Plots C and D, Risehow Industrial Estate, Flimby, Cumbria CA15 8PD

Description

Approximately 2.54 acres of industrial land previously used by a demolition company. The auctioneer flags deposited material, contaminated land and Japanese knotweed; Environmental Risk Assessment is in the legal pack.

Location

Plots C and D, Risehow Industrial Estate, Flimby, Cumbria CA15 8PD. The full postcode CA15 8PD is used for mapping. Local investment evidence is drawn from the Workington market rather than a generic Cumbria average.

Investment Analysis

Investment Snapshot

Works Required

• Professional surveys and design / planning work

• Site, structural or fit-out works specific to the intended use

• Services, compliance and access works

• Contingency for legal/planning/site-condition risks

HB working allowance: £50,000–£150,000. This is an appraisal allowance based on the auctioneer's condition description and property type, not a contractor quotation.

Rental & Market Context

A standard residential rental appraisal is not appropriate to the lot in its present form. The investment case depends primarily on industrial land remediation, planning/use, remediation and exit value rather than an assumed AST rent.

Sold within 5m radius

Standard residential sold comparables are not directly applicable to this land/commercial opportunity. A specialist land/commercial appraisal should be obtained once the intended use and planning constraints are fixed.

GDV Assessment

No defensible GDV is stated until the planning/use/remediation scheme is established. Assigning a residential GDV at this stage would be misleading.

Strategy Recommendation

Preferred strategy: Industrial Land Remediation. The working acquisition range is £5,000–£10,000. The main reason is the relationship between the guide, required works and the achievable exit/income evidence. Risk is rated high because of the property-specific condition, tenure, planning or market factors noted above.

Potential BRRR Position

Standard residential BRRR is not the primary strategy. Commercial refinance should be based on sustainable ERV/passing rent, tenant covenant, use class and lender valuation.

Flip Analysis

A flip profit cannot be responsibly calculated until the intended scheme, remediation/site costs and exit value are fixed.

Investor Risks & Due Diligence

• Read the full legal pack, title and special conditions before bidding

• Confirm auction administration/buyer's fees and completion period

• Verify the scope and cost of works with a survey and contractor pricing

• Check planning/building-regulation status, access and services where relevant

• Confirm finance and insurance acceptability for the specific property type

• Re-check current rental and sold evidence immediately before setting a maximum bid

Maximum Bid Analysis

Guide £5,000+. A defensible maximum bid cannot be derived without a costed scheme and specialist valuation. Treat the guide as the starting point only and avoid bidding from an assumed residential GDV.

Recommendation

Overall HB view: Industrial Land Remediation. At the working purchase range of £5,000–£10,000, the opportunity can be attractive if the property-specific risks are resolved and the works remain within £50,000–£150,000. Confidence is high; the principal sensitivity is planning/site cost.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★★☆ | Flip: ★★★☆☆

Research Sources

https://www.auctionhouse.co.uk/cumbria/auction/lot/151871 | https://www.rightmove.co.uk/house-prices/workington.html