The Pig Farm, Guildford Road, Bucks Green, West Sussex

Description

Situated on level ground just off the A281 on the outskirts of Horsham in this sought after village is a plot of land with planning for six dwellings. This rectangular shaped plot extends to just under three quarters of an acre and is situated in the heart of the village between Rudgwick and Lockswood close to local schools and amenities. Planning has been granted by Horsham District Council under reference DC/24/1181 for an outline application for the erection of six detached dwellings with associated garages, parking and landscaping with all matters reserved.

Location

The site is situated just off the A281 on the outskirts of Horsham, between Rudgwick and Lockswood, close to local schools and amenities. The nearby A24 provides access to Horsham, Gatwick and all surrounding areas.

Tenure / Property Information

Tenure	Freehold
Occupancy	Vacant possession
Parking	Associated garages and parking are included in the outline planning application.
Services	The seller informs the auctioneer that there is water and electricity on site.

Investment Analysis

The site is a freehold, vacant development plot of just under three quarters of an acre with outline planning permission under Horsham District Council reference DC/24/1181 for six detached dwellings with associated garages, parking and landscaping, with all matters reserved. The supplied sold comparables are nearby residential transactions ranging from £375,000 to £550,000, but they do not provide sufficiently specific evidence of completed dwelling sizes, values or a residual land value. No construction, infrastructure, professional, finance, tax, sales or other project costs are supplied. The £1,200,000–£1,300,000 guide is therefore not independently validated by the available evidence.

Investment Snapshot

Guide Price

£1,200,000 - £1,300,000 + fees

Strategy Recommendation

Treat as a development-underwriting opportunity only. Before bidding, obtain a detailed residual appraisal using verified values for the six proposed homes, a full build and infrastructure budget, professional and finance costs, planning obligations, taxes, selling costs and an appropriate contingency.

Works Required

Progress the outline planning permission through reserved matters and required technical approvals, then undertake the development of six detached dwellings with associated garages, parking and landscaping. The evidence does not specify detailed designs, infrastructure requirements or build condition.

Rental & Market Context

No sufficiently specific external rental comparable identified.

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Park View, Bucks Green, Rudgwick, Horsham, Horsham, Rh12 3jj 2024-05-08 · Semi-Detached · Freehold	£500,000
Rose Cottage, Bucks Green, Rudgwick, Horsham, Horsham, Rh12 3jj 2024-05-07 · Semi-Detached · Freehold	£375,000
The Find, Bucks Green, Rudgwick, Horsham, Horsham, Rh12 3jj 2022-08-03 · Terraced · Freehold	£500,000
Rascalls Cottages, Bucks Green, Rudgwick, Horsham, Horsham, Rh12 3jj 2021-06-29 · Semi-Detached · Freehold	£405,000
Little Rascals, Bucks Green, Rudgwick, Horsham, Horsham, Rh12 3jj 2021-06-15 · Semi-Detached · Freehold	£550,000

Potential BRRR Position

A BRRR assessment cannot be quantified. The site has outline planning for six dwellings, but no supported GDV, build-cost allowance, professional-cost allowance, programme, finance cost, or refinance valuation is available. A future refinance would depend on completed dwelling values and lender criteria.

Buy-to-Let Analysis

Not suitable for a conventional BTL assessment on the supplied evidence. The asset is development land rather than an income-producing dwelling, and no sufficiently specific rental evidence or completed-house specification is provided. Rental yield cannot be established.

Flip Analysis

A development resale analysis cannot be quantified reliably. The nearby sold comparables are individual residential sales and do not establish the GDV of six proposed detached dwellings. No supported development costs or selling allowance are supplied, so flip surplus and a maximum bid cannot be calculated.

Investor Risks & Due Diligence

• All matters are reserved under the outline planning permission, so the final design and deliverable scheme are not established by the supplied evidence.

• The supplied comparables are individual completed residential sales and are not sufficiently specific evidence for valuing six proposed detached dwellings.

• No build, infrastructure, professional, finance, tax, planning obligation or selling costs are provided.

• An administration fee and other non-optional buyer costs may be payable in addition to the bid price, with Stamp Duty, Land Registry fees and VAT potentially applicable.

• No rental evidence is available, preventing an income or rental-yield assessment.

• The guide price is not independently validated by a supported residual appraisal.

Recommendation

Treat as a development-underwriting opportunity only. Before bidding, obtain a detailed residual appraisal using verified values for the six proposed homes, a full build and infrastructure budget, professional and finance costs, planning obligations, taxes, selling costs and an appropriate contingency.

Strategy Rating

HB Rating

★★☆☆☆

Analysis Confidence

Confidence

Low

Planning description, tenure, location, guide range and several nearby completed sales are supplied, but there are no dwelling sizes, detailed design, GDV evidence, construction costs, project costs, rental evidence or supported development valuation.