Allsop says ..

Property Oracle says ..

This property presents a unique opportunity for a development project in a highly sought-after area of Barnes. The current listing is for a plot of land adjacent to 81 Rosslyn Avenue, with planning permission already granted for the demolition of existing garages and the construction of a new dwelling, complete with basement level, landscaping, and parking.

The location is undoubtedly a major selling point, with proximity to outstanding schools like Barnes Primary School and excellent transport links via Barnes Bridge station. The area is characterized by its attractive residential streets and proximity to Barnes Common, offering a desirable lifestyle.

The provided CGI images showcase a planned modern three-bedroom, five-bathroom property with a contemporary design. This projected final product looks appealing; however, the current condition of the land is far from impressive; it requires significant redevelopment.

The plot size is not extensive, but sufficient for the proposed construction. A key element to consider is the list price of £595,000. Although seemingly high for a vacant plot, this reflects the value of both the land and the already-approved development project. The final price will depend on the quality of the completed building. Overall, this property is a risk, a high-risk investment, that offers potentially significant returns upon completion of the development.

Investors should carefully review the planning documents and conduct thorough due diligence before making a purchase decision. It is important to seek professional advice from a quantity surveyor, and possibly an architect to independently assess the cost of completion and projected sale value. This will help assess the viability of the proposed development project.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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