Regan & Hallworth says ..

Property Oracle says ..

This property at 251 Wigan Lane, Wigan, represents a unique opportunity for developers or investors. It’s a derelict building, presently in significant need of repair, situated on a large, one-acre plot bordering Haigh Plantations. The area, while not bustling with high-street amenities, offers proximity to Wigan town center, train stations, and highly-rated primary schools. The significant selling point is undoubtedly the land itself – a rare 1-acre expanse in Wigan’s residential market. Given that full planning permission is in place, this property’s value is largely determined by the potential for development rather than its existing condition. The substantial investment required for renovation or demolition and reconstruction is a key consideration in assessing value. The asking price of £1,450,000 should be viewed in the context of this potential and the risk associated with undertaking a project of this scale. Potential buyers will need to carefully weigh the redevelopment costs, timeframe, and potential revenue against the current listing price. Those seeking a ready-to-move-in property will find this listing unsuitable, but experienced developers with a clear vision might see it as a lucrative venture.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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