Pearson Keehan says ..

Property Oracle says ..

This property in Montgomery Street, Hove, presents a unique opportunity for development. Located in the desirable Westbourne area of Hove, the property benefits from its proximity to various amenities, including schools and transport links like Aldrington train station. However, the current structure is in need of substantial renovation or complete redevelopment. Aerial photographs reveal a property showing its age and requiring significant work. Detailed architectural plans show a proposed development plan that will significantly transform the property, creating multiple residential units and a commercial space. The existing building’s condition is poor, requiring a considerable investment to bring it up to modern standards. While the location is favorable and the planned development ambitious, the list price of £850,000 should be viewed in the context of the extensive costs associated with its transformation. The current state, along with the lack of detailed information about the property’s size and specific features before renovations, makes it difficult to give a definitive assessment of the value. Therefore, potential buyers should carefully evaluate the costs involved and compare with similar development opportunities in the area before making a decision. Prospective buyers should conduct a thorough survey and obtain necessary planning permissions to have a full understanding of the potential return on investment.

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

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