Bairstow Eves says ..

Property Oracle says ..

This property in Whyteleafe, Surrey, presents a unique investment opportunity. It is currently listed as a derelict double garage, but has planning permission in place to construct two semi-detached houses. This development potential significantly impacts the overall assessment.

The location is a positive aspect. Whyteleafe offers relatively convenient access to Upper Warlingham train station, improving connectivity. The proximity to schools such as Whyteleafe Primary School enhances the family-appeal of the surrounding area.

However, the current condition of the property is a key drawback. The images clearly depict a dilapidated garage. Any purchaser must consider extensive repair costs, potential delays, and the associated risks before commencing the redevelopment project. This needs to be factored into any investment analysis.

The land itself offers the main selling point. The planning permission to build two houses demonstrates the significant development potential. However, the actual size of the land needs to be analyzed in order to determine the cost effectiveness of the build. This would need to be compared with other sites in similar areas.

The price at £200,000 is in line with other land purchases in the area and offers a reasonable starting point for this type of project; however, the significant cost of demolishing and building two new houses needs to be taken into consideration. Therefore, the project is not a risk-free investment.

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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