Development Site @ 188 High Street, Worle, North Somerset

Description

Freehold 4 bedroom detached cottage of 1,399 sq ft in need of modernisation, with multiple outbuildings totalling 3,759 sq ft, set within a 0.71-acre level plot of brownfield land. The property has positive pre-application feedback for up to 5 new build houses. No overage is applicable.

Accommodation

Existing detached 4 bedroom house measuring 1,399 sq ft, with multiple outbuildings totalling 3,759 sq ft.

Location

Located in central Worle, with parks, children's playgrounds, schools and shops within easy access. Weston-super-Mare provides further amenities and access to the M5 and Bristol.

Tenure / Property Information

Investment Analysis

The £350,000+ guide is the only supplied pricing evidence. No completed sales, rental comparables, development appraisal, planning consent, build-cost evidence or formal valuation has been provided. The site benefits from positive pre-application feedback for up to five new houses, but this does not establish consent, deliverable unit numbers or GDV. The existing vacant four-bedroom house and outbuildings require modernisation, with the scope and cost unquantified. A supported market value or maximum bid cannot therefore be calculated.

Investment Snapshot

Strategy Recommendation

Proceed only as a conditional development-site opportunity after independently verifying the pre-application feedback, planning prospects, site constraints, development costs and end values. Do not bid on a BTL or flip basis without rental and valuation evidence.

Works Required

Modernise the existing 1,399 sq ft four-bedroom house, subject to a full inspection and specification. Review the 3,759 sq ft of outbuildings and brownfield land for redevelopment potential, with planning, design, access, utilities and viability work required before relying on the pre-application feedback for up to five houses.

Rental & Market Context

Potential BRRR Position

A BRRR strategy cannot be underwritten from the supplied evidence. The acquisition guide is £350,000+ and the buyer premium is £1,800 including VAT, but refurbishment cost, completed value, rent and refinance value are unknown. Positive pre-application feedback may support future development investigation, but it does not establish a refinanceable GDV.

Buy-to-Let Analysis

BTL analysis is not currently supportable because no sufficiently specific rental evidence or auctioneer rent estimate has been supplied. The property is vacant, has EPC E, and requires modernisation; refurbishment, finance, management, maintenance and compliance costs are also unquantified. The £1,800 buyer premium including VAT and search costs should be allowed for in any acquisition appraisal.

Flip Analysis

A flip or development resale appraisal cannot be quantified because there is no supported GDV, planning consent, build-cost estimate, resale evidence or selling-cost allowance. The opportunity is potentially development-led, but the five-house reference is only pre-application feedback and must be independently verified before bidding.

Investor Risks & Due Diligence

• Positive pre-application feedback for up to five houses is not planning consent and does not guarantee deliverable units.

• Development GDV, build costs, professional costs and resale values are unsupported.

• The existing house is described as needing modernisation, but the works scope and cost are unknown.

• No sufficiently specific rental evidence has been supplied, so BTL income and yield cannot be established.

• The property is EPC E, and any future letting may require consideration of applicable minimum energy-efficiency requirements.

• Search costs are payable unless the buyer also purchases the specified 167 High Street property under the stated auction incentive.

• The buyer premium is £1,800 including VAT and must be paid on exchange.

Recommendation

Proceed only as a conditional development-site opportunity after independently verifying the pre-application feedback, planning prospects, site constraints, development costs and end values. Do not bid on a BTL or flip basis without rental and valuation evidence.

Strategy Rating

Analysis Confidence

The evidence confirms the property, tenure, vacancy, guide price, existing accommodation, land area and positive pre-application feedback, but provides no comparable sales, rents, planning consent, development valuation, refurbishment budget or build-cost evidence.