Land at Oxleaze Way, Paulton, BS39 7AN

Description

0.8 acre development site with detailed planning permission for 8 x three and four bedroom homes, comprising a mix of detached and semi-detached houses. The site is rectangular, broadly level and has been cleared. Full planning permission was granted under B&NES Planning reference 22/01348/FUL.

Accommodation

The consented scheme proposes 5 x House Type A: 4 bedrooms, detached, 3 bathrooms, utility and integral garage, 1,592 ft² / 148 m² each; 2 x House Type B: 3 bedrooms, semi-detached, 2 bathrooms, utility and parking, 1,126 ft² / 105 m² each; and 1 x House Type C: 4 bedrooms, detached, 3 bathrooms, utility and parking, 1,524 ft² / 142 m². Total GIA: 1,090 m² / 11,736 ft².

Location

Paulton is a village within Bath & North East Somerset, situated between Hallatrow and Midsomer Norton. Radstock lies approximately 3.7 miles to the south east and Bath approximately 9.0 miles to the north east. The A37 lies approximately 1.8 miles to the west, providing access to Bristol to the north and Shepton Mallet to the south.

Tenure / Property Information

Investment Analysis

The site has detailed planning permission for 8 homes with total consented GIA of 11,736 ft². The supplied completed sales are five terraced houses in Paulton, ranging from £310,000 to £328,000, with an average of £320,700, but they are not sufficiently comparable to the consented detached and semi-detached houses and do not support a reliable scheme GDV. No build-cost, professional-fee, finance, sales-cost or infrastructure-cost evidence is supplied. The guide is £200,000–£250,000, with VAT applicable to the sale price, a £1,800 buyer premium and a stated CIL liability of £153,796.76.

Investment Snapshot

Strategy Recommendation

Consider only as a planning-led development opportunity after obtaining a full residual appraisal, verified planning conditions, build-cost tender, CIL confirmation and scheme-specific comparable evidence. Do not rely on the supplied figures for a bid decision.

Works Required

Development of the cleared, broadly level 0.8-acre site in accordance with planning permission 22/01348/FUL: 5 detached four-bedroom Type A houses, 2 semi-detached three-bedroom Type B houses and 1 detached four-bedroom Type C house. The evidence does not provide construction specifications, infrastructure requirements or costings.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supported by the evidence. The site requires development before any refinanceable residential units exist, while GDV, build costs, finance costs, valuation costs and completed-unit rents are unavailable. VAT and the stated CIL liability materially affect the required capital.

Buy-to-Let Analysis

This is a vacant development site rather than an income-producing property. The supplied rental evidence is not clearly attributable to the consented homes: one is a generic four-bedroom asking rent of £2,700 pcm and the other is a £640 pcm advertised rent with no matching property details. A reliable rental value or BTL yield cannot therefore be established.

Flip Analysis

A development resale strategy may be possible because detailed planning permission is stated, but the supplied terraced-house sales cannot reliably establish GDV for the larger detached and semi-detached consented homes. No build-cost or disposal-cost evidence is provided, so project surplus and a viable maximum bid cannot be calculated.

Investor Risks & Due Diligence

• VAT applies to the sale price and the buyer premium is £1,800 including VAT.

• The stated CIL Liability Notice is £153,796.76 and its final payable amount, timing and treatment have not been verified.

• The supplied sold comparables are terraced houses and may not represent the value of the consented detached and semi-detached homes.

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

• Planning conditions, implementation requirements and any abnormal site costs are not supplied.

• The generic rental listings do not establish achievable rents for the proposed homes.

Recommendation

Consider only as a planning-led development opportunity after obtaining a full residual appraisal, verified planning conditions, build-cost tender, CIL confirmation and scheme-specific comparable evidence. Do not rely on the supplied figures for a bid decision.

Strategy Rating

Analysis Confidence

Planning, accommodation, guide, VAT, buyer premium, CIL and limited local completed-sale evidence are supplied, but there is no scheme-specific GDV, build cost, development programme, finance cost, disposal cost or reliable completed-home rent evidence.