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Gorse Way, Formby

North West

£525,000

Listed on 10/09/2026

The listing

Property details

Bedrooms
4
Type
Detached

Description

This substantial four-bedroom detached property in the desirable Gores Way, Formby, presents a unique opportunity for investors or families seeking to create a bespoke home. With full planning permission already granted, the groundwork has been laid for a significant transformation into a modern family residence. The property has been stripped back in preparation for the proposed works, eliminating the uncertainty of obtaining planning permission. The approved plans include a thoughtfully designed layout featuring four spacious bedrooms, including a luxurious en-suite shower room for the principal bedroom, alongside a family bathroom. The ground floor is designed for contemporary living, incorporating an open-plan kitchen, dining, and family space, complemented by a separate sitting room, snug, utility room, and WC. Externally, the property boasts a generous rear garden and ample off-road parking to the front. A CGI image illustrating the proposed completed project offers a glimpse into the potential of this exciting development. With planning already in place and preparations underway, this property is an exceptional opportunity to create a modern family home in one of Formby's most prestigious locations. Cash buyers only are invited to arrange viewings to fully appreciate the potential this property offers.

WHOTS analysis

Our WHOTS verdict

An internal assessment of the opportunity to acquire, improve and create value.

46out of 100
Grade ELow opportunity

Confidence: LOW

This substantial four-bedroom detached property in Gores Way, Formby, presents a compelling renovation opportunity. With full planning permission already granted, the groundwork has been laid for a significant transformation into a beautifully appointed family home. The current condition, while stripped and showing signs of neglect, opens the door for a fresh start, allowing for a bespoke design tailored to modern living. The approved plans promise a spacious layout featuring an open-plan kitchen and family area, alongside separate living spaces, making this a project with genuine potential for value creation.

However, it’s important to note that the asking price of £525,000 feels dear when compared to the local average. While the headline figure appears attractive, the lack of usable floor area means we cannot calculate the £/sqf accurately, and this weakens the overall value proposition. Given the extensive work required, including a gutted kitchen and damaged interiors, this is not a light refresh but a full-gut renovation. Buyers should be prepared for a substantial investment in both time and budget as they look to transform this property into their dream home.

Key opportunities

  • Full planning permission is already granted, allowing for a tailored renovation without the uncertainty of obtaining approvals.
  • The property can be turned into a modern, spacious family home with an open-plan living area and multiple bedrooms.
  • The stripped-back state means you can design the interiors from scratch, enabling a bespoke finish.

Key risks

  • Stripped interiors and a £100,000–£250,000 works budget make this a full-gut programme, not a refresh.

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Map

Location

Gorse Way, Formby
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Finance

Mortgage calculator

Illustrative repayments based on the asking price, not a mortgage offer.

£
£
£
%
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years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£1,983
Based on a loan of £393,750 over 30 years at 4.45% 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.

Tax

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Indicative tax based on the asking price and the options you select.

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