Land to the Rear of, 38 Felstead Road, Romford, RM5 3RH

Description

Freehold Land of approximately 3,000 sq ft with further potential subject to the necessary consents being obtained. Note: There is vehicular right of way access to the land.

Location

Situated off Chase Cross Road and to the rear of 38 Felstead Road, in this popular residential area close to Romford Town centre and Romford Train Station.

Tenure / Property Information

Investment Analysis

The subject is approximately 3,000 sq ft of freehold land with vehicular right-of-way access and stated further potential subject to necessary consents. The supplied comparables are completed sales of houses on Felstead Road (£460,000–£610,000), not land transactions, so they do not support a land valuation or GDV. No planning status, permitted use, development scheme, service information, or site-specific valuation evidence is supplied. The £75,000+ guide and £1,500 buyer premium imply a minimum guide-plus-premium commitment of £76,500 before any applicable seller fees and other acquisition costs, but the likely purchase price is unsupported.

Investment Snapshot

Strategy Recommendation

Do not proceed on a conventional BTL or BRRR basis. Consider only as a planning-led land investment after satisfactory legal, access, servicing and planning due diligence; no evidence-supported maximum bid can be set.

Works Required

No refurbishment works are evidenced. The immediate requirements are to investigate planning and development potential, confirm the extent and legal terms of the vehicular right of way, establish access and servicing arrangements, and obtain any necessary consents before considering development works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be assessed because there is no evidenced dwelling, planning consent, refurbishment scope, rental income, or supported GDV. Refinance at 75% of GDV cannot be calculated.

Buy-to-Let Analysis

BTL analysis is not applicable on the supplied evidence because the asset is vacant land with no accommodation and no sufficiently specific rental comparable or auctioneer rent estimate. No rental yield can be established.

Flip Analysis

A flip surplus cannot be calculated. The nearby completed sales relate to houses rather than the subject land, while no planning permission, development layout, end value, construction cost, professional fee, finance cost, or selling allowance is supplied.

Investor Risks & Due Diligence

• Planning permission and development potential are unconfirmed.

• The legal extent and practical operation of the vehicular right of way require verification.

• No information is supplied on utilities, drainage, site constraints or servicing.

• House sale comparables are not directly applicable to valuing the land.

• The final purchase price is uncertain because the lot is offered at £75,000+ and applicable seller fees may be charged.

• No rental evidence or existing accommodation supports an income strategy.

Recommendation

Do not proceed on a conventional BTL or BRRR basis. Consider only as a planning-led land investment after satisfactory legal, access, servicing and planning due diligence; no evidence-supported maximum bid can be set.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, approximate land area, access wording, guide price, buyer premium and nearby house sales, but provides no planning position, lawful use, development scheme, land comparables, costs, GDV or rent.