Development Site @ Horton Cross Ilminster, Somerset, TA19 9PY (Land formerly known as The Lamb Inn)

Description

Freehold parcel of land of circa 1.1 acres in Horton Cross, Somerset, with Outline Planning granted in 2025 for up to 9 dwellings. The sellers have prepared an indicative scheme of 9 dwellings, including 6 four-bedroom houses and 3 three-bedroom houses, subject to necessary consents.

Accommodation

Indicative scheme of 9 dwellings: 6 x 4-bedroom houses and 3 x 3-bedroom houses, subject to necessary consents.

Location

Horton Cross, close to the A358 and A303. Horton and Broadway form an active community with a post office/stores, primary school, doctors surgery, village halls, churches and two village inn/restaurants. Ilminster lies less than three miles to the east.

Tenure / Property Information

Investment Analysis

Freehold development site of circa 1.1 acres with Outline Planning granted in 2025 for up to 9 dwellings. The indicative scheme comprises 6 four-bedroom and 3 three-bedroom houses, subject to necessary consents. No supported GDV, build-cost, infrastructure-cost, sales-value or viability evidence has been supplied. The two historic Land Registry comparables relate to Horton Manor and are not sufficiently specific to value this development site.

Investment Snapshot

Strategy Recommendation

Undertake full planning, technical, construction-cost and end-value due diligence before bidding. Do not rely on the guide price alone to establish development viability.

Works Required

Progress the outlined residential development for up to 9 dwellings, subject to all necessary consents. The supplied evidence does not establish detailed design, highways, drainage, utilities, demolition, groundworks or construction requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR analysis cannot be established from the supplied evidence. GDV, construction costs, professional costs, finance costs, programme and completed rental values are all unsupported. The £1,500 plus VAT buyer premium is known, but total project cost cannot be calculated.

Buy-to-Let Analysis

Not suitable for a supported BTL calculation at this stage. The asset is a vacant development site, no completed dwellings exist, and no sufficiently specific rental evidence or build-cost data has been supplied.

Flip Analysis

A development resale analysis cannot be quantified. The indicative 9-home scheme and 2025 Outline Planning provide a potential development basis, but no supported end values, construction budget, infrastructure allowance, selling costs or profit calculation are supplied.

Investor Risks & Due Diligence

• Outline Planning is for up to 9 dwellings and the indicative scheme remains subject to necessary consents.

• No detailed construction, infrastructure, utilities, highways, drainage or ground-condition information is supplied.

• No supported end values or development-cost appraisal is available.

• No sufficiently specific rental evidence is available.

• The £395,000 guide is subject to additional buyer premium of £1,800 including VAT, with no other project costs established.

• Completion is stated as 8 weeks or earlier subject to mutual consent, creating a potentially short funding and due-diligence period.

Recommendation

Undertake full planning, technical, construction-cost and end-value due diligence before bidding. Do not rely on the guide price alone to establish development viability.

Strategy Rating

Analysis Confidence

Planning outline and indicative unit mix are supplied, but there is no supported GDV, build-cost, infrastructure-cost, finance-cost, rental or detailed comparable evidence.