Reside Estate Agency says ..

Property Oracle says ..

This listing presents a development opportunity in Heywood, Greater Manchester, specifically a building plot situated on Wham Street & Duke Street. The site’s location offers access to local amenities including several primary schools (some rated ‘Good’ by Ofsted), and train stations such as Castleton (Manchester) located within a radius of 6-9 KM. The aerial view shows a mixed residential area in a seemingly established neighborhood. Local shops and pubs are also within walking distance, providing a degree of convenience.

However, the property is not a habitable building and will require significant financial investment for demolition, construction of the planned residential units, and obtaining the necessary planning permissions. The proposed development plans illustrate a potential multi-unit residential build, but critical details are missing: the number of units, specifications, and the total build costs. The listing’s price (£500,000) is significant and, without further information on potential returns, needs careful evaluation. Comparatively, nearby properties on Duke Street, while varying in price, show a much lower value per square foot than what’s implied in this listing. Potential investors should conduct thorough due diligence, including costing the build, acquiring all necessary permissions and undertaking comprehensive market research to assess the financial viability before committing to this project. This will ensure the final product meets a profitable financial model.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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