Martin Maslin says ..

Property Oracle says ..

This property presents a development opportunity encompassing approximately 1.48 acres of land situated on Station Road in New Waltham, Grimsby. The site already has outline planning permission for the construction of eight detached dwellings, including garages. The site’s proximity to Tollbar Academy, an outstanding-rated school, is a significant positive. The relatively large plot size offers considerable scope for development, which could be attractive to builders or investors.

However, the absence of specific details regarding the planning permission, including any conditions or restrictions, means a thorough due diligence is crucial. Further investigation into the potential development costs, including infrastructure, construction, and marketing expenses, is necessary to assess the financial viability of the project. Market research on comparable properties and the average price per square foot is needed to accurately evaluate the list price of £525,000, and to see if this figure offers a good return on investment after covering all expenses. The property images show a large area of land and what seems to be some existing buildings that need to be considered when doing the analysis. More information is needed to provide a complete and accurate analysis.

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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