Land adjacent to Barfs Road, Distington, Cumbria CA14 5TG

Description

Residential development plot with Permission in Principle for up to nine dwellings, including an existing detached bungalow and derelict garage (PIP ref 4/26/2193/PIP).

Location

Land adjacent to Barfs Road, Distington, Cumbria CA14 5TG. The full postcode CA14 5TG is used for mapping. Local investment evidence is drawn from the Whitehaven market rather than a generic Cumbria average.

Investment Analysis

Investment Snapshot

Works Required

• Professional surveys and design / planning work

• Site, structural or fit-out works specific to the intended use

• Services, compliance and access works

• Contingency for legal/planning/site-condition risks

HB working allowance: £950,000–£1,250,000. This is an appraisal allowance based on the auctioneer's condition description and property type, not a contractor quotation.

Rental & Market Context

A standard residential rental appraisal is not appropriate to the lot in its present form. The investment case depends primarily on residential development, planning/use, remediation and exit value rather than an assumed AST rent.

Sold within 5m radius

• 156 Meadow Road, Whitehaven – 3-bed terrace – sold 15 May 2026 – £128,500

• 25 Tower Hill, Whitehaven – 3-bed semi – sold 11 May 2026 – £225,000

• 16 The Close, Whitehaven – 2-bed terrace – sold 30 Apr 2026 – £126,000

These are local-market comparables rather than guaranteed like-for-like matches. Allowing for condition, size and micro-location, HB uses an indicative end-value range of £1,500,000–£2,000,000 for this lot where a GDV is applicable.

GDV Assessment

HB indicative GDV/end value is £1,500,000–£2,000,000. This range is informed by the auctioneer's property facts, the current condition and the verified Whitehaven sold-market evidence above. It is an investment appraisal, not a RICS valuation; the lower end should be used for bid sensitivity.

Strategy Recommendation

Preferred strategy: Residential Development. The working acquisition range is £75,000–£90,000. The main reason is the relationship between the guide, required works and the achievable exit/income evidence. Risk is rated high because of the property-specific condition, tenure, planning or market factors noted above.

Potential BRRR Position

Standard BRRR is not the appropriate metric. Development finance, build-cost drawdowns, planning conditions and completed-scheme valuation should be modelled separately.

Flip Analysis

Working scenario: purchase £82,500, works £1,100,000, plus approximately £41,600 as an illustrative allowance for acquisition, finance/holding and selling costs. Total working cost is therefore about £1,224,100 against a mid-point GDV of £1,750,000, producing an indicative pre-tax margin of about £525,900 (30.1% of GDV). This is viable on the current assumptions and is highly sensitive to sale price and refurbishment overspend.

Investor Risks & Due Diligence

• Read the full legal pack, title and special conditions before bidding

• Confirm auction administration/buyer's fees and completion period

• Verify the scope and cost of works with a survey and contractor pricing

• Check planning/building-regulation status, access and services where relevant

• Confirm finance and insurance acceptability for the specific property type

• Re-check current rental and sold evidence immediately before setting a maximum bid

Maximum Bid Analysis

HB bidding sensitivity: guide £75,000+. The deal is strongest around £75,000–£75,000; above approximately £75,000 the margin/capital-recycling position begins to weaken on the conservative £1,500,000 GDV assumption. This is an investment-based bid indicator, not a valuation or bidding instruction.

Recommendation

Overall HB view: Residential Development. At the working purchase range of £75,000–£90,000, the opportunity can be attractive if the property-specific risks are resolved and the works remain within £950,000–£1,250,000. Confidence is high; the principal sensitivity is end value and refurbishment cost.

Strategy Rating

Development: ★★★★☆ | Income: ★★☆☆☆ | Resale: ★★★☆☆

Research Sources

https://www.auctionhouse.co.uk/cumbria/auction/lot/151851 | https://www.rightmove.co.uk/house-prices/whitehaven.html