Giles Wheeler-Bennett says ..

Property Oracle says ..

This property at Penzoy Nursey, Brownwich Lane, Fareham, presents a unique opportunity for a buyer looking for a substantial plot of land with potential for development. The 1.54-acre site features a series of greenhouses, but these are in a state of disrepair and require significant investment. The glasshouses themselves appear largely intact structurally, but require extensive refurbishment or demolition and replacement depending on the purchaser’s plans.

The location offers a balance of rural tranquility and accessibility. Titchfield is within a reasonable distance providing amenities and services. Several well-regarded primary schools are also conveniently located, a factor that can greatly enhance the value. However, buyers should be prepared for the location’s rural setting, meaning a car is necessary for much of the day to day travel.

The main selling point of the property is undoubtedly the land. Given its significant size, the potential uses are considerable, ranging from agricultural or horticultural purposes, to a possible residential conversion subject to relevant planning permissions. This potential needs to be weighed alongside the necessary cost to bring the greenhouses back to a useable condition.

Overall, this property is a high-risk, high-reward venture. The substantial land size provides significant future potential, but a considerable financial investment will be necessary to address the property’s current condition. Therefore, potential buyers should conduct thorough due diligence, including professional surveys and assessments, before committing to purchase. Those looking for a project or with the skills to renovate are the target audience. Those seeking a ready-made home would be disappointed.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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