Plot at Hillside Drive, Galashiels, Scottish Borders

Description

Enjoys prime location on the outskirts of the popular Borders town of Galashiels. Adjacent to existing residential development, and close to the A7 trunk road, the plot extends to approximately 1.15 acres and has lapsed planning permission Borders Ref. 13/01105/FUL for the construction of nine detached properties. The new buyer may wish to either revive the lapsed permission or consider a new application for an alternative development. An example of an alternative development is an architect outline plan showing 14 dwellings. Any revived or alternative development outcome would be subject to renewed planning approval.

Location

Galashiels is a town in the Scottish Borders, situated on the Gala Water River. It is a popular destination for visitors who want to explore the rich history and culture of the region, as well as enjoy the scenic landscapes and outdoor activities. Galashiels has excellent transport links, with regular bus and train services to Edinburgh, Glasgow, and other nearby towns. The town also has a modern transport interchange, which opened in 2015 and connects the bus and rail networks.

Tenure / Property Information

Investment Analysis

The £40,000 guide relates to a 1.15-acre freehold development plot. Value is highly dependent on securing renewed planning permission. The former permission for nine detached homes has lapsed, while the 14-dwelling concept is only an example outline and is not an approval. No land comparables, build costs or end values were supplied, so GDV and a supported maximum bid cannot be established.

Investment Snapshot

Strategy Recommendation

Proceed only as a planning-led land opportunity after reviewing the legal pack and obtaining planning, build-cost and end-value advice. Do not rely on the lapsed or illustrative permissions as approvals.

Works Required

Undertake legal and planning due diligence, assess whether the lapsed nine-home permission can be renewed, and consider a fresh application for an alternative scheme. No physical construction scope or cost evidence was supplied.

Rental & Market Context

Potential BRRR Position

BRRR is not supportable at this stage because there is no completed property, approved scheme, GDV, build-cost evidence or rental evidence. Refinance assumptions would require renewed planning and development evidence.

Buy-to-Let Analysis

Not applicable to the currently evidenced vacant development land. No rental evidence or completed dwellings are supplied, so rental yield cannot be established.

Flip Analysis

A development resale strategy may be possible if renewed planning permission is secured, but no approved scheme, GDV, construction costs, professional fees, finance costs or selling allowance were supplied. Flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• The stated planning permission for nine dwellings has lapsed.

• Any revived or alternative development is subject to renewed planning approval.

• The 14-dwelling architect outline is illustrative and not an approval.

• Development, professional, finance, legal, selling and infrastructure costs are not supplied.

• Additional auction disbursements and seller-cost reimbursements may apply under the special conditions.

• No sufficiently specific rental or land-sale comparables were supplied.

Recommendation

Proceed only as a planning-led land opportunity after reviewing the legal pack and obtaining planning, build-cost and end-value advice. Do not rely on the lapsed or illustrative permissions as approvals.

Strategy Rating

Analysis Confidence

The evidence confirms site size, tenure, guide price and historic/illustrative planning information, but provides no current permission, comparables, GDV, development costs, rental evidence or full fee schedule.