John Pye Property says ..

Property Oracle says ..

This property listing presents two plots of land located in Matlock, Derbyshire, at Smedley Street. The land is currently undeveloped, with photos showing overgrown vegetation and what seems to be an old, abandoned structure. The listing specifies that pre-auction offers are invited, indicating potential for a competitive bidding process. The location is advantageous due to its proximity to Matlock railway station, offering easy access to commuting routes and local amenities. Several schools are also within a reasonable distance. Nearby property prices vary considerably, suggesting a range of property types and values in the area. Although there is some existing infrastructure, the plots require considerable work and investment before any development can commence, and this will considerably impact the overall cost of development. The lack of basic property details like square footage and the absence of bathrooms and bedrooms are significant factors to consider. The absence of these details requires buyers to obtain further information before making an informed investment decision. Prospective buyers should carefully assess the planning permission and development costs to ensure the project’s financial viability. The price of £250,000 appears reasonable for the location and the potential value of the land after development, but the condition of the site and the need for significant investment need to be considered. Given its undeveloped nature, those seeking a ready-to-move-in property would find this listing unsuitable. Instead, this property represents an opportunity for developers or investors looking to undertake a redevelopment project.

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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