Building Plot, Wigton Road, Carlisle, Cumbria CA2 6JY

Description

Freehold building plot for detached house. A freehold building plot situated on this western arterial road, between Nos. 217 and 219 Wigton Road, with easy access to the City centre and ring road. Cumberland Council have granted planning approval for 1 dwelling (Ref 24/0424) and there are proposed plans for a three bedroomed detached house.

Accommodation

Proposed plans for a three bedroomed detached house.

Location

Situated on the western arterial road between Nos. 217 and 219 Wigton Road, with easy access to Carlisle city centre and the ring road.

Tenure / Property Information

Investment Analysis

The £45,000 guide is for a freehold building plot with planning approval for one dwelling under Ref 24/0424. Local completed sales on Wigton Road range from £120,000 to £229,950, but all supplied comparables are semi-detached properties and no floor area, specification, detached comparable or completed-build cost evidence is provided. A supported GDV and maximum bid therefore cannot be established. The 1.2% administration charge would be subject to the stated £1,500 minimum at the guide price; buyer premium and other disbursements are unspecified.

Investment Snapshot

Strategy Recommendation

Proceed only after full legal-pack, planning, service and build-cost due diligence. Treat this as a development opportunity rather than an immediately lettable investment; do not bid on the supplied evidence alone.

Works Required

Construct the approved three-bedroom detached house in accordance with planning permission Ref 24/0424 and the proposed plans. Confirm planning conditions, services, access, boundaries, specification and all legal-pack requirements before bidding. No construction cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy may be possible only after acquiring the plot, constructing the approved dwelling and refinancing against a supported completed-property valuation. The supplied evidence does not establish build cost, end value, finance costs or refinance proceeds, so cash recycling and returns cannot be calculated.

Buy-to-Let Analysis

The plot is not currently a completed or lettable dwelling, so BTL yield cannot be established. The supplied £825 pcm figure is an advertised asking rent for three-bedroom houses in Newtown Meadows, not achieved rent and not specifically confirmed for this proposed property. Build cost, finance, letting costs and completed valuation evidence are unavailable.

Flip Analysis

A flip would require acquiring the plot, completing the approved detached house and reselling it. The supplied sold evidence consists only of semi-detached properties ranging from £120,000 to £229,950, with no detached or size-matched comparable and no build-cost allowance. Flip surplus is therefore unsupported.

Investor Risks & Due Diligence

• Construction costs and programme are entirely unsupported by the supplied evidence.

• The supplied sales comparables are semi-detached rather than detached and vary materially in price.

• Planning approval Ref 24/0424 and all conditions should be verified in the legal pack.

• Services, access, boundaries and any site constraints are not evidenced.

• Buyer premium, seller-cost reimbursement, legal fees, transfer fees and other disbursements may apply and are not quantified.

• The £825 pcm figure is an advertised asking rent for another area and is not an achieved rent or confirmed rent for the proposed dwelling.

Recommendation

Proceed only after full legal-pack, planning, service and build-cost due diligence. Treat this as a development opportunity rather than an immediately lettable investment; do not bid on the supplied evidence alone.

Strategy Rating

Analysis Confidence

Planning approval, proposed dwelling type, guide price, local completed sales and one nearby advertised rent are supplied, but there is no construction cost, floor area, detached comparable, completed GDV, finance evidence or complete fee schedule.