Land lying to the west of Arthur Moody Drive, Forest Hills, Newport, Isle Of Wight, PO30 5NG

Description

Site area approximately 6.4 hectares (15.82 acres); full planning consent for 36 dwellings; outline consent for 113 dwellings; currently comprising agricultural land; possible potential for alternative uses and schemes, subject to consents; subject to a Section 106 Agreement.

Accommodation

Development site comprising approximately 6.4 hectares (15.82 acres) of agricultural land. Full planning consent for 36 dwellings and outline consent for 113 dwellings.

Location

Current access to the land is via Forest Hills Road, which serves the residential estate to the east. Local amenities are available nearby, with further facilities in Newport. The A3054 and A3056 are easily accessible. The Isle of Wight National Landscape is nearby to the south. The mainland is accessible by ferry from Cowes to Southampton, Yarmouth to Lymington and Ryde to Portsmouth. St Mary's Hospital is to the north east. The site is bounded to the north by a modern housing estate, to the east and south by established residential uses and to the west by agricultural land.

Tenure / Property Information

Investment Analysis

The guide is £1.75m+, but the supplied evidence does not support a reliable GDV. The site has full consent for 36 dwellings and outline consent for 113 dwellings, subject to a Section 106 Agreement, but no unit mix, approved floor areas, build costs, infrastructure costs, sales values or development programme are provided. Nearby sold comparables range from £135,000 to £275,000 between 2017 and 2022, but they are individual houses and cannot establish the site's development value. The £1,625 pcm rental evidence is an advertised asking rent for an unspecified property and is not sufficient for site-level rental analysis.

Investment Snapshot

Strategy Recommendation

Undertake detailed planning, Section 106, access, infrastructure, build-cost and residual-land appraisal before bidding. Do not rely on the supplied evidence alone to justify a price above the £1.75m guide.

Works Required

Development would require implementing the approved scheme, including any required planning, Section 106, site preparation, access, infrastructure and construction works. The supplied evidence does not specify the detailed works, costs or phasing.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten. The planning consents indicate development potential, but GDV, construction costs, finance costs, completed unit values, rent and refinance assumptions are unavailable. The Section 106 Agreement and outline-consent requirements would also need review before committing.

Buy-to-Let Analysis

BTL cannot be assessed from the supplied evidence. The only rental evidence is an advertised £1,625 pcm asking rent for an unspecified property, with no dwelling mix, completed unit count, operating costs or development costs. A site-level rental yield cannot therefore be established.

Flip Analysis

A development resale appraisal cannot be completed. The site may offer development potential through the consented schemes, but the evidence does not provide a supported GDV, total project cost, selling allowance or profit calculation. The nearby house sales are insufficient as a direct site valuation basis.

Investor Risks & Due Diligence

• The site is subject to a Section 106 Agreement, but its obligations and financial impact are not supplied.

• The 113-dwelling consent is outline consent and may require further approvals and conditions.

• No supported GDV, build cost, infrastructure cost, finance cost or development programme is available.

• Current access is stated to be via Forest Hills Road, but no access capacity, highways or infrastructure assessment is provided.

• Additional seller or third-party charges may apply, with no amounts supplied.

• Alternative uses and schemes are only potential and remain subject to consents.

Recommendation

Undertake detailed planning, Section 106, access, infrastructure, build-cost and residual-land appraisal before bidding. Do not rely on the supplied evidence alone to justify a price above the £1.75m guide.

Strategy Rating

Analysis Confidence

Planning information and limited nearby sales are available, but there is no supported unit mix, GDV, build cost, infrastructure allowance, Section 106 cost, finance cost, resale evidence or applicable rent evidence.