Strettons Auctions says ..

Property Oracle says ..

This property listing is for a plot of land at 1a Mornington Grove, Bow, London, E3 4NS. The land comes with planning permission to build two houses, a considerable advantage in the competitive London property market. The plans show a modern design that integrates well with the neighbouring buildings, featuring green roofs and a considered layout. While the exact size of the plot isn’t specified in square footage, the provided diagram shows a substantial area. The proximity to Bow Road station offers convenient access to public transportation, and its close proximity to several well-regarded schools (including an Outstanding-rated school) boosts its appeal to families. However, the current state of the land is undeveloped, and the ultimate success will depend on the completion of the proposed development according to plan and within budget. It is important to note that the success of any investment in this property will also rely on the successful management of the risks associated with new construction in London, including securing building contracts, final build costs, and potential market fluctuations between now and the completion of the construction. The location is a reasonable strength, but the current ‘as is’ condition is very low and the projected value relies on a successful and on time build, therefore, the list price seems reasonable but not exceptional given the considerable risk involved in completing the build. Further investigation into the development and potential costs would be essential before making an investment decision. Due diligence must also take into consideration the wider property market in Bow, and whether the planned development aligns with future demand.

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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