Godfrey And Barr says ..

Property Oracle says ..

This property in Radlett, Hertfordshire, presents a unique investment opportunity. Currently, a house is on the site that, according to the images, appears to be in reasonable condition but could benefit from updates. However, the main selling point lies in the approved planning permission for a substantial new build: a seven-bedroom, five-reception room house with a leisure complex. The 7,000 sq ft planned house is designed for a comfortable and luxurious lifestyle.

The location on Newlands Avenue in Radlett is highly desirable. Radlett is known for its affluent community, excellent schools, and convenient access to transport links to London via Radlett train station. The proximity to several good schools and the overall atmosphere of the area are great selling points. While the existing property’s condition is fair and will require renovations, the new house to be built will likely greatly increase the property’s value. The land size, while not explicitly stated, is clearly substantial enough to accommodate the planned development.

Considering the location and planned new build, the asking price of £2,700,000 seems fair but not exceptionally low, especially when compared to other higher-value homes on the same street. The price is justifiable based on the potential return on investment following the completion of the new build.

Overall, this property offers a combination of immediate residential value and substantial future potential for growth. However, potential buyers should be aware of the cost of the demolition and construction, which needs to be factored into the investment equation. The property will appeal to developers and those interested in acquiring a large family home in a prime residential area.

Therefore, we give this property 7 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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