The asking price of £155,000 seems reasonable considering the current market conditions for land with planning permission in the area and the potential value of the completed bungalow. Comparing it with other land plots in the vicinity, the price appears competitive although a precise evaluation is hampered by the lack of square footage data for both the land and the planned structure. The high cost of new construction also implies development risk and must be considered.

Based on the provided photos, the existing structures appear to be in fair condition. However, the property is essentially land for development, so the ‘condition’ score relates more to the state of the existing outbuildings and the potential need for significant site preparation and groundwork before construction of the new bungalow commences. These aspects influence the relatively lower score.

The property benefits from being located in Penn, Wolverhampton, which is known for its good schools and relatively convenient access to transportation links to Wolverhampton city centre and beyond. The proximity to highly-rated schools like Penn Hall School significantly boosts its appeal to families. However, the specific street’s location within Penn might impact walkability to shops and other amenities, which requires further investigation.

The land size, though not explicitly stated in square footage, seems substantial enough for a detached bungalow development, and the aerial shots show a relatively sizable plot. This is a positive attribute that offsets the absence of a pre-existing garden in its current state. The presence of existing outbuildings also adds to the land’s value.