Churchfield Estate Agents says ..

Property Oracle says ..

This property on Northcote Road, Bournemouth is presented as an investment opportunity, specifically a lapsed planning permission for eight houses. The current state involves existing buildings that seem to be in need of substantial work, if not complete demolition and new construction, as indicated by the provided floor plans. The location is reasonably convenient, close to Bournemouth train station and relatively near to some schools, but the immediate surroundings may not be highly desirable. Given the planning permission and the lack of specific details about the existing buildings’ condition, the cost per square foot cannot be reliably calculated. The price seems reasonable from a redevelopment perspective, however, the project’s success would depend heavily on accurate budget management and the ability to secure funding. Significant risk is associated with completing this type of project due to the potential cost overruns, material price changes and labour market dynamics. The lack of bathroom and bedroom counts in the initial description is indicative of the property’s current uninhabitable state, awaiting complete reconstruction. In summary, this is a high-risk, high-reward investment opportunity and due diligence is paramount. Potential investors would need to consider additional costs beyond the initial purchase price, such as architectural fees, building permits, construction materials, labor, and potential delays. Thorough market research, construction cost estimates, and financial planning are crucial to evaluate the investment’s profitability.

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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