Land for Sale in London W11, London
Residential Development Land for Sale in London W11
Guide Price: £1,130,000
Size: current square footage is 800 sqft.
Land Type: Residential Development
Planning Permission: Outline Planning Permission
Land Designation: PlanningUse
Seller Last Active: Within the last 49 months
Summary: Off Market Residential Development and Refurbishment Opportunity – London W11 Summary • Situated in London W11 the current square footage is 800 sqft. • It has planning permission for a sub basement which will add another 800 sqft, and an extension of approx another 200 sqft. Therefore a total of 1,800 sqft. • Presently a 2 bed, 2 bath but with the additional space could be a 3/4 bed with 2/3 bathrooms. The cost for the basement and extension is budgeted at £300k and £100k refurbishment of the existing lower ground floor. • Properties can go for anything between £1,700 - £2,000 a sqft in this area. We have done our usual due diligence as well as speaking to 4 agents. Taking into account that it is a lower ground floor the range we got was £1,400 sqft - £1,800. We have actually based a £2.43m resale price on achieving £1,350 a sqft, so more than realistic and all this is based on the market as it is post Brexit. • If bridging it for 9 months it returns £626k on cash invested, therefore pretty much 100% return on cash. • The vendor wants £1.13m to clear off the finance.
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These particulars have been produced in good faith but total accuracy cannot be guaranteed. Sizes are approximate. Purchasers should verify availability and any detail of importance prior to viewing and purchase. These particulars are not an offer or contract.