Land Adjacent to 35 Ockham Drive, Orpington, Kent, BR5 3DT

Description

A Plot of Land Measuring Approximately 161 sq m (1,734 sq ft). The lot comprises a plot of land measuring approximately 161 sq m (1,734 sq ft). Plans have been drawn up for the erection of a two bedroom dwelling. No planning application has been submitted for this scheme. Drawings of the proposed plans are available for inspection upon request. Auction House London make no representations or warranties with regard to this scheme and/or the validity of the aforementioned plans. Buyers must rely on their own enquiries with regard to any development potential, permissions required and any previous planning history in respect of this site.

Location

The land is situated on a residential road close to local shops and amenities. The open spaces of Watermeadows are within easy reach. Transport links are provided by Sidcup rail station.

Tenure / Property Information

Investment Analysis

The supplied evidence confirms a 161 sq m freehold land plot with drawings for a proposed two-bedroom dwelling, but no planning application has been submitted and the auctioneer gives no assurance as to development potential or validity of the plans. Nearby completed sales range from £290,000 to £355,000, but these are existing houses and are not directly comparable to the subject land or a consented new-build dwelling. A supported GDV cannot therefore be established.

Investment Snapshot

Strategy Recommendation

Do not bid on an investment appraisal basis without satisfactory planning, legal, access, services and build-cost due diligence. Treat the opportunity as speculative development land only.

Works Required

Undertake planning, legal, title, access and services due diligence. If acceptable planning permission is obtained, construct the proposed two-bedroom dwelling in accordance with an approved scheme. No build scope, specification or cost evidence has been supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten from the evidence. Planning consent, build costs, completed value, rent, finance costs and project duration are all unsupported or unavailable, so refinance proceeds and cash left in cannot be calculated.

Buy-to-Let Analysis

BTL cannot be assessed because the site is currently land, no dwelling exists, and no sufficiently specific rental comparable or auctioneer rent estimate is provided. Development and planning costs are also unknown.

Flip Analysis

A flip appraisal cannot be established. The nearby sales relate to existing houses rather than this unconsented plot, while construction costs, professional costs, planning outcome and selling costs are not provided. The £1,800 inc VAT administration charge and any legal-pack disbursements would be additional to the purchase price.

Investor Risks & Due Diligence

• No planning application has been submitted for the proposed dwelling.

• The auctioneer gives no warranty regarding the drawings, development potential or planning history.

• The nearby sold comparables are existing houses and may not represent the value of this unconsented land.

• Build, professional, finance and selling costs are not supplied.

• Additional legal-pack disbursements, search fees, seller costs, legal fees or transfer fees may become payable.

• No rental evidence or passing income is available.

• Access, services, title and other site constraints require purchaser due diligence.

Recommendation

Do not bid on an investment appraisal basis without satisfactory planning, legal, access, services and build-cost due diligence. Treat the opportunity as speculative development land only.

Strategy Rating

Analysis Confidence

The evidence identifies the plot size, tenure, guide range, proposed concept and nearby house sales, but provides no planning consent, verified GDV, build costs, rental evidence, site-services information or complete purchaser-cost schedule.