Potential Development Site – Kent
A property opportunity located in Kent, which is currently available through an off-market deal. The vendor has indicated a willingness to entertain offers at £450,000 for quick transaction proceedings.
This site presents a potential development prospect, contingent upon obtaining planning permissions, wherein the construction of 3-5 residential units may be feasible, subject to planning. Notably, the existing structure has the capacity to accommodate up to three of these proposed units, subject to extension.
According to local estate agents, comparable local properties command prices ranging from £250,000 to £275,000 per unit; however, thorough due diligence is advised to ascertain precise market valuations.
Outlined below are the pertinent financial details:
- Purchase Price: £450,000
- Fee: £10,000
- Gross Development Value (GDV): Estimated at £750,000 to £1,300,000
Build cost would depend based on what is proposed, naturally as would the gdv.
