Holland Broadbridge says ..

Property Oracle says ..

This listing presents a unique opportunity to acquire a substantial building plot in Wem, Shropshire. Located on Aston Road, the property offers a sizeable area of land with full planning permission granted for the construction of two detached dwellings, each potentially comprising three or four bedrooms. The plot’s rural setting is a major selling point, offering tranquility yet maintaining close proximity to Wem’s amenities, including schools and a railway station.

The existing structures on the land appear to be in reasonable condition, but will likely require either renovation or demolition to make way for the development of the two detached properties. The site’s landscaping is minimal, but the size of the plot is a significant asset. The photographs show what appears to be a fairly level plot, ideal for constructing new buildings.

The list price of £300,000 needs to be considered in the context of building plot prices in the Wem area, and the inclusion of detailed planning permissions for the erection of two properties, which significantly impacts on value. Nearby property prices are slightly varied, with prices ranging from £149,000 to £350,000, but do not include planning permission for multiple dwellings. While some may find this price point attractive considering the potential return on investment once construction is complete, a detailed cost analysis and feasibility study should be conducted before committing to purchase. Buyers should be aware that additional costs associated with construction, land development and legal fees will apply. Overall, this is a substantial investment with significant potential, however, risk should be taken into consideration.

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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