Land to the r/o, 112 Rectory Grove, Leigh-on-Sea, Essex, SS9 2HL

Description

Full Planning Permission has been granted to create a one bedroom bungalow on this Freehold site that is located in the heart of Leigh on Sea. Within walking distance of both Leigh Broadway and Railway Station the property will also benefit from its own private outside space. The plans can be viewed on the website of Southend on Sea City Council.

Accommodation

Planning permission has been granted to form a one bedroom bungalow measuring approximately 50 sq. m (538 sq. ft).

Location

Located in the heart of Leigh on Sea, within walking distance of both Leigh Broadway and Railway Station.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are semi-detached and terraced houses on Rectory Grove, not a completed 50 sq. m one-bedroom bungalow or development site. They therefore do not support a reliable GDV for this scheme. The £80,000 guide is the only supplied acquisition figure; buyer, administration and other fee amounts are not provided. A GDV, build cost and maximum bid cannot be established from the evidence.

Investment Snapshot

Strategy Recommendation

Proceed only as a planning-led development appraisal subject to reviewing the full planning permission and plans, obtaining a detailed build-cost estimate, and securing bungalow-specific GDV and rental evidence. Do not bid on the supplied evidence alone.

Works Required

Construct the permitted approximately 50 sq. m (538 sq. ft) one-bedroom bungalow on the freehold site, including the private outside space described. The supplied evidence does not specify construction details, finishes, services, access arrangements or external works.

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 the evidence does not provide a completed GDV, construction budget, finance costs, rent or refinance assumptions. The £80,000 guide cannot be tested against the eventual refinance value.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent and yield cannot be established. The proposed one-bedroom bungalow could potentially be assessed for letting only after supported local rent evidence and full development costs are obtained.

Flip Analysis

A flip surplus cannot be calculated. The supplied sales evidence relates to larger/different property types and does not establish the completed bungalow's resale value; construction costs, fees and selling costs are also absent.

Investor Risks & Due Diligence

• No reliable GDV evidence for the permitted one-bedroom bungalow.

• No construction or external-works cost estimate is supplied.

• Buyer, administration and other fee amounts are not quantified.

• No supported rental evidence or passing rent is available.

• The full planning permission, plans and any conditions have not been provided for review.

Recommendation

Proceed only as a planning-led development appraisal subject to reviewing the full planning permission and plans, obtaining a detailed build-cost estimate, and securing bungalow-specific GDV and rental evidence. Do not bid on the supplied evidence alone.

Strategy Rating

Analysis Confidence

Planning permission, approximate size, tenure, location and guide price are supplied, but there is no bungalow-specific valuation evidence, build-cost information, rental evidence or quantified auction fees.