Martin Maslin says ..

Property Oracle says ..

This listing presents an opportunity to build a home on a large plot in Humberston, a location with highly-rated schools and proximity to the seaside resort of Cleethorpes. Outline planning permission simplifies the development process. The land itself is undeveloped and overgrown, necessitating significant site preparation before construction. This fact, along with the lack of a house, means the final cost and actual value of the plot will depend on this preperation. The photographs show an undeveloped plot of land with some overgrown vegetation and areas of bare earth. There’s evidence of previous activity and some debris. The provided planning documents give some insight into a planned housing development but it is unknown if this is the full extent of development or if it is solely based on this plot. A more detailed site survey and cost analysis for site preparation would be needed before a potential buyer could establish the true worth and value of the offering. The area shows good proximity to amenities and transport, supporting a new build house, however, this is not a complete and ready plot. The absence of specific details regarding plot size and the cost of development makes it difficult to give a final and complete verdict on the offering. The current £550,000 price is high and is only moderately reasonable, due to the current undeveloped state of the plot. Further investigation is essential to determine overall value.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Images