Payne Associates New Homes and Land says ..

Property Oracle says ..

This property listing is for a residential building plot in the Cheylesmore area of Coventry. The plot includes a somewhat overgrown garden area and an existing dilapidated garage. The listing highlights the rarity of such plots in this established, sought-after area, which is known for its family-friendly atmosphere, good schools (Manor Park Primary School is very close by), and convenient proximity to amenities and the city centre. The plot benefits from already obtained planning permission. Nearby property prices in Cheylesmore are notably higher, ranging from £192,000 to over £475,000 for houses. However, the absence of a property on the lot in question means that the value is primarily that of the land itself. The photos demonstrate that the land requires some clearing and potentially significant groundwork before construction can begin. Buyers should factor in the cost of demolition and site preparation in addition to the construction of a new dwelling. Considering the location’s desirability, and the comparatively lower price compared to nearby properties, this plot offers development potential. The lower overall price compared to nearby homes may be attributed to the need for significant work on the site. Potential buyers will need to factor in associated costs to accurately assess the overall investment, and factor in potential complications of obtaining funding for such a project. A detailed survey of the land and existing structure would be essential before committing to any purchase.

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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