Oak Meadow, Moores Lane, East Bergholt, Colchester, Essex, CO7 6SU

Description

A Freehold Plot of Land Measuring Approximately 1.426 sq m (15,349 sq ft) Offered With Planning Permission for the Erection of a Four Bedroom Detached House and a Three Bedroom Detached Bungalow. Works have Commenced.

Accommodation

Plot One: Ground Floor: Two Reception Rooms, Kitchen, Bathroom, Integral Garage. First Floor: Four Bedrooms (One with En-Suite), Bathroom. Plot Two: Ground Floor: Reception Room with Open-Plan Kitchen, Three Bedrooms (One with En-Suite), Bathroom, Garage.

Location

The land is situated on a residential road close to local shops and amenities. There are numerous green open spaces within easy reach. Transport links are provided by the A12.

Tenure / Property Information

Investment Analysis

Freehold development land with permission for a four-bedroom detached house and three-bedroom detached bungalow; works have commenced. The supplied sold comparables are detached houses but do not establish GDV for these permitted dwellings. No floor areas, build-cost evidence, valuation or rental evidence is supplied.

Investment Snapshot

Strategy Recommendation

Development appraisal only after reviewing the legal pack, planning permission, commencement evidence, remaining works and independent GDV/build-cost advice.

Works Required

Complete the permitted construction of the four-bedroom house and three-bedroom bungalow, subject to verification of the planning position, works completed and technical/legal documentation.

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 GDV, remaining build costs, total project costs and achievable rents are unsupported. Refinance at 75% of GDV cannot be calculated.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied. Rental yield cannot be established. The asset is currently development land with works commenced, not evidenced as income-producing.

Flip Analysis

A flip calculation cannot be supported. The guide is £395,000 plus fees and the £1,800 administration charge, but remaining construction costs, GDV and selling costs are unavailable.

Investor Risks & Due Diligence

• GDV is not established for the two permitted dwellings.

• Remaining construction costs and condition of commenced works are unknown.

• Special Conditions may require search fees, sellers’ costs, legal fees, transfer fees and other disbursements.

• No rental evidence supports a BTL or refinance strategy.

• The supplied sold comparables are not sufficiently specific to value the permitted scheme.

Recommendation

Development appraisal only after reviewing the legal pack, planning permission, commencement evidence, remaining works and independent GDV/build-cost advice.

Strategy Rating

Analysis Confidence

Planning and accommodation descriptions are supplied, but there is no verified GDV, floor area, build-cost estimate, rental evidence or detail of works completed.