The asking price of £400,000 for a redevelopment opportunity with planning permission for five apartments is competitive considering the potential rental income and property values in the area, as reflected in nearby listings. However, the absence of definitive sqft data and need for extensive work makes it challenging to precisely judge the value, influencing a score that reflects both potential and uncertainty. Comparative data on similar redevelopment projects would allow for a more accurate assessment.

Based on the provided photos, the property appears to be in fair condition, though it shows signs of needing some updating and refurbishment. While the structure seems sound, some cosmetic improvements and potential internal renovations would likely be necessary before it could be considered in excellent condition. The property has also been vacant for some time leading to some visible signs of deterioration.

Langham is a desirable village in Rutland, known for its peaceful atmosphere and proximity to Oakham, a historic market town with good transport links via East Midlands Railway. The presence of a highly-rated primary school (Langham Cofe Primary) and other good schools within a reasonable distance further enhances the location’s appeal. However, the village’s size might limit immediate amenities compared to larger towns.

The property includes a sizeable plot of land as evidenced by the photos and site plan. This offers development potential and is a significant advantage. While there isn’t a traditional garden, the substantial land area contributes to the overall score.