Case study · Bedworth, Warwickshire
46 & 46A Newtown Road
Two self-contained one-bedroom flats on a single freehold title, acquired pre-auction and taken through a full buy-refurbish-refinance cycle. Our proof of concept, and the template for what follows.
At a glance
- Acquisition
- £140,000
- Structure
- Two flats, one freehold
- Purchased
- Pre-auction
- Refinance target
- Q4 2026
- Refurbishment scope
- To be confirmed
- Post-works valuation
- To be confirmed
The opportunity
Two units, one title, one transaction.
A single freehold containing two separate one-bedroom flats is an awkward proposition for most buyers. Owner-occupiers cannot use it. Many lenders will not touch it without a specific product. That awkwardness is precisely where the value sits — it thins the buyer pool and softens the price.
For an investor it is the opposite of a problem: two independent rental incomes, one set of legal fees, one transaction, one freehold to manage. The flats sit close to Bedworth town centre and within easy reach of Coventry and Nuneaton, in the sort of location that lets consistently to single professionals rather than sitting empty between tenancies.
The process
How the deal has run.
Identified
Two self-contained one-bedroom flats held on a single freehold title, listed for auction and under-marketed relative to the local comparables.
Secured pre-auction
Acquired before the auction date at £140,000 — ahead of competitive bidding, on terms agreed directly with the vendor.
Refurbishment
A defined works schedule across both flats to bring each to a lettable standard. Scope costed before commitment rather than discovered along the way.
Let
Both units tenanted, establishing the rental evidence a lender needs to value the asset on its income.
Refinance
Targeted for the fourth quarter of 2026: refinancing against the improved value to release capital while retaining the asset.
Why it matters
A first deal is a track record, not a portfolio.
Newtown Road is deliberately unremarkable. It is not a development, a conversion, or a clever structure — it is an under-priced asset bought properly, improved sensibly, and kept. That is the whole strategy, and proving it on one property is what earns the right to do it on the next ten.
Full figures, the refurbishment schedule and the refinance assumptions are set out in the information pack shared with prospective partners.