Auction House London says ..

Property Oracle says ..

This property listing is for a plot of land located to the Northwest of Princes Avenue in Chatham, Kent. The land, measuring approximately 1.8 acres (7,284 sq m), is being sold via public auction. Aerial imagery shows the land to be overgrown and undeveloped, part of a larger site, and forming a triangular shape. The sale is an auction, and the listing encourages buyers to review the legal pack on the estate agent’s website for more details. The location benefits from proximity to Chatham train station and a few local schools which is a plus, however, the location is in a relatively small residential area in Princes Park and the immediate vicinity is not very accessible and will lack significant amenities.

The low list price of £1,000 is noteworthy, but this must be considered in light of several crucial factors: the condition of the land (overgrown and requiring significant work), the need for any potential planning permission and the inherent risks associated with buying at auction. Buyers should exercise caution, undertake detailed due diligence, including surveying and investigating planning potential, and be prepared for considerable expense to make the land suitable for any intended purpose. The lack of information within the listing suggests that a buyer needs to invest significant time before developing any plans. Therefore, a detailed review of the legal pack is essential to understand any constraints or issues. The lack of existing utilities on the land is a major factor here.

Therefore, we give this property 4 / 10. Disclamer: This is our opition and does constitute a recommendation or financial advice. Do your own research.

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