Allen Heritage says ..

Property Oracle says ..

This property listing is for a development opportunity at Rainham Road in Medway, Kent. The site currently consists of vacant land with outline planning permission granted for twelve apartments across six blocks. The location has a positive aspect due to its proximity to several schools with good Ofsted ratings and to Gillingham train station. However, the surrounding area’s detailed character needs further evaluation. The site itself is vacant land, requiring comprehensive development, necessitating considerable investment. While the land area appears sizable, enabling the construction of twelve apartments, the absence of precise square footage measurements hinders complete assessment. Neighbouring property prices are significantly lower, raising concerns about the list price of £1,000,000. The viability of this project hinges critically on various development costs such as construction, infrastructure, and marketing, in addition to potential issues with obtaining financing and obtaining necessary permissions to start and complete construction. A comprehensive feasibility study considering market demand, construction costs, financing, and potential profit margins is crucial before making an investment decision. The property is of interest to developers and investors but caution needs to be exercised due to the size of the investment.

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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