Andrews Residential says ..

Property Oracle says ..

This property in Northwood, Hillingdon, presents a development opportunity comprising a site with existing workshops and garages. Planning permission has already been granted for the construction of four houses, with plans also available for an additional two dwellings. The location in Northwood is generally considered advantageous, with proximity to amenities and well-regarded schools. However, the immediate surroundings appear slightly less attractive based on the provided photos. The existing structures show signs of age and will require significant work; this fact is crucial for a potential buyer to understand and factor into their calculations. The land itself is a significant asset, offering considerable potential for development. The price of £1,100,000, while seemingly high for the existing structures, reflects the underlying value of the land and the development potential it holds. The lack of detailed information regarding existing square footage for the development plot complicates a precise price-per-square-foot valuation. Potential buyers should conduct thorough due diligence, including a comprehensive survey, to accurately assess the condition of the existing structures and determine the exact costs associated with the development project before making an offer. The property is being sold by auction which may lead to increased price competition. Given the details presented and the nature of this type of development, potential buyers should understand that the pricing may reflect a higher risk tolerance than is the case with traditional residential transactions. Given the approved plans, this property is suited to experienced developers.

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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