Modern Method of Auction
Auction date not yet published
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See how verdicts work2-bedroom bungalow · NG16 5GQ
For saleReduced £50k (−20%) on 21 OctListed 91 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Summary Being Sold via Secure Sale online bidding. Terms & Conditions apply. Offered for sale is this two bedroom detached bungalow in need of modernisation in the popular village of Underwood.
Set on a larger than average plot the property is ideal for development internally as well as potential for extensions subject to any planning consent.
The double glazed and gas centrally heated accommodation comprises of an entrance porch, entrance hall, lounge, kitchen, utility room two bedrooms and shower room.
Outside there is a garden to the front of the property, driveway and garage. Access to the side leads to the large enclosed garden to the rear.
Viewing is strongly recommended to the development opportunity this property has to offer. Council Tax Band: C Tenure: Freehold Entrance Porch Glazed door, access to the entrance hall.
Entrance Hall Access given to the lounge, kitchen, two bedrooms and shower room.
Lounge (5.59m x 4.62m) Two double glazed patio door opening onto the enclosed rear garden, gas fire with fire surround, central heating radiator.
Kitchen (3.89m x 3.23m) Comprising of twin sink bowls with mixer taps set into the work surfaces, a range of base and wall units, space for gas cooker, extractor hood. Space for fridge freezer.
Central heating radiator. Door to the utility room . Window to the rear elevation.
Utility Room (1.83m x 1.85m) Double glazed window to the side elevation and window to the front elevation, upvc door leading to the enclosed rear garden.
Wall mounted boiler, plumbing for automatic washing machine. Bedroom One (4.32m x 3.45m) Double glazed window to the front elevation, fitted wardrobes and central heating radiator.
Bedroom Two (3.76m x 2.74m) Double glazed window to the front elevation and central heating radiator.
Shower Room Frosted double glazed window to the side elevation, white suite comprising of shower cubical with shower over, wash hand basin and low flush wc. Storage cupboards below sink unit.
Chrome heated towel rail. Front Garden Garden to the front of the property mainly laid to lawn. Driveway leads to the garage. Gated access to the side leading to the enclosed rear garden.
Rear Garden Large enclosed rear garden with patio area and being mainly laid to lawn. Mature shrubs and trees. Hedged borders.
Auctioneers Additional Comments Pattinson Auction are referred to as The Auctioneer.
This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer.
The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website.
The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer.
Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively.
The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures.
Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price.
The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change.
An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction.
A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding.
The Legal Pack will also outline the buyers obligations and sellers commitments.
It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price.
The deposit will form part of the purchase price.
A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale.
The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs.
Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received.
There is no requirement or obligation to use any recommended suppliers or services.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
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FAQ
About 117, Main Road, Nottingham
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