Pullen Estates says ..

Property Oracle says ..

This property at White House, Leesons Hill, St. Paul’s Cray, Orpington, BR5 2NH, presents a unique investment opportunity. Currently listed at £995,000, it’s a property with planning permission granted for conversion into three separate dwellings: two semi-detached and one detached house. The existing structure appears to be in fair condition, although modernisation may be needed to maximise the value upon completion of the building works. The property’s key selling point is undoubtedly the substantial plot size, offering significant development potential.

The location is favourable, being relatively close to local amenities including good primary schools and St Mary Cray train station, providing good transport links. However, more information would be needed to ascertain the proximity of shops, parks and other conveniences. The presence of a good sized garden adds to the property’s appeal.

The lack of precise details regarding the current square footage and the fact that the property needs building work to be completed before being habitable mean that it is difficult to assess the price’s true value. Considering similar developments and plots in the area and the potential return, the asking price appears reasonable, although this will depend on the actual development costs, and the subsequent market value of the new build plots, once the work is completed. Therefore, it is important to conduct due diligence in terms of planning compliance, building costs, marketing and sales strategies before purchasing. Overall, this is a property offering considerable potential, but prospective buyers should carefully weigh the risks and costs associated with redevelopment.

Therefore, we give this property 7 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Images