Maxey Grounds says ..

Property Oracle says ..

This listing is for a development opportunity in March, Cambridgeshire. The land, located off The Brewin Chase, has outline planning consent approved for the construction of eight detached dwellings. There is no affordable housing requirement, making the project potentially more profitable for the developer. The site is described as being ‘well located close to local amenities in the centre of March.’ This is supported by the proximity to schools (Burrowmoor Primary School, Westwood Primary School, All Saints Interchurch Academy, Neale-Wade Academy, and Cavalry Primary School), some of which have ‘Good’ Ofsted ratings, and March railway station. The lack of specified square footage or plot size in the listing necessitates reliance on the description and provided plans to assess the size and potential of the site. The absence of existing structures means there is no comment on the condition of the property. The price of £525,000 is significant, but the ability to construct multiple homes significantly impacts the valuation. Further investigation into comparable land sales and development costs in the March area would be necessary for a complete financial assessment. Overall, this appears to be a potentially viable development prospect, but it requires in-depth due diligence. Comparing the listed price of this property to the listed prices of nearby completed properties needs to be carried out to truly verify the reasonableness of the price. A detailed financial feasibility study incorporating local build costs, land taxes, planning fees and estimated selling prices of the new build properties would determine the success of this venture.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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