Moore & Partners says ..

Property Oracle says ..

This listing presents a development opportunity for the former ‘Royal Pub’ on Harbour Parade in Ramsgate. The property has planning permission (F/TH/22/0769) to convert it into a building containing ten apartments and commercial space. The location is prime, within Ramsgate’s central harbour area, providing exceptional views and proximity to amenities and transport links. Schools and other essential services are also relatively close by. However, the current structure of the building is visibly dated and in need of extensive renovation or complete rebuilding as implied in the planning permissions. The provided architectural plans demonstrate the intended transformation. The listed price of £1,100,000 appears to reflect current Ramsgate property values, however the viability of the project hinges on successful development and the resulting market value of the completed apartments and commercial spaces. Potential buyers should factor in development costs and the associated market risks when evaluating the listed price. The lack of information regarding the square footage of the plot and building, as well as the number of bedrooms and bathrooms before and after development makes a thorough cost analysis impossible.

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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