Land adj to 19 Greenway Close, Fakenham, Norfolk NR21 8DE

Description

Building plot with planning permission to build a pair of semi detached houses. Situated in a residential area of the Norfolk town of Fakenham. Building plot measuring approximately 20m wide and 30m deep (stms). Planning permission was granted for a pair of semi detached houses on 9th October 2025. Planning reference: PF/22/2392.

Accommodation

The pair extend to 1000 sq/ft. Both have their own drive with parking areas and offer hall entrance, living room, W.C., and kitchen/family room to rear. Upstairs offers a landing, two generous sized bedrooms and family bathroom.

Location

Situated in a residential area of Greenway Close in the Norfolk market town of Fakenham.

Tenure / Property Information

Tenure	Freehold
Parking	Each house has its own drive with parking areas.
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

The site has planning permission granted on 9 October 2025 under reference PF/22/2392 for a pair of semi-detached houses extending to approximately 1,000 sq ft in total. The strongest supplied comparable is 14 Greenway Close, a semi-detached freehold property sold for £146,000 in December 2024. Applying this as a simple indication to two houses suggests a base GDV of £292,000, but this is not a formal valuation because the comparable's size, condition and specification are not supplied. Other Greenway Close sales range from £140,000 to £265,000 and include different property types and sale dates.

Investment Snapshot

Guide Price	£80,000 (plus fees)
HB Estimated GDV	£292,000

Strategy Recommendation

Treat as a planning-led residential development opportunity rather than a conventional BTL. Proceed only after verifying the planning permission and legal pack and obtaining a full build-cost, professional-fee, finance and resale appraisal.

Works Required

Construct the approved pair of semi-detached houses in accordance with planning permission PF/22/2392, including the described hall, living room, WC, kitchen/family room, two bedrooms and bathroom for each dwelling, together with the individual drives and parking areas. Detailed build costs, external works and professional fees are not supplied.

Rental & Market Context

Properties to let - Norfolk Roots Estate Agents in Fakenham ... — — Advertised asking rent

£1,100 pcm

Sold Comparables

The following completed sales were identified within approximately 5 miles:

14, Greenway Close, Fakenham, North Norfolk, Nr21 8de 2024-12-17 · Semi-Detached · Freehold	£146,000
26, Greenway Close, Fakenham, North Norfolk, Nr21 8de 2023-02-10 · Detached · Freehold	£265,000
20, Greenway Close, Fakenham, North Norfolk, Nr21 8de 2022-02-10 · Semi-Detached · Freehold	£245,000
25, Greenway Close, Fakenham, North Norfolk, Nr21 8de 2015-03-27 · Terraced · Freehold	£140,000
20, Greenway Close, Fakenham, North Norfolk, Nr21 8de 2014-02-07 · Semi-Detached · Freehold	£168,000

Potential BRRR Position

Base GDV	£292,000
75% Refinance	£219,000

A potential development/refinance route exists because planning permission is stated to be in place. On the indicative £292,000 base GDV, 75% refinance equates to £219,000. Total development cost cannot be calculated because no construction, professional, finance or external works costs are supplied; therefore cash left in and viability remain unconfirmed.

Buy-to-Let Analysis

BTL analysis cannot be completed reliably. The supplied £1,100 pcm figure is an advertised asking rent, but it is not stated whether it relates to one house or both houses. Build costs, finance costs and operating costs are also unavailable, so gross yield cannot be established.

Flip Analysis

A completed-sale strategy may be possible, with an indicative base GDV of £292,000 derived from two times the £146,000 Greenway Close semi-detached comparable. However, no build cost, selling allowance or complete project budget is supplied, so flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Construction and external works costs are not supplied, preventing a reliable total project cost or maximum bid calculation.

• Planning permission and any conditions, obligations or expiry requirements must be verified in the legal pack and planning documents.

• Special-condition disbursements, search fees, seller costs, legal fees and transfer fees may become payable but are not quantified.

• The GDV indication relies mainly on one same-street semi-detached comparable; the supplied comparables vary by property type, size and sale date.

• The £1,100 pcm advertised rent is not identified as applying to one completed house or the pair, and is not an achieved rent.

• No selling, finance, professional or taxation costs are supplied, so development profit cannot be established.

Recommendation

Treat as a planning-led residential development opportunity rather than a conventional BTL. Proceed only after verifying the planning permission and legal pack and obtaining a full build-cost, professional-fee, finance and resale appraisal.

Strategy Rating

HB Rating

★★★☆☆

Analysis Confidence

Confidence

Low-Medium

Planning description, site dimensions, accommodation, tenure, auction fees and several local sold comparables are supplied, but there are no build costs, professional fees, finance assumptions, detailed planning conditions, selling costs or unambiguous rental evidence.