Land at Porsponder Place, Cawsand, Torpoint

Description

Situated close to the amenities available in Cawsand Village. Cawsand Beach is also nearby. A Freehold Plot of Land of approximately 3,750 sq ft. Planning Consent was previously granted by Cornwall Council on 13th January 2020 for the Construction of Two x One and a Half Bedroom Apartments. This planning has now lapsed. Copies of the plans and consent are available for inspection. Lapsed Planning Reference: PA20/00061.

Location

Situated close to the amenities available in Cawsand Village. Cawsand Beach is also nearby.

Tenure / Property Information

Investment Analysis

The supplied completed sales evidence is for semi-detached and terraced houses in Green Park, Cawsand, rather than apartments or development land. Prices range from £230,000 to £280,000 for the more recent semi-detached sales, but these cannot reliably establish the GDV of two proposed 1.5-bedroom apartments. The previous planning consent for two apartments has lapsed, and no current planning position, build-cost evidence, plans, specification or rental evidence is supplied.

Investment Snapshot

Strategy Recommendation

Only consider after reviewing the historic plans, confirming title and site constraints, and obtaining planning and construction advice. Treat as a speculative land acquisition rather than a priced BTL, BRRR or flip opportunity.

Works Required

The historic proposal was for construction of two 1.5-bedroom apartments. The supplied evidence supports investigating a new or renewed planning application and reviewing the historic plans and consent. Construction scope, site preparation, services, professional fees and external works cannot be specified from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be quantified. There is no supported GDV, rent, construction budget or refinance valuation. The historic apartment consent has lapsed, creating planning risk before any development or refinance assumptions can be made. The guide price is £25,000+, with a £1,500 inclusive-of-VAT buyer premium at or above £10,000, while additional seller fees may apply under the special conditions.

Buy-to-Let Analysis

A BTL assessment cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The site is currently land with lapsed apartment planning, not an income-producing dwelling, and development and finance costs are unavailable.

Flip Analysis

A development flip cannot be underwritten from the supplied evidence. The residential comparables are not sufficiently comparable to the proposed apartments, and no construction, professional, finance, sales or other project costs are provided. Any resale surplus would therefore be unsupported.

Investor Risks & Due Diligence

• Planning consent for the two apartments has lapsed and a new application may not be approved.

• No current planning, title, access, servicing or site-constraint evidence is supplied.

• No construction, professional, finance or sales cost estimates are available.

• The supplied sold comparables are houses rather than the proposed apartments or development land.

• No sufficiently specific rental evidence is available.

• The seller may charge additional fees under the special conditions of sale.

Recommendation

Only consider after reviewing the historic plans, confirming title and site constraints, and obtaining planning and construction advice. Treat as a speculative land acquisition rather than a priced BTL, BRRR or flip opportunity.

Strategy Rating

Analysis Confidence

The evidence confirms freehold land, a lapsed historic consent and a guide price, but lacks current planning status, build costs, valuation evidence for the proposed apartments, rental evidence and full completion costs.