Land Adjacent To, 12 Herberts Park Road, Wednesbury, West Midlands, WS10 8QH

Description

A vacant freehold rectangular parcel of land, which may be suitable for development subject to planning. Site area: 0.042 acres (170 sq. m). A broadly rectangular parcel of land circa 0.042 acres in size, located in a residential area. The land may be suitable for development or storage, subject to obtaining the necessary planning permissions.

Location

The land is situated in a great residential area, positioned between two existing houses and directly opposite a school. The entire site is road accessible, providing excellent access and making it an attractive opportunity for potential residential development, subject to the necessary planning permissions.

Tenure / Property Information

Investment Analysis

The evidence supports only a guide price of £15,000+ for the vacant 0.042-acre freehold parcel. The supplied £140,000, £160,000 and £143,000 sales relate to completed residential houses, not development land, so they do not establish a land value or GDV. No planning consent, scheme, residual valuation, access assessment, abnormal-cost assessment or build-cost evidence is supplied. The £2,700 buyer administration charge produces a known guide-plus-admin exposure of £17,700 before any other completion costs, taxes or special-condition charges.

Investment Snapshot

Strategy Recommendation

Only pursue as a planning-led land opportunity after satisfactory legal-pack review and independent planning feasibility. Do not underwrite it as BTL or assume residential development value from nearby house sales.

Works Required

No physical works are evidenced. The immediate requirement would be planning and development feasibility, including confirmation that the site can accommodate an acceptable scheme and review of access and any legal or site constraints. Any construction scope and cost remain unsupported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supportable at this stage. There is no planning consent, proposed accommodation, GDV, refurbishment or construction budget, and therefore no evidence-based refinance value or cash-out position. The known guide-plus-admin amount is £17,700 before other costs.

Buy-to-Let Analysis

BTL analysis is not supportable because the asset is vacant development land with no accommodation or established rental use. The supplied £467 pcm one-bedroom asking rent cannot be applied without an evidenced residential scheme and confirmed unit specification.

Flip Analysis

A flip surplus cannot be calculated. The residential sold comparables are not direct land comparables, while no planning-led GDV, build cost, professional cost, finance cost or supported selling allowance is supplied.

Investor Risks & Due Diligence

• Planning permission is not confirmed and development suitability is expressly subject to obtaining the necessary permissions.

• No GDV or residual land valuation can be established from the supplied evidence.

• The supplied sold comparables are residential houses rather than development-land transactions.

• Additional special-condition costs are unknown, and stamp duty or government taxes are excluded from the stated administration fee.

• No construction, professional, abnormal or finance costs are supplied.

• The £467 pcm rental evidence is an advertised asking rent for a one-bedroom property and is not applicable to the vacant land without an evidenced scheme.

Recommendation

Only pursue as a planning-led land opportunity after satisfactory legal-pack review and independent planning feasibility. Do not underwrite it as BTL or assume residential development value from nearby house sales.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, site size, access description, guide and one known charge, but provides no planning position, development scheme, land comparables, costs or supported end value.