Poolside Boat Yard, Naze Lane, Freckleton, Lancashire PR4 1UN

Description

A substantial residential and commercial property set on a large riverside plot with views over the River Ribble, extending to approximately 2 Hectares (4.94 Acres). The site is considered suitable for development subject to the required consents being obtained. The residential element extends to approximately 563 Sq M (6,063 Sq Ft), is arranged over four floors and requires a scheme of refurbishment/redevelopment. The workshop buildings extend to approximately 790 Sq M (8,504 Sq Ft) and are in a largely dilapidated state. The property presents an opportunity to create a unique residence or redevelop the site for alternative use, subject to obtaining the necessary consents.

Accommodation

Residential element of approximately 563 Sq M (6,063 Sq Ft), arranged over four floors. Workshop buildings extending to approximately 790 Sq M (8,504 Sq Ft). Outside: terrace and patio areas, extensive concrete hard-standing areas, numerous workshop buildings, river frontage and slipway access. Approximate site area: 2 Hectares (4.94 Acres).

Location

Located off Naze Lane East, adjacent to the entrance to Donkey Creek Farm Caravan Park and approximately 1 mile from the village of Freckleton. BAE Systems Warton is within 3 miles and Preston is approximately 8 miles to the east. The property has views over the River Ribble.

Tenure / Property Information

Investment Analysis

The £495,000 guide is not independently supported as a market value for the whole site. Evidence includes nearby Naze Cottage sales from £551,000 to £660,000 and Poolside Lodge at £470,000, but these are detached residential comparables and are not directly comparable with this approximately 4.94-acre mixed residential/commercial site. The £15,000 Poolside Boat Centre sale is also not a reliable basis for valuing the subject property. The residential element requires refurbishment/redevelopment, the workshops are largely dilapidated, and development is subject to obtaining the required consents. A credible GDV, works budget and maximum bid cannot therefore be established from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Treat as a consent-led development opportunity only. Obtain planning, legal, condition, environmental and cost advice before bidding; do not rely on the current evidence for a refurbishment, rental or flip purchase decision.

Works Required

Prepare a scheme for the approximately 6,063 sq ft residential element and approximately 8,504 sq ft of workshop buildings; undertake the required refurbishment or redevelopment works, subject to planning and other necessary consents. No detailed schedule of works or specification is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported because there is no evidence-based GDV, refurbishment budget, rental income or refinance valuation. The project is dependent on obtaining the required consents and resolving the condition of the residential and workshop elements.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent and yield cannot be established. The property is also described as requiring refurbishment/redevelopment, which makes a conventional BTL assessment premature.

Flip Analysis

A flip appraisal cannot be completed reliably. The guide is £495,000 plus fees, including a known 2.75% administration charge at the guide price of £13,612.50, but works, resale GDV and selling costs are not supplied. The nearby detached-house sales are not sufficient evidence for the completed value of this entire site.

Investor Risks & Due Diligence

• Development is subject to obtaining the necessary consents.

• The residential element requires refurbishment/redevelopment.

• The workshop buildings are described as largely dilapidated.

• No detailed refurbishment or redevelopment cost evidence is supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Buyer premium and other possible legal, search, seller-cost reimbursement, transfer and disbursement charges are not quantified.

• The site comprises three title numbers, requiring review of the legal pack and title arrangements.

Recommendation

Treat as a consent-led development opportunity only. Obtain planning, legal, condition, environmental and cost advice before bidding; do not rely on the current evidence for a refurbishment, rental or flip purchase decision.

Strategy Rating

Analysis Confidence

The description provides site areas, accommodation, tenure, condition indicators and some nearby sales, but there is no planning position, detailed condition survey, development scheme, cost plan, rental evidence or supported GDV.