Our Summary

• Guide Price: £190,000 For sale by unconditional online auction starting on 30th October at 10:00 and ending on 30th October at 10:30 For Sale by online Auction, bidding opens Thursday 30th October 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
• 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
• 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): £1,200,000 (independently verified) Current rental income: £800pcm from established storage tenant A demolition quote has been obtained for the existing building at £21,000 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
• 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
• 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
• These connections make Pontefract a highly attractive commuter base, enhancing both rental and resale potential for the apartments
• The Development Opportunity The outline planning permission (Ref: 23/01563/OUT) provides a solid platform for redevelopment
• Flexibility: Purchasers may opt to pursue the approved residential scheme or explore commercial redevelopment options subject to planning, offering additional exit strategies
• 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: £21,000, providing cost clarity at the outset GDV of £1,200,000 as confirmed by two local valuations Immediate income of £800pcm 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 £21,000 secured, holding income of £800pcm, and a proven GDV of £1
• 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
• This is a chance not to be missed for developers, investors, and builders seeking a ready-to-go project with multiple potential exit strategies
• 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,