John D Wood & Co. New Homes says ..

Property Oracle says ..

This property is a freehold plot of land in Merton Park, London, with planning permission for a new single-storey dwelling. The site is significant, covering 374 sqm (4025 sqft). Currently, only the existing garage and surrounding fencing are visible, suggesting the land is clear for development. This presents an opportunity for buyers looking to build a property tailored to their preferences. The location is advantageous, near Merton Park Primary School (Ofsted rated Outstanding), and South Merton train station is within easy walking distance. While the existing structures appear in a condition requiring considerable work or demolition, the plot's size and the area's desirability are strong selling points. The listed price needs to be considered in the context of the required development. Nearby property prices vary greatly, with some significantly higher, reflecting the high desirability of Merton Park. Given the potential for a new home in this location, the asking price is not entirely unreasonable but does not represent outstanding value for money, especially when comparing the price to nearby houses. Buyers must factor in the significant costs of constructing a new home. The property is a good opportunity for those with the expertise and capital to embark on the project. Note that the lack of specifics such as square footage for the planned build or average price per sqft in the area hinders a truly precise valuation. Therefore, we give this property 5 / 10. *Disclamer: This is our opition and does constitute a recommendation or financial advice. Do your own research.*

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