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

[HellsBalls]

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

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.

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 .

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.

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?

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

“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.

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

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.

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

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

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

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

"Fresh lick of paint" hahahaha

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