Motis Estates says ..

Property Oracle says ..

This listing presents an opportunity to purchase a 2.25-acre plot of land in East Folkestone with planning permission granted for the construction of 30 affordable dwellings. The potential exists to revise the planning permission to decrease the proportion of affordable housing. The development location offers several benefits, including proximity to well-regarded schools like The Beacon (Outstanding Ofsted rating), and relatively easy access to Folkestone Central train station, approximately 1.06km away. The artist’s impressions depict a modern and well-designed housing scheme, incorporating sustainable features such as solar panels. However, an assessment of the actual condition is impossible as the construction has not begun. The £1,500,000 asking price represents a significant investment. A detailed financial analysis factoring in building costs, potential sale prices of the individual properties, and the percentage of affordable housing will be critical in evaluating the overall profitability of the development. The absence of information on existing properties of comparable size and the lack of specific details of the land’s immediate surroundings do affect the overall evaluation. A full market appraisal and cost breakdown will be necessary to determine its true value. The size of the land and the planning permissions are strong positives for this project. Further due diligence is necessary before making any purchase decision. Detailed financial analysis will be crucial in order to determine the final profitability of the development.

Therefore, we give this property 7 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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