Matt Morrison Property Group says ..

Property Oracle says ..

This property at Island Street, Galashiels, presents a complex investment opportunity. The listing describes a rare development chance to create six residential units. The current structure is a four-bedroom house showing significant signs of disrepair and neglect, as seen in the exterior photographs. The property has an overgrown garden of unspecified size, requiring substantial landscaping. The lack of information on square footage limits a precise evaluation of price per square foot relative to nearby properties. Proximity to Galashiels train station is beneficial, but the absence of nearby schools and detailed local amenity information restricts a thorough assessment of location desirability. The current condition of the property would necessitate significant investment for either renovation or redevelopment, which should be factored into any investment decision. The asking price is reasonable given the development potential; however, buyers should conduct thorough due diligence including surveys and cost estimations for any work needed. While the potential exists, realizing this potential requires both considerable investment and detailed project planning. The existing structure is not immediately habitable and buyers should factor this heavily into their decision making. The land, while available and potentially substantial, currently offers limited usable space. Considering all factors, a potential buyer should carefully weigh the risks and rewards, including a detailed feasibility study on possible development, against the significant investment required.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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