Land Bevois Mansions, Bevois Hill, Southampton, Hampshire, SO14 0SL

Description

Situated in the triangle between Thomas Lewis Way and Bevois Hill, this unusual parcel of land totals 0.11 hectares (0.27 acres). The site has consent for a pair of flats which once built are considered ideal for resale into the local marketplace or for retention for their income producing potential.

Accommodation

Planning consent for a 3-storey building to create 2 x 1 bedroom flats with associated works including parking, amenity and stores.

Location

Situated in the triangle between Thomas Lewis Way and Bevois Hill, Southampton. Interested applicants may view directly on site at any reasonable time or during daylight hours.

Tenure / Property Information

Investment Analysis

The site has stated consent for a three-storey building comprising two one-bedroom flats, with parking, amenity space and stores. The supplied sold comparables are historic transactions for ‘Other’ and terraced properties at the same address, but do not provide sufficiently comparable evidence for the completed flats or development land. No supported GDV, build-cost, professional-fee, finance-cost or disposal-cost evidence is supplied. The £2,250 pcm rental listing is for a two-bedroom property and cannot reliably establish rent for two one-bedroom flats.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity only, subject to independent valuation, full build-cost appraisal, planning-document review and confirmation of all auction and project costs before bidding.

Works Required

Obtain and review the planning consent and deliver the permitted three-storey building containing two one-bedroom flats, together with the consented parking, amenity space and stores. Construction, site preparation, utility, professional and compliance requirements cannot be quantified from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be quantified. The consented two-flat scheme may provide a development and refinance opportunity, but no supported completed value, construction budget, finance cost, rent or lender valuation evidence is available. The administration fee and other possible buyer costs are also unspecified.

Buy-to-Let Analysis

BTL cannot be reliably assessed. The subject would comprise two one-bedroom flats, whereas the only rental evidence is an advertised asking rent for one two-bedroom property. No achievable rent, construction cost, total project cost or operating-cost evidence is supplied, so yield and cash flow cannot be established.

Flip Analysis

A flip appraisal cannot be completed. The historic same-address sales are for different property types and dates, and no supported GDV or construction budget is provided. Any resale surplus would therefore be speculative.

Investor Risks & Due Diligence

• No supported GDV for the two consented one-bedroom flats.

• No construction, site preparation, professional, utility or compliance cost estimates.

• The rental evidence relates to a two-bedroom property and is only an advertised asking rent.

• Administration and other non-optional buyer fees are unspecified.

• The supplied sold comparables are historic and relate to different property types.

• Planning consent is described but the detailed consent documents and conditions are not supplied.

Recommendation

Treat as a planning-led development opportunity only, subject to independent valuation, full build-cost appraisal, planning-document review and confirmation of all auction and project costs before bidding.

Strategy Rating

Analysis Confidence

Planning description, tenure, guide range and historic same-address transactions are supplied, but there is no comparable completed-flat valuation, build-cost evidence, reliable subject rent, or quantified fees and project costs.