{"primary_description": "Guide Price: \u00a3180,000

For sale by unconditional online auction starting on 31st March at 20:01 and ending on 30th June at 12:00

***UNEXPECTEDLY OFFERED FOR AUCTION AGAIN***
For Sale by online Auction, bidding opens Wednesday 20th May at 10:00am. An exceptional residential development opportunity in the heart of Pontefract. The Old Malting comes with outline planning permission (Ref: 23/01563/OUT) to demolish the existing building and erect eight brand new two-bedroom apartments.

***CALL OUR OFFICE FOR THE BUY IT NOW PRICE***
An exceptional residential development opportunity in the heart of Pontefract. The Old Malting comes with outline planning permission (Ref: 23/01563/OUT) to demolish the existing building and erect eight brand new two-bedroom apartments, each with the added benefit of its own private garage a feature that is increasingly rare and highly desirable in modern apartment living.

Currently, the property is let to a tenant who occupies the building for storage, generating a secure holding income of \u00a3800 per calendar month on a rolling tenancy. This provides investors with immediate cash flow while progressing development plans.

With valuations from two independent local estate agents, the completed scheme has been assessed at a Gross Development Value (GDV) of approximately \u00a31,200,000, confirming the strength of the opportunity.

Key Highlights

Outline planning permission (Ref: 23/01563/OUT) for 8 x brand new two-bedroom apartments

Each apartment includes its own garage a significant selling point in today's market

Gross Development Value (GDV): \u00a31,200,000 (independently verified)

Current rental income: \u00a3800pcm from established storage tenant

A demolition quote has been obtained for the existing building at \u00a321,000

Purchasers may also consider retaining the existing building for commercial use or applying for alternative commercial planning consents

Desirable commuter location with superb transport links to Leeds, Wakefield, Doncaster, and York

Within 5 minutes' walk of Pontefract Hospital a major local employer and strong rental driver

Town centre shops, restaurants, schools, and leisure facilities all nearby

The Property & Current Income

The Old Malting is a substantial building with strong local presence, currently in use as storage premises. A tenant is in occupation on a month-by-month basis, paying \u00a3800pcm, which provides the purchaser with a reliable interim income stream until redevelopment commences.

The granted outline planning permission (Ref: 23/01563/OUT) creates a clear pathway to a modern residential scheme that would replace the existing structure with eight purpose-built apartments. Crucially, each apartment has been designed with its own garage, an extremely attractive feature for buyers and renters alike who value secure parking and additional storage space.

Alternative Use Potential: While the planning approval paves the way for residential redevelopment, purchasers may also consider retaining the existing building for commercial purposes. The current structure already functions successfully as a storage facility, but with the appropriate planning permissions, it could lend itself to a range of alternative commercial uses such as offices, workshops, or other employment-generating premises. This flexibility offers buyers additional options to tailor the site to their own investment strategy.

The Location Pontefract, WF8

Pontefract is a historic market town in West Yorkshire with a population of around 30,000. It combines heritage and community with modern infrastructure, making it an increasingly popular choice for both families and professionals.

Healthcare

Pontefract Hospital is just a 5-minute walk from the site.

As a key local employer and healthcare hub, the hospital ensures consistent rental demand from healthcare staff, locums, and professionals seeking accommodation within walking distance.

Transport Links

The property benefits from excellent road connectivity via the A1(M) and M62 motorways, placing Leeds, Wakefield, Doncaster, and York all within 30 minutes' drive.

Three railway stations (Pontefract Monkhill, Baghill, and Tanshelf) provide direct links to Leeds, Sheffield, Knottingley, and beyond.

These connections make Pontefract a highly attractive commuter base, enhancing both rental and resale potential for the apartments.

Education & Family Amenities

A strong selection of primary and secondary schools within easy reach.

Colleges and sixth forms provide further educational opportunities, supporting demand from families as well as young professionals.

Leisure & Lifestyle

Pontefract town centre offers supermarkets, independent shops, pubs, restaurants, and cafs.

Major nearby destinations include Junction 32 Outlet Village and Xscape Leisure Complex, offering retail, dining, cinema, skiing, climbing, and other leisure activities.

Historic attractions such as Pontefract Castle and the famous Pontefract Racecourse add further appeal, while nearby countryside provides walking and cycling opportunities.

This unique combination of employment, education, leisure, and transport infrastructure ensures that the apartments, once built, will have broad market appeal across multiple buyer and tenant demographics.

The Development Opportunity

The outline planning permission (Ref: 23/01563/OUT) provides a solid platform for redevelopment. The proposed scheme comprises eight new-build two-bedroom apartments, designed with garages for each unit.

To assist potential developers, the current owners have already obtained a demolition quote of \u00a321,000 for the clearance of the existing building, giving clarity on one of the key upfront costs.

Key market advantages of this scheme include:

Modern living standards: Energy-efficient new-build apartments appeal to both buyers and tenants due to lower running costs and modern design.

Garages: Rarely offered in apartment schemes, garages will command a rental and resale premium.

Flexibility: Purchasers may opt to pursue the approved residential scheme or explore commercial redevelopment options subject to planning, offering additional exit strategies.

Two reputable local estate agents have confirmed that the finished residential development would achieve a Gross Development Value of approximately \u00a31,200,000, providing a clear exit strategy for resale or the option to retain as a profitable buy-to-let portfolio.

Investment Summary

Outline planning permission (Ref: 23/01563/OUT) to demolish and redevelop into 8 brand new two-bedroom apartments with garages

Demolition quote obtained: \u00a321,000, providing cost clarity at the outset

GDV of \u00a31,200,000 as confirmed by two local valuations

Immediate income of \u00a3800pcm from current tenant, reducing holding costs and providing cash flow during the planning and build phase

Option to retain and operate the existing building commercially, or seek planning approval for alternative commercial uses

Prime location with walking access to Pontefract Hospital, town centre, and transport links

High rental demand from commuters, healthcare workers, and families ensures strong occupancy levels once completed

Conclusion

The Old Malting represents an outstanding investment and development opportunity in a thriving and accessible West Yorkshire town. With outline planning permission (Ref: 23/01563/OUT) already in place, a demolition quote of \u00a321,000 secured, holding income of \u00a3800pcm, and a proven GDV of \u00a31.2m, this property provides an ideal blend of security, cost certainty, and long-term value.

Importantly, the site also offers flexibility of use with the option to pursue the approved residential scheme, retain the existing structure for commercial operation, or explore alternative commercial redevelopment subject to planning.

Opportunities of this quality combining planning, income, location, flexibility, and transparent costings are increasingly rare. This is a chance not to be missed for developers, investors, and builders seeking a ready-to-go project with multiple potential exit strategies.

Plans/Areas & Boundaries The areas and plans attached to these particulars have been produced in good faith. They are for illustrative purposes only and their accuracy is not guaranteed. The successful purchaser will be deemed to have full knowledge of all boundaries and neither the Vendor nor the auctioneer will be responsible for defining the boundaries for the ownership thereof.

UNCONDITIONAL LOT
Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 10% deposit and a 5%+VAT (subject to a minimum of \u00a35,500+VAT) buyer's premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).

PRE AUCTION OFFERS ARE CONSIDERED
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.

SPECIAL CONDITIONS
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.", "key_features": [], "rooms": [], "legal_description": null}

1 properties for sale