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Residential Development Site, Tanhouse Lane, Cradley, Malvern - Image 1
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Residential Development Site, Tanhouse Lane, Cradley, Malvern - Image 4

Residential Development Site, Tanhouse Lane, Cradley, Malvern

West Midlands

£800,000
Listed on 03/10/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

Nestled along the Herefordshire and Worcestershire border, this property presents a unique opportunity for renovation and investment. Situated just a few miles west of Great Malvern, it benefits from proximity to local village amenities in Cradley, including a shop, doctors' surgery, and community social club. Larger towns such as Malvern and Ledbury are easily accessible, offering extensive shopping options, dining establishments, and cultural attractions like the esteemed Malvern Theatre. Education is also well catered for with nearby private schooling in Malvern and Colwall. The site encompasses approximately 2.95 acres (11,950 m²) and features two principal structures that offer substantial potential for transformative development. The first building spans around 14,200 ft² (approximately 1,320 m²) and was formerly used as a chicken shed. It has received planning consent for multiple uses: conversion into office space, a motel, and most recently approval to transform it into seven residential units. This presents an advantageous starting point for any investor or developer looking to capitalize on the increasing demand for housing in the area. The second building has an area of approximately 5,830 ft² (542 m²) and has served various functions over the years including storage for car parts and cider production. While it is not included in the current residential consent, its presence adds further value to the site by offering potential for alternative uses. Utilities such as mains water, three-phase electricity, and telecommunications are already available at the property, streamlining any future developments. Planning permissions are notably favorable; prior approval has been granted for converting one commercial building into seven residential dwellings (planning reference: 231899), along with positive engagement from Herefordshire Council regarding proposals to replace existing structures with purpose-built homes. Ongoing discussions are assessing the viability of expanding this project to include up to nine plots total. This property offers a conditional purchase opportunity subject to planning outcomes—an ideal proposition for those looking to undertake a renovation project or invest in residential developments within this growing region.

Investment Analysis

(WR13 area)
Area Average
£341/sq ft

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£600,000 - £900,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
7
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (WR13)

Area prices are falling by +12.5% over the last 12 months
3 year growth: -11.2%
5 year growth: 5.9%
Investment Disclaimer: Analysis based on WR13 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Residential Development Site, Tanhouse Lane, Cradley, Malvern
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£2,931
Based on a loan of £600,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE