Land Adjacent to 27 Highgate, Nelson, Lancashire, BB9 0DU

Description

A Plot of Land Measuring Approximately 3,221 sq m (34,670 sq ft/ 0.8 Acres). Offered With Planning Permission for the Erection of 4 x Four Bedroom Houses.

Accommodation

Each dwelling will consist of: Ground Floor - two reception rooms (one with open plan kitchen), utility room, WC and integral garage. First Floor - four bedrooms (one with en-suite) and bathroom.

Location

The land is situated on a residential road close to local shops and amenities. The open spaces of Walverden Park are within easy reach. Transport links are provided by Nelson rail station.

Tenure / Property Information

Investment Analysis

The site is approximately 0.8 acres with planning permission for four four-bedroom houses. The only potentially relevant evidence is 17 Highgate, a detached property sold for £381,000 in 2022. Its size, specification and comparability to the proposed dwellings are not supplied, so a reliable GDV or residual land value cannot be established. The £2,995 transaction is categorised as Other and is not a usable residential comparable.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity requiring a full residual appraisal before bidding. Obtain the planning decision and conditions, quantity-surveyor construction budget, infrastructure allowances, professional costs, sales evidence and legal-pack review before setting a bid limit.

Works Required

Develop the site in accordance with the planning permission into four four-bedroom houses, including the stated accommodation, integral garages and associated construction works. Construction, infrastructure, professional and statutory costs are not supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR appraisal is not supportable from the evidence. There is no reliable GDV, development-cost estimate, rent, finance cost or refinance valuation. The known guide plus administration charge is £186,800 before any other costs, but this is not a complete project cost.

Buy-to-Let Analysis

BTL analysis cannot be established. No sufficiently specific rental comparable or auctioneer rent estimate is provided, and the development cost and final values are unknown.

Flip Analysis

A flip or development resale appraisal cannot be quantified. The 2022 Highgate sale at £381,000 provides only a single potentially relevant completed sale and does not establish the value of each proposed dwelling. Construction costs, selling costs and site-related costs are absent.

Investor Risks & Due Diligence

• Development and construction costs are not supplied.

• The comparability of the £381,000 2022 detached sale to the four proposed houses is unverified.

• Planning conditions, obligations and implementation requirements are not supplied.

• Disbursements and possible seller, legal, search and transfer costs may apply under the special conditions.

• No rental evidence is available for an investment or refinance appraisal.

Recommendation

Treat as a planning-led development opportunity requiring a full residual appraisal before bidding. Obtain the planning decision and conditions, quantity-surveyor construction budget, infrastructure allowances, professional costs, sales evidence and legal-pack review before setting a bid limit.

Strategy Rating

Analysis Confidence

The site area, proposed accommodation, tenure, planning description, guide and one potentially relevant sold comparable are supplied, but there is no detailed planning information, development-cost evidence, rental evidence, complete valuation evidence or buyer-cost schedule.