Land off Raceys Close, Emneth, Wisbech, Cambridgeshire, PE14 8BT

Description

Two parcels of land and roadways off Racey’s Close in Emneth, a village on the outskirts of Wisbech. The land has some potential but is situated within a residential area and interested parties should make their own enquires as to potential uses. The larger parcel of land is circa 0.29 acres and the smaller parcel is circa 0.07 acres.

Location

Village location; situated in a residential area in Emneth, a village on the outskirts of Wisbech.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are detached houses on Raceys Close, not land, so they do not support a GDV or market value for these two parcels. The description states that the land may have potential but that interested parties must make their own enquiries regarding potential uses. Planning status, permitted use, access, services, title matters and development feasibility are not supplied. The £5,000 guide is therefore not independently supported by the evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on investment assumptions alone. Proceed only after satisfactory planning, title, access, services and permitted-use due diligence confirms a viable use and an independently supported residual value.

Works Required

No physical refurbishment works are evidenced. The immediate requirement is due diligence on planning potential, permitted use, title, access, services and the status of the roadways before considering any development works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten. There is no supported residential GDV, rent, refurbishment budget or refinance value. The known acquisition cost would include the £5,000 guide plus the £1,800 inclusive-of-VAT contract documentation fee, before any applicable seller fees and other costs, but development feasibility remains unconfirmed.

Buy-to-Let Analysis

BTL is not supported by the evidence because the asset comprises land parcels with no accommodation or passing rent. The £600 pcm listing is for flats near Raceys Close and cannot be applied to this land.

Flip Analysis

A flip appraisal cannot be calculated because the detached-house comparables do not establish a land or development GDV, and no planning permission, scheme, build cost or selling allowance is supplied.

Investor Risks & Due Diligence

• Potential uses are unconfirmed and require independent enquiries.

• The supplied comparable sales are detached houses and are not directly comparable to the land parcels.

• No planning permission, development scheme, build cost or residual valuation is supplied.

• Access, services, title matters and the status of the roadways are not evidenced.

• A £1,800 inclusive-of-VAT contract documentation fee is payable, and additional seller fees may apply under the Special Conditions of Sale.

Recommendation

Do not bid on investment assumptions alone. Proceed only after satisfactory planning, title, access, services and permitted-use due diligence confirms a viable use and an independently supported residual value.

Strategy Rating

Analysis Confidence

The evidence confirms location, freehold tenure, approximate parcel sizes, guide price and a buyer documentation fee, but provides no planning position, use, services, title detail, development scheme, land comparables, GDV, works budget or applicable rent.