Kallars says ..

Property Oracle says ..

This property on Grange Road, Norwood, London is presented as a development opportunity. The listing does not provide square footage for the existing property, making a direct price-per-square-foot comparison with nearby listings challenging. The aerial photo reveals the property’s location on Grange Road, showcasing its relatively small plot compared to some neighboring properties. Nearby listings indicate a range of property prices from £375,000-£750,000 which is quite broad. However, several nearby properties on Grange Road itself, are sold for a similar price range to the subject property.

The architectural plans suggest a potential conversion of the existing building into a three-bedroom, two-bathroom property. The plans indicate the creation of two flats from the original dwelling. The feasibility and profitability of such a project need further investigation considering building costs, planning permissions, and potential rental yields or resale values. The proximity to amenities, including schools and transport links such as Norwood Junction and Crystal Palace stations adds to the properties value, making it potentially a favorable investment provided the development can overcome any costs and uncertainties inherent to such ventures. However, the lack of clear specification and the need for significant renovations makes it a high-risk proposition, and thus the price needs to reflect those issues. Ultimately, a comprehensive feasibility study is necessary before determining this price to be fair.

The nearby schools (All Saints Cofe Primary School, Cypress Primary School, David Livingstone Academy, Beulah Infants’ School, Beulah Junior School) are all rated “Good” or “Outstanding” by Ofsted, which is positive for potential residents. The proximity to various train stations ensures a relatively good transportation links into central London.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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