Land, South East Of Shann Lane, Keighley, Bradford, West Yorkshire BD20 6DY

Description

This rectangular plot of land measuring approximately 2.02 acres (0.82 hectares) is sure to be of interest to developers looking for a potential project. Although it has now lapsed, we understand the site has previously had planning permission for 30 two, three and four bedroom houses with associated garages and parking. Further information regarding this application can be found on the Bradford Planning Portal by searching application numbers 10/041887/FUL and 07/00841/FUL. The land is the former site of the Black Hill Reservoir which the existing owners filled in approximately 7 years ago and is surrounded by other residential developments to 3 sides. It benefits from some idyllic views with Keighley town centre 1.4 miles and Bradford city centre 11.6 miles to the South East.

Location

South East of Shann Lane, Keighley, Bradford, West Yorkshire. Surrounded by other residential developments to 3 sides. Keighley town centre is 1.4 miles away and Bradford city centre is 11.6 miles to the South East.

Tenure / Property Information

Investment Analysis

The £470,000 guide is not independently supportable from the supplied evidence. The five £195,500 comparables are completed sales of nearby semi-detached houses, not development land. The previous permission for 30 houses has lapsed, and no current planning, build-cost, sales-value or development appraisal evidence is supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Only reconsider after planning, ground, access, services, build-cost and resale-value due diligence supports the purchase price.

Works Required

Planning and technical due diligence would be required, including establishing the prospects of a new permission, site and ground-condition investigations due to the former reservoir use, and confirmation of access, services, drainage and any infrastructure requirements.

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 current planning consent, completed property, supported GDV, development budget or refinance valuation. The 1.5% buyer administration charge would be £7,050 at the £470,000 guide, before any additional disbursements.

Buy-to-Let Analysis

BTL is not assessable because this is development land with no existing accommodation and no supported rental evidence for the proposed houses. The supplied £560–£700 pcm figures relate to advertised one-bedroom rents and cannot establish project rents.

Flip Analysis

A flip appraisal cannot be calculated because current planning, build costs, unit sale values and selling costs are unavailable. The lapsed 30-house permission does not establish a current GDV.

Investor Risks & Due Diligence

• Previous planning permission has lapsed and a new permission is not assured.

• The site was formerly a reservoir and was filled approximately seven years ago; ground suitability and remediation requirements are not supplied.

• No development, infrastructure or professional-cost budget is provided.

• No current GDV or proposed-house sale evidence is provided.

• Additional purchaser disbursements are unconfirmed.

• The supplied rental evidence is for advertised one-bedroom rents and is not directly applicable to the proposed scheme.

Recommendation

Do not bid on the supplied evidence alone. Only reconsider after planning, ground, access, services, build-cost and resale-value due diligence supports the purchase price.

Strategy Rating

Analysis Confidence

The evidence confirms site size, former lapsed planning and guide price, but provides no current planning position, development costs, GDV, unit values, infrastructure costs or relevant land comparables.