Land to the East of Arthur Street, Crook, County Durham, DL15 9DU

Description

A substantial plot of land measuring approximately 0.95 acres / 3,845 sq m (41,387 sq ft), offered with planning permission for the erection of thirteen residential dwellings. Works have commenced. The seller has advised all 13 houses are private, with no social housing and no outstanding CIL or S.106 payments.

Location

The land is situated on a residential road close to local shops and amenities. The open spaces of Foundry Park are within easy reach. Transport links are provided by Bishop Auckland rail station and Crook bus station.

Tenure / Property Information

Investment Analysis

Freehold development land of approximately 0.95 acres with permission for 13 private dwellings and works reportedly commenced. Nearby completed terraced sales range from £42,500 to £164,000, but these are individual existing homes and do not establish GDV for the proposed scheme. Development costs, specifications, programme, sales values and legal obligations are insufficiently evidenced.

Investment Snapshot

Strategy Recommendation

Proceed only as a development appraisal subject to full planning, legal, technical and cost due diligence; do not bid from the guide alone.

Works Required

Complete the 13 permitted private dwellings and associated development works, subject to verification of the planning permission, commencement status, technical requirements and legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not quantifiable. The scheme may create refinanceable completed units, but GDV, build costs, finance costs, timing and exit values are unsupported.

Buy-to-Let Analysis

BTL analysis cannot be established because the property is development land, no completed accommodation or rental evidence is supplied, and development costs are unknown.

Flip Analysis

A development resale strategy may be possible, but no reliable GDV, construction budget, professional costs, finance costs or selling allowance is provided. No surplus can therefore be calculated.

Investor Risks & Due Diligence

• Development costs and specifications are not supplied.

• Completed dwelling values and overall GDV cannot be established from the available comparables.

• Works are reportedly commenced, but their extent and compliance are not evidenced.

• Special conditions may impose additional search, legal, seller-cost, transfer or disbursement charges.

• The 12-week completion requirement may constrain funding and due diligence.

• Seller statements regarding no outstanding CIL or S.106 payments require legal and planning verification.

Recommendation

Proceed only as a development appraisal subject to full planning, legal, technical and cost due diligence; do not bid from the guide alone.

Strategy Rating

Analysis Confidence

Planning and site area are supplied, but dwelling specifications, GDV evidence, build costs, completed values, rents and several purchaser charges are unavailable.