Oliver Minton says ..

Property Oracle says ..

This property is a development opportunity with planning permission granted for three barn conversions. The existing structure is a large agricultural building, which will be converted into three residential units. The location is Latchford, Standon, Hertfordshire, which is a rural area. The average house price in the area is £830,938, and the average price per square foot is £513. The list price for this property is £750,000. Given that this is a development opportunity, the price seems relatively reasonable compared to other properties in the area, especially considering the potential for significant profit once the conversion is complete. However, the lack of information regarding the final value of the three units makes a full assessment of the price difficult. The property itself is currently an agricultural building and therefore does not have a garden in its current state. However, the planning permission includes the creation of external amenity space for each of the three units, which suggests the inclusion of private gardens. The planning documents show the proposed layout of the three units and their associated external areas. The location is rural, but the proximity to Ware and other towns, as well as several well-regarded schools, suggests a reasonable location score. The distance to transportation links is also a factor to consider. The condition of the existing building appears to be fair. While the exterior shows some signs of age, the planning permission suggests that a substantial amount of work will be undertaken to convert the building into residential units. Therefore, the condition score should reflect the potential for improvement rather than the current state of the structure.

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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