FRASER STRETTON LTD says ..

Property Oracle says ..

The property is a terraced house located on Welford Road in Leicester, with a list price of £350,000. It has one bedroom and one bathroom, and covers 674.26 square feet, with a plot size of 868.65 square feet. The average property price in the area is £302,231, with an average size of 1,047 square feet and an average price per square foot of £288. This property is smaller than average. Nearby properties range in price from £53,000 to £265,000, suggesting a wide variation in property values in the immediate vicinity. The provided images show the property is currently operating as a commercial business, which impacts the analysis. The property benefits from being near several schools, including Avenue Primary School (rated ‘Good’ by Ofsted) and Lancaster Academy (‘Requires Improvement’), and is within 2.28km of Leicester train station. This suggests a reasonably convenient location for families and commuters. However, the proximity of the property to commercial businesses may impact its desirability as a residential property. Based on the images provided, the property appears to be in reasonable condition for its commercial use. There is evidence of a small yard to the rear of the property. The property’s suitability as a residential property is questionable given its current commercial setup and the images provided. Given the property’s smaller size compared to the average in the area, its current commercial use, and the price variation in nearby properties, the list price of £350,000 may be considered high for a residential property. However, the commercial value of the property may justify this price.

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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