Plot 9a, College Gardens, Rochford, Essex

Description

A freehold parcel of land measuring approximately 272 m² (2,925 ft²) with planning for a three bedroom detached family home with parking.

Accommodation

The proposed accommodation will comprise, on the ground floor, a living room/kitchen and cloakroom; on the first floor, two bedrooms and a family bathroom; and on the top floor, a master bedroom with en-suite.

Location

The site is approximately 0.4 miles from Rochford Town Centre, with Rochford Railway Station a short distance further on and London Southend Airport approximately 1.8 miles away.

Tenure / Property Information

Investment Analysis

The site has planning for a three-bedroom detached house. Same-development detached sales completed in 2022 ranged from £392,500 to £590,000. A base GDV of £430,500 is used, but the comparables are dated and no exact proposed-house valuation is supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain and verify the planning consent, full build budget, abnormal/site costs, professional fees, finance costs and exit valuation before considering development or resale.

Works Required

Construct the planning-approved three-bedroom detached dwelling, including the stated living room/kitchen, cloakroom, bedrooms, bathrooms, parking and associated site works. Construction costs and specification are not supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be assessed because acquisition fees, construction costs, finance costs, programme and completed rental value are unsupported. The indicative 75% refinance against the base GDV is £322,875, but cash left in cannot be calculated.

Buy-to-Let Analysis

BTL cannot be reliably underwritten. Rochford advertised rents range from £550 to £3,500 pcm, with materially inconsistent evidence including a £271 weekly listing alongside £3,500 pcm. No representative achieved or passing rent is supplied.

Flip Analysis

A potential resale value is supported by same-development sales of £392,500–£590,000, but build costs, professional costs, finance, selling costs and auction fees are absent. Flip surplus is therefore unquantifiable.

Investor Risks & Due Diligence

• Construction and professional costs are not supplied.

• Auction fees are stated as additional but not quantified.

• Planning consent details and conditions are not supplied.

• Comparable sales are from 2022 and vary substantially in value.

• Rental evidence is inconsistent and consists only of advertised asking rents.

• Site, abnormal ground and utility costs are unknown.

Recommendation

Do not bid on the supplied evidence alone. Obtain and verify the planning consent, full build budget, abnormal/site costs, professional fees, finance costs and exit valuation before considering development or resale.

Strategy Rating

Analysis Confidence

Same-development sales support a broad GDV range, but the evidence is dated and there are no construction costs, detailed planning documents, fees or reliable rental basis.