Property Address: Cimla , Neath, Neath Port Talbot

We are looking to secure the right investor for this project. Currently, we are at the top of the list for the best offer, but with block bookings on this property, time is of the essence. If we don't act quickly, it is likely that the price will increase. Therefore, we encourage you to express your interest right away and ensure you have proof of funds available to secure this deal.
Nestled in a sought-after area of Neath, this bungalow presents an exceptional investment opportunity for those looking to capitalise on the booming real estate market in the region. As a well-located property, it enjoys a high demand, with well-presented bungalows often selling quickly and at competitive prices. The potential for renovation at this address is significant, especially given the current market dynamics.

Property Description:

This bungalow requires a full renovation, providing the perfect canvas for the discerning investor. A small extension could enhance the living space, aligning it with the size of neighbouring properties and significantly boosting its market value. Recent comparable sales in the area further reinforce confidence in achieving a strong exit price post-renovation.

Schools: The property is within the catchment area of several reputable schools, including Cimla Primary School and Neath Port Talbot College, known for its excellent educational offerings.

Shops: Residents will benefit from a variety of local shops, supermarkets, and retail outlets within a short distance, ensuring all daily needs are conveniently met.

Transport Links: The property boasts excellent transport links, with easy access to local bus services and proximity to Neath railway station, providing quick connections to nearby cities and beyond.

Investing in this bungalow means partnering with some of the best building teams and project managers in the area. Our experienced professionals are well-versed in managing renovations, making this venture our bread and butter. With their expertise, you can ensure a seamless renovation process and maximise the value of your investment.

Don’t miss out on this opportunity to transform a property in a thriving area of Neath. With the right vision and execution, this bungalow can become a stunning home or a lucrative investment.

Number of Bedrooms (current): 3

Is there potential to add a bedroom?: No

Reception Rooms: 1

Bathrooms/shower-rooms: 1

Property Asking Price: £130,000

Agreed Sale Price: £130000

Fair Market Value (DUV): £245,000

Comparable 1: Sold £280,000 - https://www.rightmove.co.uk/house-prices/details/england-137078762-21505435?s=1a68e820509d2d46262bb3401c3d33628c44ae11ae65a7a9a76df8c68a8033e5

Comparable 2: Sold £258,000 - https://www.rightmove.co.uk/house-prices/details/england-47844992-19086061?s=c16ff51095dc872e8854c4a0c0a68b7e68a8dc902eab2955a3d30fa815305950

Comparable 3: Sold £226,000 - https://www.rightmove.co.uk/house-prices/details/england-140420117-22095760?s=af65fb673d152c2f3f4e0fbdaf484021008af8de5a493d976c874f0e044272f7

Comparable 4: Sold STC £357,000 - https://www.rightmove.co.uk/properties/137889302#/?channel=RES_BUY

Comparable 5: Sold STC £234,000 - https://www.rightmove.co.uk/properties/150372947#/?channel=RES_BUY

Comparable 6: Sold STC £299,000 - https://www.rightmove.co.uk/properties/147271262#/?channel=RES_BUY

Market Status: on the market

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

Is the property in a lettable condition: No

Is the sale price negotiable?: No

Property Type: House

Freehold or Leasehold: Freehold

Is the property part of portfolio?: No

Exit Strategy 1: Cash Purchase Flip (or bridge)

Exit Strategy 2: BTL

Exit Strategy 3: Capital Growth

If HMO strategy please select:

Potential Target Demographic: Retired/Elderly

Refurbishments Required: 

Phase 1: Demolition and Preparation
Rip Out and Prepare for Build: Remove existing fixtures, fittings, and any unwanted materials to create a clean slate for renovation.
Phase 2: Build Adjustments
Adjust Floor Plan: Build a small extension to increase living space.
Phase 3: Electrical and Heating Updates
Re-Wire: Complete a full rewiring of the property, including the installation of modern spotlights throughout for improved lighting.
Install New Radiators and TRVs: Replace existing radiators with new units and install thermostatic radiator valves (TRVs) for better temperature control.
Phase 4: Insulation and Boarding
Boarding and Insulation: Install insulation in walls and ceilings to improve energy efficiency and comfort, followed by new boarding.
Phase 5: Kitchen and Bathroom Installation
Install New Contemporary Kitchen: Fit a sleek, modern kitchen that caters to contemporary living needs, focusing on functionality and style.
Install New 4-Piece Bath Suite: Ensure the new bathroom suite is suitable for elderly residents, incorporating safety features and easy accessibility.
Phase 6: Woodwork and Finishes
New Woodwork: Install cottage-style doors and torus skirting boards to enhance the property's character and charm.
Phase 7: Painting and Decorating
Painting and Decorating: Apply fresh paint throughout the property, selecting a neutral palette to appeal to potential buyers and create a welcoming atmosphere.
Phase 8: Flooring
Luxurious Carpet and Flooring: Install high-quality carpet in bedrooms and durable, stylish flooring in living areas and the kitchen for a cohesive look.
Phase 9: Curb Appeal Enhancements
Front Curb Appeal: Improve the entrance and exterior of the property with landscaping, a new front door, and possibly outdoor lighting to make a great first impression.
Phase 10: Outdoor Presentation
Back Garden Clean and Present: Clear debris, tidy up the garden, and enhance its appearance to create an inviting outdoor space suitable for relaxation and enjoyment.
This comprehensive renovation schedule ensures a thorough transformation of the bungalow, making it a modern, attractive property that appeals to a wide range of buyers while maximising its investment potential.

We have estimated a budget of £60,000, which will be more than sufficient to transform this property. Tiger Burrows Ltd can offer hands-off professional project management for 10% of the build costs. Once the deal is secured by a client, our next step in due diligence involves obtaining itemised detailed schedules of works quoted by our trusted builders, ensuring project success before any funds are allocated, even for legal expenses.

Estimated Refurbishment Costs: £60,000

Flip Figures

Purchase Price: £130,000

Refurb Costs: £60,000

Entry Legal Costs: £2500 (This includes some professional fees for building control and a set of plans drawn)

Exit Legal Costs: £1000

Stamp Duty: £6500

Survey Costs: £450

Tiger Burrows Consultation Fee: £2997

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £3822

Total Costs for investor: £207,019

Re-sale price (DUV): £245,000 (We have much stronger comparables and highly anticipate this selling for more. But we like to underpromise and over-deliver)

Estimated Flip Profit: £37,981