Land Adjacent to 10 Hurtley Street, Burnley, Lancashire

Description

A flat, rectangular grassed plot historically occupied by terraced housing now laid to grass. Permission in principle has been allowed for the erection of one building to accommodate up to six flats. Ref PIP/2026/0028.

Accommodation

Permission in principle has been allowed for the erection of one building to accommodate up to six flats.

Tenure / Property Information

Investment Analysis

The £50,000 guide is supported only by one nearby completed sale: 32 Hurtley Street, a freehold terraced house sold for £39,999 in August 2025. This is not a directly comparable development-land sale, so no evidence-supported GDV, land value, or maximum bid can be established. The plot benefits from permission in principle for one building containing up to six flats, but full planning, design, construction and viability evidence is not supplied.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity only after reviewing the legal pack and obtaining detailed planning, build-cost, utility and valuation advice. Do not rely on the supplied evidence for a development bid above the guide.

Works Required

Progress the permission-in-principle opportunity through detailed design and any required planning approvals, followed by construction of one building accommodating up to six flats. No construction specification, surveys, utilities information or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten because GDV, build costs, completed flat values, rents and finance costs are unsupported. The 2.75% buyer administration charge is subject to a £3,600 minimum; at the £50,000 guide, the stated charge would be £3,600, before any disbursements or other fees.

Buy-to-Let Analysis

A BTL appraisal cannot be established. The supplied rents are advertised asking rents for two-bedroom houses, not achieved rents for newly developed flats, and no flat mix, specification or operating costs is provided.

Flip Analysis

A flip appraisal cannot be established. There is no supported GDV, construction budget, professional-fee allowance, programme, finance cost or selling-cost allowance. The single nearby house sale is not a direct comparable for a six-flat development.

Investor Risks & Due Diligence

• Permission in principle is not the same as detailed planning permission.

• The consent is described as being for up to six flats, so the final permitted scheme and capacity are not established.

• No construction, professional, finance, utility or abnormal-cost evidence is supplied.

• The only completed comparable is a terraced house rather than development land or flats.

• The stated buyer administration charge has a £3,600 minimum at the £50,000 guide.

• Legal-pack disbursements and other possible special-condition costs are unknown.

Recommendation

Treat as a planning-led development opportunity only after reviewing the legal pack and obtaining detailed planning, build-cost, utility and valuation advice. Do not rely on the supplied evidence for a development bid above the guide.

Strategy Rating

Analysis Confidence

The evidence confirms freehold land and permission in principle for up to six flats, but provides no development valuation, build costs, detailed consent, flat values, relevant rental evidence or full fee schedule.