Cheffins Residential says ..

Property Oracle says ..

This property in Royston, Hertfordshire, presents itself as a substantial Victorian building, currently listed for £1,000,000. With 16 bedrooms and a total area of 2,475.70 sqft, the property is listed as LAND, indicating the property is ripe for development. The building’s location on Kneesworth Street provides excellent access to Royston town centre, with its shops, services and the train station approximately 0.29km away. Several nearby schools are also within walking distance, making the location attractive for families or those looking to rent to families.

The external photos reveal a traditional brick building that appears generally well-maintained from the street, though closer inspection of the back and aerial shots show some areas that appear to need some minor improvements. The property has a parking area but does not have a large garden.

The property has outline planning permission for conversion into 10 private apartments, adding significant potential value. The price seems reasonable considering the potential for redevelopment and the location, but a thorough professional survey is recommended to fully assess the condition of the building and the costs associated with renovation and conversion. A comparable market analysis is also essential to accurately gauge the market value of the finished apartments. The absence of bathroom information and detailed plot size information prevents a precise estimation of the price per sq ft and potential profitability of the redevelopment plan.

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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