64 Pondcroft Road, Knebworth, Hertfordshire, SG3 6DE

Description

A Five Bedroom Detached Bungalow Situated on a Large Plot of Land Measuring Approximately 0.23 Acres / 930 sq m (10,018 sq ft). Offered With Planning Permission in Principle (PIP) for the Demolition of Existing Bungalow and Outbuildings and the Erection of Four New Houses (2 x Four/Five Bed Detached and 2x Four/Five Bed Semi-Detached).

Accommodation

Ground Floor: Two Reception Rooms, Kitchen, Four Bedrooms (One with En-Suite), Bathroom. Proposed accommodation: 2x detached houses and 2x semi-detached houses, each with a ground-floor reception room and kitchen, and first-floor four/five bedrooms (one with en-suite) and bathroom.

Location

Situated on a residential road close to local shops, amenities and public transport, with further facilities available in Stevenage to the north. Knebworth rail station is within 500m with regular services to London (Kings Cross 22 mins). The A1(M) north and south is within easy reach. Knebworth Recreation Ground is nearby.

Tenure / Property Information

Investment Analysis

The £775,000+ guide is broadly close to the strongest supplied local comparable: 55 Pondcroft Road sold for £768,500 in September 2024. Other supplied comparables range from £565,000 to £735,000, but they are earlier sales and no adjustment evidence is provided. The guide may therefore be broadly supported for the existing property, but the value of the proposed four-house scheme cannot be established because no development comparables, GDV evidence, construction budget or professional valuation is supplied.

Investment Snapshot

Strategy Recommendation

Treat as a development opportunity only after reviewing the legal pack and validating the PIP, obtaining a full cost plan and securing independent GDV evidence for all four proposed houses. Do not rely on rental or flip returns from the supplied evidence alone.

Works Required

Existing bungalow and outbuildings are proposed to be demolished under the stated Planning Permission in Principle, followed by construction of four houses: two detached and two semi-detached. Detailed construction specifications, abnormal costs, professional fees and programme are not supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be quantified. No refurbishment or redevelopment budget, completed GDV, rental evidence, finance costs or detailed consent conditions are supplied. The stated PIP provides development potential, but viability remains unverified.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is vacant and the proposed redevelopment would materially change the accommodation.

Flip Analysis

A flip/development surplus cannot be calculated because the GDV of the four proposed houses, construction costs, professional costs, finance costs, selling costs and programme are unknown. The supplied local sales evidence relates to detached properties and does not establish values for the proposed scheme.

Investor Risks & Due Diligence

• Development GDV for the four proposed houses is unsupported.

• Construction, demolition, professional, finance and selling costs are not supplied.

• PIP conditions and the requirements for any subsequent detailed planning approval are not evidenced.

• Additional legal-pack disbursements and special-condition charges may be payable.

• The property is vacant, and no rental evidence is available.

• The description states five bedrooms, while the accommodation schedule states four bedrooms.

Recommendation

Treat as a development opportunity only after reviewing the legal pack and validating the PIP, obtaining a full cost plan and securing independent GDV evidence for all four proposed houses. Do not rely on rental or flip returns from the supplied evidence alone.

Strategy Rating

Analysis Confidence

There is useful local completed-sale evidence and a stated PIP, but no development GDV, works budget, rental evidence, detailed planning information, buyer premium or complete fee schedule. The description also refers to five bedrooms while the listed ground-floor accommodation states four bedrooms.