Allen Heritage says ..

Property Oracle says ..

This property in South Sutton presents a unique opportunity: a back-land plot with planning permission to build a four-bedroom detached house. The location is a positive factor, with good proximity to transport links (Sutton station) and several schools rated as ‘good’ by Ofsted. The area appears to have a mix of property types and price points, indicating a diverse and potentially healthy market.

However, the existing structure is a dated garage requiring substantial work or demolition. The lack of specific details about the land’s size and the proposed new house dimensions limits a complete analysis. Determining the true value relies heavily on the final build size and prevailing construction costs. The list price of £400,000 for a plot requiring significant development, without a clearer idea of the final product, introduces some level of uncertainty regarding its market value. Further due diligence, particularly regarding construction costs and the overall footprint of the planned property, is recommended before committing to the purchase.

Investors should consider factors such as construction costs, market trends, and potential rental yields to evaluate this investment prospect thoroughly. The current information provides a promising outlook but requires additional research to establish more accurate value. The planning permission is key and should be thoroughly checked.

The absence of key details like the exact plot size and the square footage of the planned house significantly impacts the overall assessment. While the location is appealing and the planning permission eliminates the risk of planning approval complications, uncertainty around costs and the finished product influence the final evaluation.

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