Land to the Rear of 8 Birds Close, Welwyn Garden City, Hertfordshire, AL7 4AR

Description

A Plot of Land Measuring Approximately 110 sq m (1,189 sq ft). Potential for Development (Subject to Obtaining all Relevant Consents). The lot comprises a plot of land measuring approximately 110 sq m (1,189 sq ft). Plans have been drawn up for the erection of a one bedroom dwelling. 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 Caponfield are within easy reach. Transport links are provided by Welwyn Garden City rail station and the A1(M).

Tenure / Property Information

Investment Analysis

The plot is approximately 110 sq m and has drawings for a proposed one-bedroom dwelling, but no planning permission, consent validity, proposed floor area, build specification or development valuation is supplied. Nearby completed sales range from £310,000 to £431,000 for existing houses, but these are not sufficient evidence of the value of the proposed completed dwelling or the land. A reliable GDV, build-cost appraisal and maximum bid cannot therefore be established. The guide is £15,000–£30,000 plus an £1,800 inc VAT administration fee, with possible additional legal-pack disbursements.

Investment Snapshot

Strategy Recommendation

Only consider as a conditional development opportunity after independent planning, legal, access, services and cost due diligence. Do not bid on the supplied evidence alone.

Works Required

Obtain planning and other required consents, verify the proposed one-bedroom scheme and undertake the construction works required by the approved plans. No detailed specification, condition survey, services information or build-cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not possible because planning status, completed dwelling value, construction cost, finance costs and achievable rent are unknown. The £1,800 administration fee and any legal-pack disbursements would also need to be included in a full appraisal.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied. BTL yield, cash flow and refinance capacity cannot be established. The proposed dwelling is also subject to obtaining the relevant consents and completing development.

Flip Analysis

A flip appraisal cannot be reliably calculated. Nearby house sales provide context for the area but do not establish the value of this proposed one-bedroom dwelling. No supported build cost, completed floor area, planning consent or selling allowance is available.

Investor Risks & Due Diligence

• Planning permission and the validity or deliverability of the proposed drawings are unconfirmed.

• The auctioneer gives no warranty regarding the proposed scheme or planning history.

• Build costs, completed floor area, services, access and site constraints are not supplied.

• Potential legal-pack disbursements are unknown.

• No sufficiently specific rental evidence is available.

• Nearby completed house sales are not directly comparable to undeveloped land or the proposed dwelling.

Recommendation

Only consider as a conditional development opportunity after independent planning, legal, access, services and cost due diligence. Do not bid on the supplied evidence alone.

Strategy Rating

Analysis Confidence

The evidence confirms the approximate plot size, freehold tenure, guide range, administration fee and existence of proposed drawings, but does not confirm planning permission, dwelling size, construction cost, GDV, rent or development feasibility.