Plots 6-7, Tredrea Gardens, Perranarworthal, Truro, Cornwall

Description

A freehold parcel of amenity land measuring approximately 0.93 acre (0.378 hectare) with planning permission, in the popular and sought-after village of Perranarworthal, located just over five miles south of the cathedral city of Truro, Cornwall. Plot 6 is approximately 0.368 acre (0.149 ha) and Plot 7 is approximately 0.586 acre (0.229ha). The land is situated within the exclusive Tredrea Gardens, a private residential area in the former grounds of Tredrea Manor. The plots benefit from an extant Outline Planning Permission 8885/C dated 17 June 1957 and Detailed Approval 3/74/1167/36 relating to the development of two dwellings. The land is being sold as a whole as one lot and both permissions remain valid without time limit as confirmed by a Certificate of Lawfulness dated 4th April 2007. The plots offer an opportunity for prospective purchasers to acquire bare land for amenity purposes with future scope to develop subject to verification of the planning position and all necessary consents.

Accommodation

Plots 6 and 7, approximately 0.93 acre (0.378 hectare) in total. Plot 6 is approximately 0.368 acre (0.149 ha) and Plot 7 is approximately 0.586 acre (0.229 ha).

Location

Tredrea Gardens is a private residential area in the former grounds of Tredrea Manor, in Perranarworthal, located just over five miles south of Truro, Cornwall.

Tenure / Property Information

Investment Analysis

The £40,000–£50,000 guide relates to approximately 0.93 acre of freehold land. The supplied sold comparables are completed sales of detached houses in Tredrea Gardens (£192,500–£1,000,000), not land transactions, so they do not establish land value or GDV. The historical planning permissions and 2007 Certificate of Lawfulness require legal and planning verification, and no dwelling sizes, build costs or direct land comparables are supplied.

Investment Snapshot

Strategy Recommendation

Treat as conditional development-land speculation only. Obtain planning, legal, access, services and residual valuation advice before bidding; do not rely on the nearby house sales as GDV evidence.

Works Required

Verify the planning permissions, Certificate of Lawfulness, title, access, services, restrictions and any special conditions. No physical works can be specified from the evidence supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supportable without a verified development scheme, build-cost appraisal, completed values and refinance assumptions. The known buyer premium and admin charge total £1,800, with further possible disbursements and special-condition costs unknown.

Buy-to-Let Analysis

BTL analysis is not possible because this is bare land, no completed dwelling exists and no sufficiently specific rental evidence is supplied.

Flip Analysis

A flip appraisal cannot be established. The house sales provide only broad local context and cannot be used as a land GDV without dwelling design, size, specification and development-cost evidence.

Investor Risks & Due Diligence

• The continuing effect and scope of the historic planning permissions require verification.

• Future development remains subject to planning, legal, technical and other necessary consents.

• No direct land valuation or development residual appraisal is supplied.

• Potential disbursements, seller-cost reimbursement, legal fees, search fees or transfer fees are unknown.

• No access, service-connection, title-restriction or site-condition evidence is supplied.

Recommendation

Treat as conditional development-land speculation only. Obtain planning, legal, access, services and residual valuation advice before bidding; do not rely on the nearby house sales as GDV evidence.

Strategy Rating

Analysis Confidence

Planning documentation and local house sales are supplied, but there are no direct land comparables, dwelling specifications, construction costs, rental evidence or confirmed total acquisition costs.