The Surveyors Pit, Gressenhall Road, Gressenhall, Dereham, Norfolk NR20 4HF

Description

Rare opportunity to purchase 3.42 acres (stms) of mature woodland This rectangular parcel of mature woodland extends to around 3.42 acre (stms). Formerly an old gravel pit it is located between residential properties in a semi rural location accessed off Gressenhall Road. The land has been in the same ownership for many years and will be sold with vacant possession. It is located around three miles north of Dereham. On instruction of charitable trustees

Location

The Surveyors Pit, Gressenhall Road, Gressenhall, Dereham, Norfolk NR20 4HF. Located in the NR20 postcode district. Verify exact position, access, local demand and comparable evidence before bidding.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Development. Set the maximum bid only after reviewing condition, legal pack, finance, rents and sold evidence.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, decoration and any structural, roofing, damp, kitchen, bathroom, external or development works identified.

Rental & Market Context

HB rental/value figures are indicative appraisal estimates and should be checked against current local letting and sold evidence.

Sold within approximately 5 miles

Check recent Land Registry transactions and closely matched local comparables for property type, size, tenure and condition.

Potential BRRR Position

Refinance potential depends on the completed condition, lender valuation, tenure and rental stress testing; development/commercial assets require specialist lender criteria.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the full legal pack and special conditions

• Verify tenure, occupancy, planning and title restrictions

• Inspect condition and obtain contractor quotations

• Confirm finance and insurance availability

• Verify rents and recent sold comparables

• Allow for buyer premium, administration charges and disbursements

Recommendation

Proceed only where verified total project cost supports the intended development strategy with adequate contingency.

Strategy Rating

Development: ★★★★☆ | Resale: ★★★★☆ | Buy-to-Let: ★★☆☆☆