14, Spa Lane, Ossett, West Yorkshire, WF5 0HN

Description

A unique opportunity to acquire a detached three-bedroom bungalow set within substantial grounds, accompanied by extensive land and a range of useful barns and outbuildings. The property offers potential for agricultural, equestrian, commercial storage or redevelopment uses, subject to planning permissions and consents. The bungalow presents an opportunity for modernisation, extension or reconfiguration. The land may appeal for grazing, hobby farming, smallholding, livestock keeping, agricultural diversification or future business ventures. The barns and outbuildings offer storage, workshop, agricultural or vehicle accommodation uses, subject to the necessary permissions.

Accommodation

Detached three-bedroom bungalow with living accommodation, extensive land, barns and outbuildings.

Location

Highly desirable position within Ossett, with views across its own land and convenient access to local amenities and transport links.

Tenure / Property Information

Investment Analysis

The only completed comparable is 9 Spa Lane at £300,000 in February 2015. It is an older sale and does not establish the value of this three-bedroom bungalow with extensive land, barns and outbuildings. The £775,000 guide is not a formal valuation. There is insufficient evidence to support a GDV or reliable low/base/high valuation range.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain specialist valuation and legal advice covering the bungalow, land, barns and outbuildings, together with condition, title, planning and potential additional seller fees before considering a purchase.

Works Required

Modernisation, extension or reconfiguration of the bungalow may be considered, as expressly indicated in the description. No specific defects, specification or cost evidence is supplied. Any works to barns, outbuildings or land uses would be subject to appropriate planning permissions and consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be calculated because refurbishment costs, a supported GDV, finance costs and a property-specific refinance valuation are unavailable. The £1,800 inclusive buyer administration charge is known, while potential seller completion fees are unspecified. Planning and consents may also affect the land, barns and outbuildings.

Buy-to-Let Analysis

The supplied rental evidence is a broad West Yorkshire asking rent of £2,000 pcm for three-bedroom properties, not a property-specific achieved rent. Using it indicatively gives £24,000 annual rent and approximately 3.1% gross yield against the £775,000 guide, before finance, operating costs, refurbishment and fees. A reliable BTL assessment cannot be completed from the evidence.

Flip Analysis

A flip surplus cannot be established. The available £300,000 comparable dates from 2015 and does not adequately evidence the value of this property’s bungalow, land, barns and outbuildings. Works costs and any supported resale allowance are also unavailable.

Investor Risks & Due Diligence

• The only completed comparable is a 2015 sale and may not reflect current value or the additional land and outbuildings.

• Potential agricultural, equestrian, commercial storage, redevelopment and other uses are subject to planning permissions and consents.

• The bungalow is described as offering modernisation, extension or reconfiguration, but no condition survey or works specification is supplied.

• The £2,000 pcm rental evidence is a broad advertised asking rent for West Yorkshire, not an achieved or property-specific rent.

• Parking and heating information is not supplied.

• The seller may charge additional completion fees, but the amount is not provided.

• Barn and outbuilding uses may require further permissions and consents.

Recommendation

Do not bid on the current evidence alone. Obtain specialist valuation and legal advice covering the bungalow, land, barns and outbuildings, together with condition, title, planning and potential additional seller fees before considering a purchase.

Strategy Rating

Analysis Confidence

The property description, tenure, guide, one dated comparable, broad asking-rent evidence and one known buyer charge are supplied, but there is no supported GDV, works budget, detailed condition, property-specific rent, planning information or complete fee schedule.