Land Adjacent to 50 Camelot Close, Thamesmead, London, SE28 0ET

Description

A Plot of Land Measuring Approximately 217 sq m (2,331 sq ft) Offered With Planning Permission for the Erection of a Two Bedroom House.

Location

The land is situated on a residential road close to local shops and amenities. The open spaces of Broadwater Green are within easy reach. Transport links are provided by Woolwich/Plumstead Road rail station.

Tenure / Property Information

Investment Analysis

The plot is approximately 217 sq m and has stated planning permission for a two-bedroom house. Nearby completed sales range from £290,000 to £350,000, with the most relevant recent evidence at 50 Camelot Close (£330,000, August 2024) and 66 Camelot Close (£328,000, November 2024). A base GDV of £330,000 is therefore used, with a cautious evidence-based range of £290,000–£350,000. These are sales of existing properties, not completed new-build sales, so the GDV remains indicative. Development and construction costs are not supplied and prevent a reliable maximum bid or profit calculation.

Investment Snapshot

Strategy Recommendation

Proceed only as a fully costed planning-led development after reviewing the legal pack and confirming the planning permission, build specification, utilities and all development costs. Do not rely on the guide-price yield or bid without a verified feasibility appraisal.

Works Required

Use the stated planning permission to develop and erect the proposed two-bedroom house. The evidence does not provide construction specifications, surveys, utility information, external works, professional fees, financing costs or a construction budget, 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

At a base GDV of £330,000, 75% refinance would be approximately £247,500. However, construction costs, professional costs, finance costs, purchase disbursements and the final valuation are unknown, so total equity required and cash left in cannot be calculated. BRRR viability is therefore unproven.

Buy-to-Let Analysis

The only directly relevant rental evidence is an advertised asking rent of £2,100 pcm for a two-bedroom property in SE28. This implies £25,200 annual rent and a superficial 29.65% gross yield against the £85,000 guide, but that calculation excludes the cost of acquiring and building the house. A true BTL yield cannot be established without the total development cost and completed-property rental evidence.

Flip Analysis

A potential resale value is indicated by nearby completed sales, with a base GDV of £330,000. No construction or development budget, selling allowance, finance cost or full legal-pack disbursement information is supplied, so flip surplus and maximum bid cannot be calculated. The comparable evidence is also for existing properties rather than this proposed dwelling.

Investor Risks & Due Diligence

• Construction and professional costs are not supplied, preventing a reliable maximum bid or profit calculation.

• The sales comparables are existing properties and may not represent the value of the proposed new house.

• The £2,100 pcm figure is an advertised asking rent rather than achieved rent and is based on only one directly relevant SE28 listing.

• Planning permission details, conditions, expiry, Community Infrastructure Levy and other obligations are not provided.

• The legal pack may contain additional search fees, seller-cost reimbursements, legal fees, transfer fees or other disbursements.

• Utilities, access, ground conditions, surveys, build specification and external works are not evidenced.

Recommendation

Proceed only as a fully costed planning-led development after reviewing the legal pack and confirming the planning permission, build specification, utilities and all development costs. Do not rely on the guide-price yield or bid without a verified feasibility appraisal.

Strategy Rating

Analysis Confidence

Recent local completed-sale evidence and stated planning permission support an indicative GDV, but construction costs, planning details, legal-pack disbursements, completed-property rent evidence and development finance assumptions are absent.