DDM Residential says ..

Property Oracle says ..

This property in Ulceby, Lincolnshire presents a unique opportunity for a buyer willing to undertake a substantial renovation project. The listing includes an existing three-bedroom cottage requiring complete refurbishment and planning permission for an additional three-bedroom detached house. The property benefits from being situated in a relatively quiet village setting in close proximity to Ulceby St Nicholas Church of England Primary School. However, access to amenities and transport is limited and requires the use of a car. The existing cottage is in a poor state of repair. Images reveal significant deterioration, necessitating a full renovation to bring it up to a modern standard of living. However, the considerable plot size significantly adds to the property’s value. The accompanying planning permission for an additional dwelling increases the potential return on investment, although the necessary investment should be considered carefully. Ultimately, the property is a risky, but potentially lucrative venture depending on the investor’s expertise, experience, financial capabilities and overall goals. The price seems reasonable considering the land value and potential for a new build, but is dependent on the cost of renovating the existing cottage to a habitable condition.

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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