Shonki Brothers says ..

Property Oracle says ..

This property is a freehold land plot located at 115 Uppingham Road, Leicester, currently listed for £295,000. The site’s current state is far from ideal, with aerial imagery revealing a collection of what appears to be dilapidated buildings and structures. The property is being sold at auction which suggests a level of risk and uncertainty in the transaction. The location offers some advantages, notably its closeness to local amenities, including a good-rated primary school (St Barnabas Cofe Primary School), and relatively easy access to Leicester city centre. This makes the area potentially attractive for redevelopment, once the considerable costs of site preparation and potential planning permissions are factored in. However, without specific details regarding the size of the plot and permissible development plans, determining whether the asking price is justified is challenging. While the land has redevelopment potential, the significant upfront investment required to bring it to a usable state significantly influences its current value. Investors should approach this opportunity cautiously, engaging in thorough due diligence before making any commitment. Potential buyers should factor in the cost of demolition, groundworks, planning permissions and construction of any future buildings. The absence of details on plot size and available comparable transactions makes accurate property valuation difficult.

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

Images