Savills says ..

Property Oracle says ..

This property listing presents a unique opportunity: a large 5.903-acre plot of land in Welwyn, Hertfordshire, with approved planning permission for two new residential dwellings. The current structures on the land, visible in photographs, appear to be aged outbuildings needing significant renovation or demolition. While the location in Welwyn offers potential advantages with proximity to schools and transport, the true value of the property hinges on the cost of building the new homes. The current list price of £650,000 is a starting point for negotiations, but significant expenses should be factored in for construction. The large land area, along with planning permission, adds considerable value. Nearby property sales provide a general sense of prices in the area; however, the absence of comparable land sales makes precise valuation challenging. Potential buyers should conduct thorough due diligence, including obtaining detailed cost estimates for construction, before making an offer. The absence of key details like existing building square footage and specifics on the approved plans for the new dwellings makes a full valuation impossible. Investors or developers seeking a significant project with potential for substantial return might find this appealing. However, those seeking a move-in ready property should look elsewhere.

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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