As is, the current property and land is valued at £485k and this is available to you for 17.5% BMV. Buy for £400k....
Initial Quote for New Builds is circa £200k (Subject to Confirmation) making Total Input required of £625k (approx). Re-Sale price of New Builds is £950k - £1m
so approx. 50% ROI on Completion.
These are the comments from the Vendor:
"This is a development opportunity so need the right developer to buy this as there is a £350,000 profit in this development.The two new builds of a 6 bedroom detached house and a 3-4 bedroom detached bungalow have a estimated value of £950,000 to £1.000000, we were estimated £200,000 to build both new properties and we need to achieve offers in the region of £425,000 for the whole site, (He'll take £400k... Steve) so an outlay of £625,000 with a minimum return of £950,000 so a profit margin of £325,000. I am confident we will have a sale with the right investor. To Date we have only had people that need to borrow the money to do this but we need a cash investor to make this sale happen, also 2 other plus points
(1) we can up grade the rear property to a 4 bed room as we have had a pre planing approval for this.
(2) next door now wants to sell half off his land with Plan to build a 3 bedroom bungalow, but without our approved access he cannot get planing approval, so 2 options.... buy his garden for £20,000 or £30,000 (Sounds Like a Plan to Me... Steve) and build a 3rd property or charge him £30,000 to £40,000 for access so recovering some of the initial investment, we were advised about this from the planners at the local council."
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Our Fees on this are 2% of the initial purchase only, On Completion.
More Photo's available to Genuine Enquirers.
Initial enquiries please by reply email or:
