The listing price of £160,000 for a development opportunity, with potential resale value exceeding £500,000, suggests a degree of affordability considering the profit margin and the potential value. However, it’s important to note that risk and the actual cost of development are not factored in. The lack of concrete comparable property data makes a precise evaluation difficult.

The provided photos show a plot of land that is undeveloped and appears to require significant preparation before construction can commence. There is evidence of debris and uneven ground. The lack of existing structures means there is no existing property condition to assess, but the undeveloped land state necessitates a lower score.

The property benefits from a reasonably convenient location. Proximity to Kirkby-in-Ashfield railway station (2.42km) offers good transport links. Several schools are within a 2km radius, including Kirkby Woodhouse School (rated ‘Good’ by Ofsted). While the immediate area’s details are limited in the data, the presence of nearby amenities and transport links warrants a score above average.

The land is substantial enough for the proposed development of two chalet bungalows, as per the planning permission. This indicates a larger plot than many typical residential plots, justifying a score reflecting this. However, the existing condition of the land is not ideal. This compromises the rating somewhat.