65 Leeds Road, Allerton Bywater, Castleford, West Yorkshire WF10 2HE

Description

Large development opportunity comprising a 530sqm (5,704sqft) former working man's club taken back to brickwork and requiring full renovation. The site extends to 0.5 acres including a large car park. Full planning permission (Ref 23/06699/FU) exists for the existing commercial building to form 9 self-contained apartments, plus retention of the existing residential flat.

Accommodation

Lower Ground Floor: Storage in Working Man's Club. Ground Floor: Former Working Man's Club; house with kitchen, bedroom and en-suite. First Floor: Four bedrooms, shower room and WC. Externally: Large car park. The existing residential dwelling includes a communal kitchen, 5 bedrooms (1 with ensuite), shared WC and shower room.

Location

Located in Allerton Bywater, a village between Leeds and Castleford. Shops, supermarkets, schools and a train station are found within Castleford, which is 2 miles away.

Tenure / Property Information

Investment Analysis

The £235,000 guide is broadly close to the two 2019 same-road freehold ‘Other’ sales at £240,000, but those sales are dated and do not establish the value of this larger, back-to-brick mixed-use redevelopment. The 9-apartment planning permission and retained residential flat provide potential, but no GDV, refurbishment cost or apartment comparables are supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after validating the planning consent, obtaining a detailed conversion/refurbishment tender, confirming existing tenancy income and commissioning a supported GDV appraisal.

Works Required

Full renovation from back to brickwork. Works would need to deliver the consented conversion of the former club into 9 self-contained apartments while retaining the existing residential flat. Detailed specifications and costs are not supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The project has a potentially useful planning consent and existing HMO income, but acquisition cost, full refurbishment cost, completed GDV and finance assumptions are unavailable. A 75% GDV refinance and cash-left-in calculation cannot therefore be supported.

Buy-to-Let Analysis

The £465 pcm figure is an advertised asking rent for a 5-bed property in WF10, not a passing rent for this property. On that unverified proxy, annual rent is £5,580 and gross yield on the £235,000 guide is approximately 2.37%. Actual HMO rents for the four tenanted bedrooms and operating costs are unavailable, so a reliable BTL assessment cannot be established.

Flip Analysis

A flip assessment cannot be quantified because no supported completed value, refurbishment allowance, resale costs or detailed conversion budget is provided. The dated £240,000 comparables are insufficient for valuing the consented 9-apartment scheme.

Investor Risks & Due Diligence

• Full renovation is required, but no cost plan or specification is supplied.

• The 9-apartment planning consent may require detailed verification and compliance with conditions.

• Four bedrooms are tenanted, but passing rents, tenancy terms and occupancy liabilities are not provided.

• The £465 rent is an advertised area asking rent rather than achieved or property-specific rent.

• Additional legal, search, transfer and seller-cost reimbursements may be payable and are unquantified.

• The supplied sales comparables are dated and are not demonstrated to be directly comparable to this redevelopment.

Recommendation

Do not bid on the current evidence alone. Proceed only after validating the planning consent, obtaining a detailed conversion/refurbishment tender, confirming existing tenancy income and commissioning a supported GDV appraisal.

Strategy Rating

Analysis Confidence

The description, planning reference, guide, fee basis, one rental advert and dated comparables are supplied, but there is no refurbishment budget, GDV evidence, passing rent schedule, legal-pack detail or current comparable evidence.