Benson & Partners says ..

Property Oracle says ..

This listing presents a development opportunity on Shirley Way in Croydon. The property is a plot of land measuring approximately 127.2 square meters. The current state of the existing structure is unclear, with images suggesting that the structure will need renovations or rebuilding. The selling price of £80,000 is significantly lower than surrounding properties, which are primarily semi-detached family homes. However, this reflects the fact that the plot requires planning permission for development and buyers should bear in mind this significant risk factor and the time and costs associated with obtaining it.

The location, while within Greater London, is slightly less central than some areas, affecting property values. However, the area is served by several train stations offering links to central London, and has several schools within reasonable proximity, some of which hold a ‘Good’ Ofsted rating. While it seems to be a relatively quiet residential area based on the images, more information regarding the location and available local amenities would be needed for a comprehensive analysis.

The plot size is modest, making it suitable for a smaller scale residential project. The lack of detailed information on the existing structure, the condition, and the potential scope of development makes it difficult to assess the property’s true potential and potential returns. Therefore, thorough due diligence, including acquiring any necessary planning permissions, is crucial before considering any purchase.

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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