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4 bed ‘real’ doer upper, only £80k though

40 replies

HellsBalls · 26/12/2024 07:56

Looking at the lower end of the doer upper market, I found this gem.
Seems the current owner has bitten off more than he can chew and needs a sucker, sorry, savvy investor, to rescue him.
https://www.rightmove.co.uk/properties/156114977#/?channel=RES_BUY

Check out this 4 bedroom terraced house for sale on Rightmove

4 bedroom terraced house for sale in High Street, Boston, PE21 for £80,000. Marketed by Bruce Mather Ltd, Boston

https://www.rightmove.co.uk/properties/156114977#/?channel=RES_BUY

OP posts:
pinkroses79 · 26/12/2024 09:42

Looks like it has lots of potential with lovely staircases and fireplaces. It could be amazing but it seems to be unmortgageable at the moment so must have something fairly major going on.

HellsBalls · 26/12/2024 10:01

pinkroses79 · 26/12/2024 09:42

Looks like it has lots of potential with lovely staircases and fireplaces. It could be amazing but it seems to be unmortgageable at the moment so must have something fairly major going on.

The collapsing stairs? From what I know, stair cases are usually part of the grade 2 listing.

OP posts:
almondflake · 26/12/2024 10:23

I think it's a fantastic property for someone with loads of money but I'd not trust any of the renovations ,the boiler for starters is a bad install and is definitely not new ,it looks like it's years old and has been thrown in with plastic pipe which with current regulations should not be used within a meter of the boiler ,husband reckons that the flue could be from a different boiler.
The carpet looks so cheap , id have to see all receipts and completion certificates from trades that have worked on the property .

SabrinaThwaite · 26/12/2024 10:44

This is it before the renovations:

https://media.onthemarket.com/properties/8857628/1312542170/document-0.pdf

It went to auction in Feb 2024 for £65k. That back wall doesn’t look too clever.

https://www.rightmove.co.uk/properties/86594424#/media?id=media0&channel=RES_BUY

It’s in an area at high risk of river flooding - flooded in 2013 but a huge flood defence scheme has been completed since then.

HellsBalls · 26/12/2024 11:34

Good finds @SabrinaThwaite So it’s structurally unsound, as well as everything else. And it couldn’t sell at 65k, and it’s been advertised at up to 110k.
The vendors problem is there are no potential purchasers. All the local flippers and builders have said no, so who is left? It’s not like anyone wants to live in that high street location, or needs to buy a derelict grade 2 listed building.
Maybe a local builder with 35-40k sat around and a 3 year part time renovation horizon will take a punt?

OP posts:
titchy · 26/12/2024 11:43

Do nothing and it's a 10% yield - not bad!

CheeseyOnionPie · 26/12/2024 11:48

“Mostly renovated” 😂

Lots I dont like about this place - mostly that you step out of your front door directly onto the pavement. I’ve never liked that.

NOTANUM · 26/12/2024 11:48

titchy · 26/12/2024 11:43

Do nothing and it's a 10% yield - not bad!

Except that as a landlord you’re liable for yearly electrical and boiler certificates etc. I doubt any reputable person would sign these certs.

slightlydistrac · 26/12/2024 11:50

Cremeul · 26/12/2024 08:11

It grade 2 listed so any work at all, inside or out would need to go through planning consent. The new owner is also liable for breach of planning if there's been any unauthorised work done by previous owners. Love a Georgian house though, and it could be amazing with TLC and lots of £££

Soon as I saw the photo I thought crikey, that's Georgian and I hope it's listed.

It will be fantastic if it is done up sympathetically. Bit near the river though, I wonder if it might be prone to flooding round there.

SabrinaThwaite · 26/12/2024 11:50

I think you could make a really nice home out of it, but it’s a money pit and sandwiched between two shops. The much larger Georgian property opposite was renovated with Lottery Heritage funding (for ££££££), and the one next door to that has been renovated and split into SC apartments:

https://www.booking.com/hotel/gb/bank-apartments.en-gb.html

Snowmanscarf · 26/12/2024 11:54

What weird house detail photos. The first few pictures are stairs and more stairs - hardly sells the property to you!

SydneyCarton · 26/12/2024 12:03

I quite liked the old kitchen with the green units and the big pine table. It's a lovely building but definitely not one for the enthusiastic amateur

Almostwelsh · 26/12/2024 12:05

I don't think old buildings in undesirable places are worth keeping just because they're old. That will probably never be renovated to a good standard and probably has major structural issues. It will be an eyesore.

If I had my way such buildings would be demolished and something modern built in it's place. I appreciate that's not legal in this case

debauchedsloth · 26/12/2024 12:05

"Fresh lick of paint" hahahaha

70isaLimitNotaTarget · 26/12/2024 17:27

What the Jeff is the gaping great hole on the wall in picture 6 behind the radiator ?

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