Dedman Gray Auction says ..

Property Oracle says ..

This property is a development opportunity comprising a freehold parcel of land located at 843 London Road, Westcliff-on-Sea, Essex, with full planning permission. The site, approximately 1,742 sq ft, currently presents as vacant land, requiring complete construction of a new building. The approved plans illustrate a multi-unit residential development including commercial space on the ground floor. The design includes several apartments, potentially attracting buyers and renters in this coastal region.

The location is advantageous, offering proximity to Chalkwell train station and several schools rated ‘Good’ by Ofsted. While proximity to amenities isn’t explicitly detailed, Westcliff-on-Sea generally offers a desirable lifestyle with local shops, places of significance, and a vibrant community. However, the absence of detail regarding the surrounding infrastructure may lead to uncertainty about the actual appeal for potential occupants.

The list price of £950,000 is presented against the background of a previous sale at £1,060,000, suggesting a slightly reduced asking price. The final sale price will depend on the developer’s profit margin, construction costs, and overall market fluctuations. The successful development and sale of the completed units will determine the ultimate value and return on investment. The lack of current condition rating is unavoidable given the land’s nature as a redevelopment project.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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