Lacy Scott & Knight says ..

Property Oracle says ..

This property listing is for a plot of land at Lower Green, Risby, with detailed planning permission already granted for the construction of a terrace of three dwellings. The location in Risby, Suffolk offers a desirable village setting, conveniently located near highly-rated primary schools and within reasonable travelling distance to Bury St Edmunds. However, the property itself is currently undeveloped, as shown in the photographs provided; this is essentially the purchase of a plot of land, not a home. The images show that the land has been cleared for construction and the site is currently fenced. The asking price of £300,000 would need to be viewed in the context of construction costs to assess the overall value. This is a project for someone with the intention of development, rather than immediate occupation, therefore purchasers will have to add the costs of building to their overall budget. While comparable properties nearby are listed at significantly higher prices, these are finished properties. Therefore, while there is potential in the location and the planning permission, the current state of the property and potential future construction costs significantly affect the assessment of its value. The provided data lacks crucial details such as the actual plot size (which is only approximately given) and the precise dimensions of the planned dwellings. The availability of detailed architectural plans, should be checked as a next step.

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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