Andrew Craig Land & New Homes says ..

Property Oracle says ..

This property is a 0.46-acre plot of land located in Low Fell, Gateshead, listed for £300,000. The land is currently overgrown and includes dilapidated structures, requiring significant work before development is possible. The absence of existing planning permission presents additional challenges and costs.

The location is positive; Low Fell is a desirable area with excellent schools such as Oakfield Junior and Infant Schools, and Kells Lane Primary School which are all rated as ‘Good’ or ‘Outstanding’ by Ofsted. The proximity to train stations, including Newcastle, provides good transport links. However, the site’s proximity to a railway line and the apparent state of disrepair of the existing structures may pose additional challenges for developers. The lack of specific details on potential planning permissions or development plans makes a definitive evaluation of its ultimate value difficult. Potential buyers should factor in substantial costs for site preparation, demolition, planning applications, and construction if planning permission is indeed granted. The current price should be evaluated in context with the risk and investment needed to transform the land into a usable property.

While the area shows a generally strong housing market, with properties on nearby Saltwell Road South selling in the range of £165,000 to £289,950, this undeveloped land presents a very different investment proposition. Further due diligence on potential development options and related costs is crucial before making any purchasing decisions. The absence of data regarding square footage and plot size for surrounding properties makes a precise price comparison more challenging. It’s recommended to conduct thorough research and consult with professionals before making a purchase decision.

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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