Jackson Green & Preston says ..

Property Oracle says ..

This property is a development opportunity, not a ready-to-move-in house. It consists of land on Macaulay Street in Grimsby, Lincolnshire, with approved planning permission (DM/0205/22/FUL) for the construction of 23 dwellings. The site is currently cleared, as shown in photographs, and is awaiting development. The location is reasonably convenient, with proximity to a primary school, though the school’s Ofsted rating is ‘Requires Improvement’. Several nearby streets offer an insight into property prices in the immediate vicinity, ranging significantly in value. The average price of homes on nearby Cromwell Road are considerably cheaper than the asking price for this development plot, suggesting the value is tied to the approved plans and the eventual realisation of multiple units being developed, sold, and inhabited. Transport links to Grimsby Town and other areas are within reasonable distance. The lack of existing buildings means there is no assessment of condition possible; the condition score will fully depend on the quality of the developed project. The land is substantial due to the planned scale of the development. The price, at £460,000, will depend on factors like build costs, the final sale prices for the individual houses, and market conditions upon completion. More investigation is required into the development to ensure the development potential is realised at the list 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. *

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