Innes England Ltd says ..

Property Oracle says ..

This property is a large plot of land (approximately 1.87 acres) in Blyth, Nottinghamshire, currently under development. Aerial photographs reveal groundwork and the early stages of construction of what appears to be a substantial property, or possibly multiple properties. The listing mentions implemented residential planning consent. The location is reasonable, given that schools are nearby, although the quality and proximity of those schools will dictate quality of life of future residents. The proximity of other more developed properties shows potential for the plot of land to eventually become quite valuable. However, the extremely low list price of £1 raises considerable questions about the nature of the sale, and it is far below what’s expected. This might be due to the property being sold via an auction or a special sale of some kind, perhaps distressed sale. The undeveloped nature of the property and potential development risk should be considered by potential buyers. The scale of the project and its present phase also make a final assessment of its true market value at this stage difficult. Further investigation into the auction details or planning documents would be needed to form a concrete opinion on the value of this property.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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