Garage and Land to the Rear of 51 Ferguson Avenue, Romford, Havering, RM2 6RP

Description

A Plot of Land Measuring Approximately 75 sq m (809 sq ft). The lot comprises a plot of land measuring approximately 75 sq m (809 sq ft). Plans have been drawn up for the erection of two bedroom detached house. No planning application has been submitted for this scheme. Drawings of the proposed plans are available for inspection upon request.

Location

The land is situated on a residential road close to local shops and amenities. The open spaces of Harold Wood Park are within easy reach. Transport links are provided by Gidea Park underground station (Elizabeth line) and the M25.

Tenure / Property Information

Investment Analysis

The freehold plot is approximately 75 sq m (809 sq ft), with drawings for a proposed two-bedroom detached house but no planning application submitted. Nearby completed sales on Ferguson Avenue range from £400,000 to £585,000, but they relate to existing terraced and semi-detached houses and do not provide a reliable GDV for an unconsented development plot. The £25,000+ guide is subject to the £1,800 inc VAT administration fee and any legal-pack disbursements. Planning, design, construction and resale evidence is insufficient for a supported valuation or maximum bid.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity only. Obtain and review the legal pack, drawings, title, access and planning position, then secure independent planning and build-cost advice before bidding.

Works Required

Progress the proposed two-bedroom detached house scheme through planning and any required design, technical, building-control and construction stages. The evidence confirms drawings exist but does not confirm planning permission, approved specifications or construction requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy would depend on obtaining planning permission, funding and completing the proposed house before refinancing. No construction-cost evidence, permission, completed valuation or finance costs are supplied, so refinance proceeds, equity requirement and cash left in cannot be calculated.

Buy-to-Let Analysis

The land has no stated accommodation and therefore cannot currently support a BTL assessment. Rental evidence is limited to advertised asking rents of £1,650 pcm for two-bedroom flats in Havering and £2,150 pcm for one-bedroom houses in Hilldene Avenue; neither is a directly comparable completed two-bedroom detached house. Achieved rent, operating costs and post-development value are unavailable.

Flip Analysis

A flip or development resale may be possible if planning permission is secured and the proposed dwelling is built, but no planning outcome, build cost, specification, programme, selling costs or directly comparable two-bedroom detached sales are supplied. The Ferguson Avenue sales indicate local house values but are not sufficient to calculate a supported GDV or surplus.

Investor Risks & Due Diligence

• No planning application has been submitted for the proposed two-bedroom detached house.

• The proposed scheme may not receive planning permission or may require changes.

• No construction-cost estimate is supplied.

• Nearby sold comparables are existing terraced and semi-detached houses rather than comparable development plots or completed two-bedroom detached houses.

• Legal-pack disbursements may be payable in addition to the stated administration fee.

• The rental evidence comprises advertised asking rents for different property types and is not achieved rent for the proposed dwelling.

Recommendation

Treat as a planning-led development opportunity only. Obtain and review the legal pack, drawings, title, access and planning position, then secure independent planning and build-cost advice before bidding.

Strategy Rating

Analysis Confidence

The evidence confirms the plot size, tenure, guide, administration fee, indicative drawings and nearby house sales, but lacks planning permission, detailed specification, construction costs, development comparables, access information and directly comparable rental evidence.