Cockshotts Barn, Wesley Street, Sabden, Clitheroe, Lancashire BB7 9EH

Description

A traditional sandstone barn with planning consent for conversion into three attractive residential dwellings, offering an exciting development opportunity in the scenic village of Sabden. The property comprises a characterful stone barn beneath a slate roof, retaining a number of attractive original features including stone quoins, timber framing and a distinctive cart house door. The proposed scheme has been thoughtfully designed to preserve the building's traditional character whilst creating three contemporary, all-inclusive homes, incorporating open-plan living accommodation, modern kitchens and bathrooms, and a range of original-style architectural features. Planning permission was granted in October 2024 under application 3/2024/0530.

Accommodation

The conversion will provide three individual three-bedroom dwellings, each with well-proportioned accommodation and en-suite facilities. Plot 1: Entrance hall, open-plan kitchen/living area, WC, three double bedrooms including a principal bedroom with en-suite, and family bathroom. Private courtyard terrace and garden. Plot 2: Open-plan kitchen/dining area, sitting room, larder, gallery landing, three bedrooms including two with en-suite facilities, additional family bathroom and dressing room/home office. Garden and shed. Plot 3: Kitchen, dining area, lounge, WC and sunroom, together with three double bedrooms including a principal bedroom with en-suite, and family bathroom.

Location

Scenic village of Sabden.

Investment Analysis

The evidence confirms planning permission for conversion of the sandstone barn into three individual three-bedroom dwellings. The supplied sold comparables are existing individual houses on Wesley Street and are not sufficiently specific to establish reliable completed values for the proposed units. No floor areas, specification, build-cost evidence, rental evidence or detailed planning conditions are supplied. Accordingly, GDV, refurbishment cost, rent and maximum bid cannot be supported numerically.

Investment Snapshot

Strategy Recommendation

Proceed only after independently verifying the planning consent and conditions, obtaining a detailed conversion cost plan and securing evidence-based valuations or sales appraisals for all three proposed dwellings. Do not rely on the £140,000 guide alone to set a bid.

Works Required

Convert the traditional sandstone barn under the October 2024 planning consent into three three-bedroom residential dwellings, including the described open-plan living areas, kitchens, bathrooms, en-suite facilities, WC accommodation, bedrooms, gardens or courtyards and associated original-style features, while retaining the stated character features. No construction specification or cost plan is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. The guide is £140,000 plus a 2.4% buyer premium, subject to the stated £2,400 minimum; at the guide, the premium would be £3,360, before any additional special-condition fees. Build costs, completed GDV, finance costs and refinance valuation are not supplied.

Buy-to-Let Analysis

BTL cannot be assessed numerically because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The proposed scheme comprises three dwellings, but achievable rents, operating costs, finance costs and completed values are unknown.

Flip Analysis

A flip appraisal cannot be established because the cost of converting the barn and the completed sale values of the three proposed dwellings are unsupported. The supplied comparable sales range from £125,000 to £385,000 but concern individual existing houses and are not sufficiently specific for a reliable three-unit GDV.

Investor Risks & Due Diligence

• Conversion costs are wholly unsupported and could materially affect viability.

• The supplied sold comparables are existing individual houses rather than directly comparable completed units from this scheme.

• No floor areas, detailed specification or planning conditions are provided for valuation and costing.

• No rental evidence is available, preventing a supported BTL assessment.

• Additional fees may be payable under the Special Conditions of Sale.

• The guide price is not a confirmed purchase price and may be exceeded at auction.

Recommendation

Proceed only after independently verifying the planning consent and conditions, obtaining a detailed conversion cost plan and securing evidence-based valuations or sales appraisals for all three proposed dwellings. Do not rely on the £140,000 guide alone to set a bid.

Strategy Rating

Analysis Confidence

Planning description, guide, buyer premium and local completed sales are supplied, but there is no detailed valuation evidence for the proposed units, no build-cost information, no rental evidence, no floor areas and no full fee schedule.