Land on the North-West side of Quarryhills Lane &, North side of Borrowcop Lane, LICHFIELD, Staffordshire, WS14 9DH

Description

Freehold title comprising roadways and verges. It is important prospective purchasers ensure they have inspected the area and rely upon their own enquiries, assessments and due diligence with regards to its current and potential uses. All or part of this may comprise adopted highway. All interested buyers should rely upon their own enquiries with the local authority.

Location

Freehold comprising roadways and verges surrounded by residential properties.

Tenure / Property Information

Investment Analysis

This is a freehold title comprising roadways and verges, potentially including adopted highway. The supplied detached-house comparables on Hillside are not relevant evidence of land value or development value. No site area, planning consent, access rights, services, adoption status, development potential or independent land valuation is supplied, so GDV and maximum bid cannot be supported.

Investment Snapshot

Strategy Recommendation

Do not bid on investment assumptions. Only consider a highly conditional purchase after satisfactory legal, local-authority, highway, planning and title due diligence establishes a specific beneficial use or resale market.

Works Required

No refurbishment works are evidenced. The essential work is legal, highway and planning due diligence, including confirming the title extent, whether any part is adopted highway, ownership obligations, access rights and potential lawful uses.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supported because there is no evidenced residential or lettable accommodation, refurbishment plan, GDV, rent or refinance valuation. The £1 guide is not sufficient evidence of an investable acquisition price, particularly with the known £1,800 inclusive-of-VAT contract documentation fee and possible additional seller fees.

Buy-to-Let Analysis

BTL is not supported. The property is land comprising roadways and verges with no residential accommodation or supported passing/asking rent attributable to it. The supplied £1,900 pcm five-bedroom listing is not evidence of rent for this title.

Flip Analysis

A flip appraisal cannot be established. The detached-house sales are not comparable to roadway and verge land, and no planning or development value is evidenced. At the £1 guide plus the known £1,800 documentation fee, the indicative known acquisition cost would be £1,801 before any additional seller fees, but resale surplus cannot be calculated.

Investor Risks & Due Diligence

• All or part of the land may comprise adopted highway.

• No current or potential use is established.

• No site area, planning consent, access, services or development evidence is supplied.

• The supplied house-sale comparables are not relevant land comparables.

• Additional seller fees may be payable under the Special Conditions of Sale.

• The known £1,800 documentation fee materially exceeds the £1 guide and is payable by the buyer.

Recommendation

Do not bid on investment assumptions. Only consider a highly conditional purchase after satisfactory legal, local-authority, highway, planning and title due diligence establishes a specific beneficial use or resale market.

Strategy Rating

Analysis Confidence

The title description, tenure, guide and documentation fee are supplied, but there is no site area, planning information, adoption confirmation, use evidence, valuation, accommodation or relevant land comparable evidence.