Land adjoining Bordriggs Farm, Kendal Road, Bowness-On-Windermere, Windermere, Cumbria LA23 3HU

Description

An irregular shaped area of open grass land surrounding Bordriggs Farm extending to approximately 2.4 acres (0.9 ha), bounded by post and rail fences on all sides. The site may suit a variety of alternative uses and potential speculative development, subject to the relevant consents being obtained. Planning application 7/2024/5076 for the erection of up to 5 dwellings with associated infrastructure and ancillary facilities was refused on 4 June 2024.

Location

The site is located close to the banks of Lake Windermere and Windermere Marina Village within the Lake District National Park.

Tenure / Property Information

Investment Analysis

The £455,000 guide is not independently supported by the supplied evidence. The three completed sales are nearby properties, including cottages and another property, rather than comparable development land, so they cannot establish a reliable site value or GDV. The land is approximately 2.4 acres in the Lake District National Park, and the application for up to five dwellings was refused on 4 June 2024. Any alternative use or development remains subject to relevant consents.

Investment Snapshot

Strategy Recommendation

Treat this as a planning-led speculative land acquisition only if independent planning advice supports a credible alternative use and the price reflects the refused residential application. Do not underwrite residential development, BTL or a flip without consent, valuation and cost evidence.

Works Required

No physical refurbishment works are evidenced. Any future project would require planning, design, infrastructure and ancillary works appropriate to an authorised use, but the required scope and cost cannot be established from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not currently supportable. There is no evidenced completed residential scheme, GDV, rent, works budget or refinance valuation. The previous application for up to five dwellings was refused, creating material planning uncertainty.

Buy-to-Let Analysis

BTL analysis is not supported. The property is open grass land with no accommodation or sufficiently specific rental comparable, and no auctioneer rent estimate is provided. There is therefore no evidenced rental income or yield.

Flip Analysis

A flip appraisal cannot be established because no consented scheme, development costs, resale GDV or selling allowance is supplied. The nearby sold comparables are not directly comparable to the land. The 2.75% buyer administration charge would be £12,512.50 at the £455,000 guide, before any other stated costs, but total project cost remains unknown.

Investor Risks & Due Diligence

• Planning application 7/2024/5076 for up to five dwellings was refused on 4 June 2024.

• Any alternative use or development is subject to relevant consents.

• The site is within the Lake District National Park, creating planning and policy uncertainty.

• No development costs, infrastructure costs or resale GDV are supplied.

• The nearby sold comparables are properties rather than directly comparable development land.

• Additional disbursements, search fees, sellers' costs, legal fees and transfer fees may be payable under the auction terms.

Recommendation

Treat this as a planning-led speculative land acquisition only if independent planning advice supports a credible alternative use and the price reflects the refused residential application. Do not underwrite residential development, BTL or a flip without consent, valuation and cost evidence.

Strategy Rating

Analysis Confidence

The guide, site size, tenure, planning refusal, buyer administration charge and nearby completed sales are supplied, but there is no comparable land evidence, consented scheme, development appraisal, rental evidence, GDV, works budget or full legal-cost information.