Land Adjacent to 103 Ashfield Avenue, Bushey, Hertfordshire, WD23 4HJ

Description

A Plot of Land Measuring Approximately 220 sq m (2,368 sq ft). Planning has been Submitted for the Erection of a Three Bedroom House.

Location

The land is situated on a residential road close to local shops and amenities. The open spaces of King George Recreation Ground are within easy reach. Transport links are provided by Bushey overground station and rail station.

Tenure / Property Information

Investment Analysis

The five supplied Ashfield Avenue completed sales range from £423,000 to £645,000, with an average of approximately £533,600. The latest supplied sale, 103 Ashfield Avenue, completed at £535,000 on 18 June 2026. These are semi-detached house sales, whereas this is a 220 sq m plot with planning submitted, not confirmed, for a three-bedroom house. A base GDV of £535,000 is therefore a cautious evidence-led indication only; the proposed house design, planning outcome and build specification are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only as a conditional land-development opportunity after verifying the planning application and legal pack and obtaining a full build-cost appraisal. Do not rely on the guide-price-only yield or bid without confirmed development costs and required disbursements.

Works Required

If planning is approved, the project would involve constructing the proposed three-bedroom house on the approximately 220 sq m plot. No construction specification, professional fees, utilities, groundworks, landscaping or other development-cost evidence is supplied, so no works allowance can be estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably. The indicative 75% refinance of the £535,000 base GDV is £401,250, but construction costs, professional costs, finance costs, planning outcome and total project cost are unavailable. Cash left in and refinance viability therefore cannot be established.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,000 pcm for a three-bedroom property in WD23 3XX, equivalent to £24,000 annually. The guide-price-only arithmetic produces a 36.92% gross yield, but this is not a meaningful BTL yield because the asset is currently land and development costs, completion timing and total cost are unknown. The advertised rent is not a passing or achieved rent.

Flip Analysis

The supplied completed sales support a potential completed-house GDV range of £525,000 to £645,000, with £535,000 as the base case. However, no build-cost evidence or supported selling-cost allowance is supplied, so project cost and flip surplus cannot be calculated. The comparable evidence is also for semi-detached houses rather than the proposed dwelling.

Investor Risks & Due Diligence

• Planning has been submitted but approval is not confirmed.

• The proposed house design, floor area and specification are not supplied.

• Construction and associated development costs cannot be estimated from the evidence provided.

• Disbursements and other purchaser costs may be payable, including potential search, seller, legal and transfer costs.

• The rental figure is an advertised asking rent rather than an achieved or passing rent.

• The sold comparables are semi-detached houses and may not be directly comparable with the proposed dwelling.

• Total project cost and maximum bid cannot be established.

Recommendation

Proceed only as a conditional land-development opportunity after verifying the planning application and legal pack and obtaining a full build-cost appraisal. Do not rely on the guide-price-only yield or bid without confirmed development costs and required disbursements.

Strategy Rating

Analysis Confidence

There is useful local completed-sale evidence and one rental asking figure, but planning is only submitted, the proposed design is not supplied, and all development, professional, finance and selling costs are unavailable.