Charity shops, Retail shops, High Street Banks, Solicitors practices, Lettings agencies, Estate Agents etc.

They are schools for children; ranging from pre school, nursery, primary, secondary and Higher Education at either Mount Airey VC Primary School, Fenton Primary School, Portfield School (a special needs School), Haverfordwest High (Secondary) School and Pembrokeshire College.

There are also, Guest houses and Air BnB accommodations that are within walking distances of this house.

Services: We are advised that Water, Electricity, Gas Phones lines are connected.

Externally: To the rear of the property is a enclosed walled garden area. At the front there are parking spaces which require parking permit on Hill Street and surrounding streets.

Add To Cart

 Property Information:


Property Address: Haverfordwest, Pembrokeshire, SA61 1QF

Number of Bedrooms (current):  4

Is there potential to add a bedroom?: Yes; loft space

Reception Rooms: 2

Bathrooms/shower-rooms: 2

Property Asking Price: 120,000

Agreed Sale Price: 100,000

Fair Market Value (DUV): 16.7%

Comparable 1: 79 Hill Street, SA61 1QL. Sold on 21/03/19. £149,000. https://www.zoopla.co.uk/property/79-hill-street/haverfordwest/sa61-1ql/20796386

Comparable 2: 15 Jury Lane, SA61 1BZ. Sold on 15/04/19. £142,000. https://www.zoopla.co.uk/property/15-jury-lane/haverfordwest/sa61-1bz/20794136

Comparable 3: 11 Goat Street, SA61 1PX. Sold on 05/06/19. £142,000. https://www.zoopla.co.uk/property/11-goat-street/haverfordwest/sa61-1px/20796200

If no comparables, please state why there are no direct comparables: Barn Street (3 Bed) £155,000 https://www.zoopla.co.uk/details/45791782
Jury Lane (3 Bed) £152,000 https://www.onthemarket.com/details/5684718/
Merlins Hill (3 Bed) £150,000 https://www.zoopla.co.uk/for-sale/details/52356425
Tudor Way (4 Bed) £185,000 https://www.zoopla.co.uk/for-sale/details/52699097
Tudor Gardens (3 Bed) £155,000 https://www.zoopla.co.uk/for-sale/details/50600980
Hill Street (4 Bed) £179,950 https://www.onthemarket.com/details/993957/


 

Market Status: on the market

Why is the property being sold?: Sale identified by sourcer (open market)

Is the property in a lettable condition: Yes

Is the sale price negotiable?: Yes

Property Type: Mixed Usage

Freehold or Leasehold: Freehold

Is the property part of portfolio?: No

Exit Strategy 1: BTL

Exit Strategy 2: Cash Purchase Flip (or bridge)

Exit Strategy 3: Capital Growth

If HMO strategy please select: N/A

Potential Target Demographic: Families


 

Refurbishments Required

Estimated Refurbishment Costs: £24,750

01. Medium Kitchen area including wall tiles, new flooring, lighting etc.
02. 2 x Bathroom areas.
03. 4 x Bedrooms: floor, walls & ceiling. 3 Bedrooms are in a good condition.
04. Replace lean to roofing after testing for asbestos?.
05. Re-wire property.
06. Kerb appeal.
07. Loft area? Available but not required.
08. Insulate/ damp proof_ wall, ceiling etc.
09. Carpeting and flooring.
10. Apply for planning to incorporate shop space into property, if SA or Air BnB option?.
11. Replace front Sash windows and external doors.
12. Garden space

(*) Pembrokeshire County Council offers a H2H (houses to homes) loan scheme for refurbishment projects. Subject to eligibility.


 Flip Figures (Buy, Renovate, Sell)

Purchase Price: £100,000
Refurb costs: £ 24,750
Entry legal costs: £1200
Exit legal costs: £1000
Stamp Duty: £3000

Survey: £450
Broker Fee: £400

SMP Consultation Fee: £3997

Estate Agent selling fees: £2188

RESALE PRICE: £160,000

Potential Profit: £21,607


BTL Figures (Buy to let)

Purchase Price: £100,000
Refurb costs: £24,750
Legal costs: £1200
Stamp Duty: £3000

Survey: £ 450
Broker Fee: £400
SMP Consultation Fee: £3997
Rental Income: £750
New Mortgage (3.5%): £350

Estate Agent Rate (10%): £75
Management & operating Expenses (10%): £75

CASH FLOW: £250

Money left in deal £15,203

Money out in 5 years  20% ROI on money left in deal

Disclaimer : Perform your own Due Diligence. The ROI above is not a guaranteed return and is an indication of the potential based on achieving the relevant figures in all aspect of the purchase, refurbishment and refinance/resale. All figures will be subject to the buyers status and market fluctuations.


 

Area Description: 

Haverfordwest is a market town, the county town of Pembrokeshire and an important road network hub between Milford Haven, Pembroke Dock, Fishguard and St David's as a result of its position at the tidal limit of the Western Cleddau River.

The majority of the town, comprising the old parishes of St. Mary, St. Martin and St. Thomas, lies on the right (west) bank of the river. On the left bank are the suburbs of Prendergast and Cartlett. At this point, a pair of sandstone ridges extending east-west and separated by a deep, narrow valley, are cut through by the Western Cleddau River. This leaves two high spurs on the west side of the river.

The town has been English-speaking for centuries (south Pembrokeshire being known as 'Little England Beyond Wales'), but because the town markets traded the goods of Welsh farmers to the north and east, there has always been a significant Welsh-speaking influence. The suburb of Prendergast seems to have originated as an extramural Welsh dormitory, dating from the times when all agricultural trade had to pass through the borough and the fearful Normans before the destruction of Anglo-Norman power in the year 1136, tried to prevent Welshmen bearing arms from entering within the castle walls after nightfall.


Schools
Haverfordwest High VC School, an English-medium secondary school, was formed in 2018 by the merger of Sir Thomas Picton School and Tasker Milward School.

Pembrokeshire College, an affiliated college of the University of Glamorgan, is situated in the Merlin's Bridge suburb of the town. The college serves as the principal centre of further and higher education in Pembrokeshire.

Ysgol Caer Elen, a new Welsh-medium school opened in September 2018 for pupils aged 3 to 16. It replaces Ysgol Gymraeg Glan Cleddau, which closed in August 2018. The new school cost £28 million to build and has the capacity for 315 primary and 600 secondary pupils. The nursery has the capacity for 45 children.

Redhill Preparatory School is an independent school established in 2001 which includes a Montessori learning component for younger pupils.

Waldo Williams Primary School opened in 2019, combining the former Mt Airey and Haverfordwest Church in Wales VC schools..


Health and sport
Haverfordwest County A.F.C., an association football team, play at New Bridge Meadow Stadium. They play in the Welsh Football League Division One. The town is also home to rugby union club, Haverfordwest RFC, which formed in 1885 and Haverfordwest Cricket Club.

In 2009 Haverfordwest's sports and leisure provision benefited from significant investment with the opening of a new £8 million leisure centre situated at St. Thomas Green.

The site of the former Sir Thomas Picton School (now part of the newly formed Haverfordwest High VC School) also benefits from a wide range of sporting facilities including a purpose-built sports centre, hockey pitch, astro-turf and full-sized athletics track.

Withybush General Hospital is one of the main hospitals of West Wales and part of the Hywel Dda Local Health Board, formerly Pembrokeshire & Derwen NHS Trust. The paediatric and maternity services have now been moved to Carmarthen.

The headquarters of Hywel Dda Health Board (covering Pembrokeshire, Carmarthenshire and Ceredigion) are in Haverfordwest.


Shops and transport links
Haverfordwest town, offers shops and boutiques like Tesco, Lidl, Aldi, Morrisons, Iceland, Debenhams, Next, Marks and Spencer’s, Boots the chemist, Palace cinema, Costa coffee shop,

Public Library, Schools, High Street Banks, Doctor’s surgeries etc. Haverfordwest location means you are within 20 minutes of beaches like Newgale, Broad Haven, Little Haven, Dale, St. Brides etc. and eateries and restaurant at these locations, too

Also, close-by are breathtaking beaches that are protected by national park status from development e.g. Castlemartin, Freshwater East, Freshwater West (that have been featured in Hollywood films like Harry Potter, Robin Hood etc.) Newgale, Dale, Broad Haven etc.

National Express Bus route, within 15 minutes (drive) from property. Ferry Port provides links with Ireland and beyond.


Other places of interest and activities nearby
* Rich Naval, Military and Royal Air Forces, history e.g. Carew Cheriton Control Tower.

* Norman Castles ruins in the area like Carew and Manorbier Castles.

* Family adventure parks like Folly Farm, Anna Zoo, Heatherton world of activities, Oakwood, Blue Lagoon water and holiday park etc.

* Ironman Wales Tenby, Saundersfoot etc.

* Milford Haven Fish Week takes place in June, every year.


Travel
It is within 15 minutes drive of Milford Haven train station and within 25 minutes drive (about 6.9 miles) to Pembroke Dock train station.

Swansea Train station and within 1 hour 35 minutes (about 65.5 miles) or by Road on the via A48 to M4 onto A477.

Cardiff (CDF) train station and within 2 hours 15 minutes drive (about 105.3 miles) via A4076 to M4 and B4267 to the centre of Cardiff. And, within 2 hours 45 minutes by train

National Express Bus route, within 15 minutes (drive) from property.

International Ferry Port provides links with Ireland and beyond


Restaurant nearby
Taj Mahal Indian restaurant. 1 - 2 Milford Road, Haverfordwest, SA61 1PJ. 01437 763610. Certificate of Excellence 2015, 2017, 2019 - Winner

Harbourmaster. 5 Orion House, Nelson Quay, Milford Haven, SA73 3AZ. 01646 695 493. Where locally sourced quality produce Grills in a causal outdoor seating.

Martha’s Vineyard. Cleddau House, Milford Marina, Milford Haven, SA73 3AA. 01646 697 083. Great selection of beers and wine, lots of variety on the menu and served by talented staff.

The Lounge. Sovereign House, 7 & 8 Nelson Quay, Milford Haven, SA73 3AJ. 01646 698 247. Great atmosphere where quality home cooked food is served by polite staff. Child friendly, as well.

Foam. Unit 2, Barrallier House, The Docks, Milford Haven, SA73 3AA. 01646 698 985. A location by the sea shoreline where great cocktails could be enjoyed with friends and family. Food is served at breakfast, lunchtime, afternoon tea, Tapas and evening menu.

Coco’s. Point Street, Milford Haven, SA73 3AF. 01646 694 444. Nice restaurant with original and modern decor. Great food especially on Sunday’s during lunchtime. Attention to detail and catering to allergy requests.


Sailing clubs nearby.
Dale Yacht Club. 01646 636 362
Neyland Yacht Club. 01646 600 267
Tenby Sailing Club. 01834 842 762

Nearest Train Station: Haverfordwest 5 minutes drive or 15 minutes walk.

Any key journey times: Swansea Train station and within 1 hour 35 minutes (about 65.5 miles) or by Road on the via A48 to M4 onto A477.


 

The fine Print


SMP operates in trust with its potential investors. SMP is registered with the Property Ombudsman Group. SMP prides itself on delivering BMV deals with accuracy and confidence. The sourcing fee for this deal is £3997(inc VAT) which is paid on completion of the sale. A £399 deposit is required to secure the deal which is refundable if the investor decides not to proceed to an agreed sale with the vendor, ie after viewing. The deposit is not refundable if the investor pulls out of the purchase after sale agreed. 

SMP takes no responsibility if deals “fall through” for matters out of our control. It is always highlighted that property investment carries an element of risk and ultimately a deal may not be successful. There for deal owners are advised to carry out their own due diligence to confirm for themselves the findings SMP present. SMP has no control of the UK property market prices and investments can be lost or profit margins shortened with the fluctuating market