Abertillery is the South Wales hotspot – An awesome 2 exits with either Buy To Let or Flip

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Abertillery is the South Wales hotspot – An awesome 2 exits with either Buy To Let or Flip

£249.00

Reserve this investment opportunity for £249

Figures in Brief:
Sale Agreed at: £52,000
Estimated Done Up Value: £90,000
1st exit: Flip Profit: £10,979
2nd exit: Cash Flow (BTL): £163.13

Property Description: This is a large spacious end of terrace house located in beautiful Abertillery! It benefits from lovely views over the surrounding valley.
The house is accessed via a set of steps where there is an enclosed forecourt garden at the front.
The front wall needs re-pointing in places.
Parking for this house is either on the road or in an off-road semi circle about 2 mins walk away.
Go through the front door into a large lounge area which runs the full width of the house, it has a large bay window with stunning views
From here there is a door that goes through to a large kitchen with diner area.
The kitchen ceiling has suffered from some basic water damage where the boiler and a radiator has leaked through the ceiling in 2 different places - it has been poorly patched up and needs redoing.
There is a single storey extension that houses the bathroom.
There is a back door through the kitchen that leads out to a yard area.
The back wall here needs re-pointing in places
The stairs is in the lounge and at the top of the stairs there are 3 good sized bedrooms plus a fourth room which is L shaped - this could easily be used as a study/office or a play room or storage room.

How to add value to this house:
The house benefits from a very large kitchen/ diner area - it could be a real wow factor and selling point to put in a lovely modern kitchen with a breakfast bar and nice lighting
The kitchen walls are currently covered in black plastic - the room is really dark - it would benefit from a skim and light colour on the walls
For the upstairs - get rid of the artex - skim whole lot and paint up, put on new doors, nice carpets and a good paint job will transform all the bedrooms
Give the outside some curb appeal - this property will make a great rental!

The local council in this area are offering a 0% loan of up to £25,000 for properties that have been empty for at least 6 months to bring them back into a liveable condition.
Sourcing Agent can provide the information needed to apply for this.

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Property Information:

Property Address: Aberbeeg Road, Abertillery, NP13 2EG

Number of Bedrooms (current): 3

Is there potential to add a bedroom?: NO (3 bedrooms plus upstairs study/office/playroom)

Reception Rooms: 2

Bathrooms/shower-rooms: 1

Property Asking Price: £70,000 - £79,950 (was £89,950)

Agreed Sale Price: £52,000

Fair Market Value (DUV): £90,000

Comparable 1: https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=74521229&sale=8435071&country=england £95k

Comparable 2: https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=67792195&sale=9000085&country=england £95k

Comparable 3: https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=75361475&sale=9000082&country=england £95k

Market Status: Sale Secured by Sourcing Agent

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

Is the property in a lettable condition: Yes

Is the sale price negotiable?: No

Property Type: House

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

Refurbishment Costs: Estimated at £16,750

Tidy garden/yard area
Weatherguard Paint/spray house on outside
Re-Point garden walls in places (budget £500)
Render is cracker in corner - patch up
Rip out existing
x 1 new radiator needed for the diner area
Reboard kitchen ceiling (see pics) - it had a leak from a radiator upstairs in one corner, then a leak from the boiler in the other.
Skim whole kitchen ceiling and walls
Need new kitchen
Need new skirting board in kitchen
Need new bathroom
Skim bathroom
Skim all of upstairs
x4 new doors needed
Upstairs study - paint damp seal on inside
Paint and decorate throughout
New flooring

SMP Can project manage the build for 10% +VAT of the refurb amount

The local council in this area are offering a 0% loan of up to £25,000 for properties that have been empty for at least 6 months to bring them back into a liveable condition.
Sourcing Agent can provide the information needed to apply for this.

Flip Figures (Buy, Renovate, Sell)

Purchase Price: £52,000
Refurb costs: £ 16.750
Entry legal costs: £1200
Exit legal costs: £1000
Stamp Duty: £1560

Survey: £450
Broker Fee: £400

SMP Consultation Fee: £2497

Estate agent selling fees: £1231

RESALE PRICE: £90,000

Profit: £10,729

BTL Figures (Buy to let)

Purchase Price: £52,000
Refurb costs: £16,750
Legal costs: £1200
Stamp Duty: £1560

Survey: £ 450
Broker Fee: £400
SMP Consultation Fee: £2497
Rental Income: £450
New Mortgage (3.5%): £196.88

EA Rate (10%): £45
MOE rate (10%): £45

CASH FLOW: £163.13

Money left in deal £9539

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: This part of the South Wales valleys forms part of a thriving community, nestled in the hills inbetween the Heads of The Valleys Road, which offers excellent links to Abergavenny and the South, the A4042 corridor, Newport and the M4 corridor to rest of Wales and Bristol. The area has excellent schools, facilities and infrastructure.

The Abertillery area has had much investment in recent years in the town centre, car parks, shops, theatre and roads infrastructure.

Ebbw Vale is most famous for its old Steel Works site, which is currently being regenerated and the old site will soon hold the new hospital, and railway station direct to Cardiff, bringing valuable links to the area. It is a popular town for young families as it offers a fantastic sense of community spirit, opportunities and new development, especially since the recent announcement to turn the festival park into a major leisure and tourist destination.

Here’s the link: https://www.southwalesargus.co.uk/news/17544786.masterplan-revealed-for-plans-to-turn-ebbw-vales-festival-park-into-a-major-leisure-and-tourist-destination/
Nearby Cwmbran is where the new super hospital is currently being built and opens in spring 2021. The super hospital will create 600 new jobs when it is open so there will be high demand for housing in the area and house prices will inevitably increase in the next 2 years.

It’s currently an investor’s market in this area, so a great chance to grab distressed property and add value whilst the prices are at this level.
Here’s a link to the latest update.
https://www.walesonline.co.uk/news/health/grange-university-hospital-cwmbran-details-16029785

Links/Infrastructure:
One of the other main strengths of this area is high rental demand due to its proximity to Newport. It’s easy to commute – just 15 miles, 30 minutes in the car.
Same distance and time to get you on to the M4 where it’s easy to travel to Cardiff, Swansea and in the other direction Bristol.
Newport is a thriving city with good employment levels, refurbished city centre and thriving night life.
From Abertillery you can commute via M4 to Bristol and the surrounding industrial areas in 60 minutes.

In the opposite direction the heads of the valleys road infrastructure is being made into dual carriage way all the way to Merthyr Tydfil. The A465 dual carriageway between Gilwern and Brynmawr is scheduled for completion in 2019. The latest phase of the Heads of the Valleys road infrastructure project is costing around £220m.
So far Section 1 between Abergavenny and Gilwern, Section 3 between Brynmawr and Tredegar, and section 4 between Tredegar and Dowlais Sections 5 and 6 are scheduled to be completed in 2020.
Much of it is already done but it's not yet complete.

Here's a link to the works going on: https://www.walesonline.co.uk/business/business-news/how-key-section-heads-valleys-11765260

Train/Bus:
Nearest rail link is Llanhilleth – 1.9 miles. It has train links that get you direct to Cardiff central in less than 1 hour.
Good bus links in the area to all nearby towns.

Entertainment/Leisure:
Good selection of local bars, restaurants and a cinema. Nearby Ebbw Vale sports centre has some great facilities including restaurants, bars, shops, gym, leisure centre and swimming pool. Nearby in Abertillery there is kick boxing, yoga, gymnastics and an athletics club. Also a rugby club , bowls and gold club.

The Guardian Café at Six Bells was voted as second best place to eat in Blaenau Gwent by Trip Advisor in 2019. Best known for its tremendous Sunday roast and homemade cakes!

Berry’s Bar and Grill was voted third best place to eat in Blaenau Gwent by Trip Advisor in 2019, best known for its Yorkshire pudding towers!

There are a number of shops, restaurants and bars in Abertillery. There is a large Tesco, Co-Op, Trinant Shopping centre, public parks, and Cinema within a few miles.
There is also the Metropole theatre and another theatre in nearby Beaufort.

Hotels:
Accommodation Premier Inn 3 star at Ebbw Vale

SCHOOLS within the area:
• SoFrydd Primary School
• Trinant Primary School
• Eden Education Centre
• St Illfyd’s
• Tillery Street Campus (fantastic new facility which offers all levels of school to 18)

Key Journey Times:
Newport 15 miles, 30 minutes in the car.
Same distance and time to get you on to the M4 where it’s easy to travel to Cardiff, Swansea and the rest of Wales
Superhospital in Cwmbran, 15 miles, 30 mins in car
From Abertillery you can commute via M4 to Bristol and the surrounding industrial areas in 60 minutes.
Ebbw Vale 15 minutes
Merthyr 30 minutes

Nearest Train Station: Llanhilleth 1.9 miles (4 mins in car)

Any key journey times: Newport 15 miles, 30 minutes in the car.
Same distance and time to get you on to the M4 where it’s easy to travel to Cardiff, Swansea and the rest of Wales
Superhospital in Cwmbran, 15 miles, 30 mins in car
From Abertillery you can commute via M4 to Bristol and the surrounding industrial areas in 60 minutes.
Ebbw Vale 15 minutes
Merthyr 30 minutes

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 £2497(inc VAT) which is paid on completion of the sale. A £249 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

Investment Opportunities

Abertillery is the South Wales hotspot – An awesome 2 exits with either Buy To Let or Flip

Abertillery is the South Wales hotspot – An awesome 2 exits with either Buy To Let or Flip

Reserve this investment opportunity for £249

Property Information:

Refurbishments Required

Flip Figures (Buy, Renovate, Sell)

BTL Figures (Buy to let)

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