Land at Holgate Street/James Street, Great Harwood, Blackburn, Lancashire

Description

A freehold parcel of land extending to approximately 0.17 hectares (0.42 acres). The site comprises predominantly grass and scrubland and is offered with vacant possession. The site is identified within the Council's Strategic Housing Land Availability Assessment (SHLAA) as having capacity for approximately five dwellings, indicating its potential for residential development, subject to obtaining the necessary planning consents. This represents an opportunity for developers and investors to acquire a site with identified residential potential in an established residential location.

Location

The site is situated at the junction of Holgate Street and James Street in the popular Lancashire town of Great Harwood. The surrounding area is predominantly residential, with a range of local amenities, schools and shops within easy walking distance. Great Harwood town centre lies approximately 0.5 miles to the south, whilst the neighbouring towns of Blackburn and Accrington are readily accessible. The area benefits from good road connections via the A680 and A56, providing convenient access to the M65 motorway and the wider regional road network.

Tenure / Property Information

Investment Analysis

The £150,000+ guide is the only supplied price evidence. The site is approximately 0.42 acres and is identified in the Council’s SHLAA as having capacity for approximately five dwellings, but this is not planning permission. No completed land comparables, GDV evidence, planning consent, abnormal-cost assessment or detailed development appraisal has been supplied. Accordingly, a supported GDV, maximum bid and project-return calculation cannot be established. The buyer’s fee at the guide price would be £2,700, being 1.8% including VAT.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led land acquisition only. Proceed only after satisfactory legal review of the freehold and leasehold interests, planning due diligence, site investigations and a fully costed development appraisal; do not rely on the SHLAA capacity as consent.

Works Required

No refurbishment scope is evidenced. The potential project would involve obtaining planning consent for residential development, followed by any permitted site preparation, infrastructure, construction and external works, but no cost allowance can be supported from the supplied evidence.

Rental & Market Context

Potential BRRR Position

A BRRR strategy cannot be underwritten because there is no existing lettable property, no planning consent, no supported development cost, no GDV and no rental evidence. The freehold and leasehold interests also require legal due diligence before acquisition.

Buy-to-Let Analysis

BTL analysis is not applicable on the available evidence: the asset is vacant development land with no accommodation and no sufficiently specific rental evidence. Any future rental return would depend on obtaining consent and completing a residential scheme.

Flip Analysis

A development flip may be possible if residential planning consent is obtained, but the supplied SHLAA reference is only an indication of potential capacity. Without planning, completed land comparables, GDV, development costs, finance costs and selling costs, no reliable surplus can be calculated.

Investor Risks & Due Diligence

• Residential development is subject to obtaining the necessary planning consents.

• SHLAA identification and approximate capacity for five dwellings do not constitute planning permission.

• Both freehold and leasehold interests are being sold, and bidders must satisfy themselves regarding the legal position.

• No completed land comparables or supported GDV evidence has been supplied.

• No development, infrastructure, abnormal-cost or finance-cost allowance can be established from the evidence.

• Additional fees may be listed in the Special Conditions of Sale.

• The buyer’s fee is 1.8% including VAT of the purchase price, subject to the stated minimum.

Recommendation

Treat as a planning-led land acquisition only. Proceed only after satisfactory legal review of the freehold and leasehold interests, planning due diligence, site investigations and a fully costed development appraisal; do not rely on the SHLAA capacity as consent.

Strategy Rating

Analysis Confidence

The evidence confirms the approximate site area, guide price, tenure structure and SHLAA-indicated capacity, but provides no planning consent, comparables, GDV, development costs, abnormal costs, finance assumptions or rental evidence.