V&C ESTATES says ..

Property Oracle says ..

This property listing is for a plot of land at Oak Bury, Ipswich Road, Colchester, Essex, listed at £900,000. The site currently contains the remains of a demolished structure and other outbuildings. Aerial photographs reveal extensive grounds, suitable for development. Planning permission exists for a substantial dwelling (4,500 sq ft), and further planning has been submitted for a second dwelling. The property is located near to several ‘Good’ Ofsted-rated primary schools and is conveniently situated near to the A12. However, the images depict the property in a state of disrepair, requiring significant demolition and construction work, which introduces substantial risk and cost to a potential buyer. Nearby property prices, whilst not consistently comparable given the land size and nature of the current development, provide a benchmark for established housing in the area. The lack of specific details regarding the planning permission’s current status and other necessary infrastructural needs is a point of consideration for the overall value of the property. The buyer should budget for substantial site clearance and build costs. The significant land area and potential for dual development offer high reward, but the investment required for complete redevelopment is considerable. The risk involved reduces the value proposition of the immediate purchase price.

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

Images