Higgins Drysdale National Property Auctions says ..

Property Oracle says ..

The Chapel & Mortuary is a unique property located on Canterbury Road in Westbrook, Thanet. Its conversion potential is significant, given its size and location.

The property’s proximity to the beach and the Royal Sea Bathing Hospital is a major plus, suggesting a strong potential for rental income or a high sale price once renovated. Several good schools are within a reasonable distance, further enhancing its appeal. The presence of Southeastern train services nearby also improves accessibility.

However, the images clearly indicate that the property is in need of substantial renovation. The building shows significant signs of disrepair and neglect, requiring extensive work before it becomes habitable. This will, of course, add considerably to the overall cost of the project. The lack of plot size information makes it difficult to assess the land value accurately.

Considering the average house price in the area and the extensive renovation required, the list price of £700,000 appears high. While the location and potential are attractive, the considerable cost of refurbishment needs to be factored into any valuation. A thorough survey and detailed costings for the renovation are essential before making a purchase decision. The lack of sqft data for the property makes a definitive price per sqft comparison impossible.

The property presents a significant risk and reward proposition. A careful assessment of the renovation costs is crucial to determine its financial viability. The property’s unique character and location offer considerable potential, but the significant investment required must be carefully considered.

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

Images