Land at Walney Gardens, and Manxman Road, Blackburn, Lancashire

Description

Freehold plot of land situated at the head of Walney Gardens with frontage to Manxman Road, in a residential area. Considered suitable for a variety of uses, subject to the required consents being obtained. All interested parties are advised to consult with the local planning authority with regard to their intended use, prior to bidding.

Location

Situated at the head of Walney Gardens with frontage to Manxman Road, in a residential area.

Tenure / Property Information

Investment Analysis

The evidence confirms a freehold land plot in a residential area, but provides no plot size, planning consent, permitted use, services, development scheme or land-specific comparable sales. The nearby £151,000 sale is for a semi-detached house and cannot support a land GDV. The advertised £500 pcm rent relates to a three-bedroom property and is not applicable to this plot. Consequently, no supported GDV, rent, yield or maximum bid can be established.

Investment Snapshot

Strategy Recommendation

Do not bid on investment assumptions alone. Proceed only after independent planning, legal, access, services and development-feasibility checks establish a specific permitted use and residual land value.

Works Required

No physical works can be specified from the evidence. The immediate requirements are planning and use feasibility checks, review of the legal pack, confirmation of boundaries, access and services, and assessment of any intended scheme with the local planning authority before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not assessable. There is no supported acquisition-to-development value, planning position, works budget, completed accommodation or refinance valuation. The stated administration charge alone would be the greater of 2.75% of price or £3,600 including VAT, with other possible charges and buyer premium unspecified.

Buy-to-Let Analysis

BTL cannot be assessed because the asset is land with no accommodation or supported rental use. The £500 pcm advertised rent is for a three-bedroom property and cannot be applied to this plot.

Flip Analysis

A flip appraisal cannot be supported because no planning consent, development scheme, land-specific GDV, works cost or selling allowance is provided. The nearby house transactions are not suitable evidence for the plot's resale value.

Investor Risks & Due Diligence

• Required planning and other consents are not confirmed.

• The plot's size, boundaries, access and services are not provided.

• No land-specific valuation or development GDV is available.

• The minimum administration charge is £3,600 including VAT, exceeding 2.75% of the £2,000 guide price.

• Buyer premium, disbursements and other possible charges are unspecified.

• The supplied house sale comparables and three-bedroom rental listing may not represent the land's value or income potential.

Recommendation

Do not bid on investment assumptions alone. Proceed only after independent planning, legal, access, services and development-feasibility checks establish a specific permitted use and residual land value.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, location and auction cost provisions but lacks plot size, planning status, permitted use, services, development costs, land comparables and a supported end value.