Land Adjacent to 24 Broadhope Avenue, Stanford-le-Hope, Essex, SS17 0SJ

Description

A Plot of Land Measuring Approximately 191 sq m (2,056 sq ft) Offered With Planning Permission for the Erection of 2 x One Bedroom Flats

Location

The land is situated on a residential road close to local shops and amenities. The open spaces of Stanford-le-Hope Recreation Ground are within easy reach. Transport links are provided by Stanford-le-Hope rail station.

Tenure / Property Information

Investment Analysis

The plot has stated planning permission for 2 x one-bedroom flats with private parking. The supplied sold comparables are terraced houses, not flats or development land, so they do not support a reliable GDV. The £1,150 pcm rental listing is not confirmed as a one-bedroom flat, while the £1,850 pcm listing is for a three-bedroom property; neither supports a reliable unit-specific rent. Construction, professional, finance, statutory and abnormal development costs are not supplied. The £1,800 inc VAT administration charge is known, but further disbursements and other legal/search/transfer charges may apply.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity only. Do not bid without reviewing the planning decision and conditions, title/legal pack, confirming buildability and obtaining independent GDV, rent and full development-cost appraisals.

Works Required

Subject to the planning permission and legal pack, develop the land into 2 x one-bedroom flats with private parking. No build specification, construction cost, professional-fee allowance, utility strategy or abnormal-works information has been supplied, so a works budget cannot 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 because there is no supported GDV, construction budget, completed rental evidence or refinance valuation. The project would also require development funding before any refinance could be assessed.

Buy-to-Let Analysis

BTL viability cannot be established. The supplied rents are not sufficiently specific to one-bedroom flats, and no development cost or total project cost is available. The known guide is £60,000+ plus the £1,800 administration charge and potentially further purchaser costs.

Flip Analysis

A flip surplus cannot be calculated. The supplied £310,000–£360,000 Broadhope Avenue sales are terraced-house transactions and are not reliable evidence for the completed value of two one-bedroom flats. Build and selling costs are also unavailable.

Investor Risks & Due Diligence

• The supplied sold comparables are terraced houses and may not reflect the value of the proposed flats.

• Rental evidence is not confirmed for one-bedroom flats, so rental income and yield are unsubstantiated.

• Construction, professional, finance, statutory and abnormal development costs are unknown.

• Further disbursements, search fees, seller-cost reimbursements, legal fees and transfer fees may be payable under the auction terms.

• Planning conditions, title constraints, access, services and buildability have not been supplied or verified.

Recommendation

Treat as a planning-led development opportunity only. Do not bid without reviewing the planning decision and conditions, title/legal pack, confirming buildability and obtaining independent GDV, rent and full development-cost appraisals.

Strategy Rating

Analysis Confidence

Planning use and plot size are supplied, but there is no relevant flat/development comparable evidence, no confirmed one-bedroom-flat rent, no construction budget, no completed specification and no supported GDV.