Land at 93 Ingrow Lane, Keighley, West Yorkshire

Description

This corner plot of land is 0.098 acres (0.04 hectares), and is an ideal development opportunity for an investor. It has outline planning permission for two dwellings (Ref 24/01111/OUT), and has previously had planning permission (lapsed) for two 2-bedroom bungalows. Access is currently via the adjacent bungalow, however that is not included in the sale. Therefore, access will need to be formed from the road as per the planning. The land to be sold is outlined in red on the plans in the marketing. The bungalow outlined in blue is not included in the purchase.

Location

Located in the Ingrow area of Keighley, 1 mile from the town centre. There are shops, supermarkets and a train station in Keighley, and Oakbank Beckfoot School is a short walk.

Tenure / Property Information

Investment Analysis

The £46,000 guide reflects a development plot with outline permission for two dwellings, but the supplied evidence does not establish completed dwelling values, build costs, abnormal costs or residual land value. Nearby sales are existing houses and are not sufficient to calculate GDV for the proposed scheme.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal and planning packs, confirming access, obtaining a detailed build-cost appraisal and establishing supported end values.

Works Required

Form access from the road in accordance with the planning permission and develop two dwellings subject to the approved plans and all required conditions. Construction, professional and infrastructure costs are not supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR analysis cannot be completed without build costs, completed GDV, finance costs and supported post-completion rent. The outline permission and required new access create potential, but viability remains unquantified.

Buy-to-Let Analysis

BTL yield cannot be established because the plot has no completed accommodation and no supported passing or projected rent for the permitted dwellings. The £875 pcm evidence is an advertised asking rent for an unspecified two-bedroom property, not an achieved rent or confirmed scheme rent.

Flip Analysis

A flip surplus cannot be calculated. The evidence does not provide completed dwelling GDV, construction costs, professional fees, finance costs or selling costs. The supplied comparables are existing properties and are not direct development GDV evidence.

Investor Risks & Due Diligence

• Access currently uses the adjacent bungalow, which is excluded from the sale, so new road access must be formed.

• Permission is outline permission for two dwellings; detailed consent requirements and conditions are not supplied.

• The previous permission for two-bedroom bungalows has lapsed.

• Construction, infrastructure, professional, finance and selling costs are not supplied.

• Additional searches, seller costs, legal fees, transfer fees and disbursements may apply.

• The supplied rental figure is an advertised asking rent and is not confirmed for the proposed dwellings.

Recommendation

Proceed only after reviewing the legal and planning packs, confirming access, obtaining a detailed build-cost appraisal and establishing supported end values.

Strategy Rating

Analysis Confidence

Planning permission is identified, but there is no detailed scheme valuation, build-cost evidence, access-cost evidence, completed dwelling rent evidence or confirmed legal-pack costs.