Land with Planning to Build 20 Flats Within Edgware

Posted by Landforsale on 30/09/2017
Price £2,770,000
Postcode See on google map
Type of ad Agency Offer
Sq. Footage 12000 sq.ft.
This Land with planning is one of the great opportunities in North West London areas. The site benefits from full planning permission to build 20 apartments. The site is currently cleared apart from a small part of it that needs to be cleared which used to be a former shelter for the guards who used to watch the site at night when there was an existing warehouse on the site. The shelter was left un-demolished to be used as office for foreman and staff during construction in order to be demolished during the last days of the project being completed. Apart from that the site is totally cleared however there is still amount soil which needs to be removed from the land to make the preparations to start doing the foundation and piling for that matter.

The soil test has been done along with all other surveys and there is no contamination on this land and it should be straight forward build. Number of few builders who looked in to building this scheme came up with feasibility methodology and reckoned the build costs of between £140 per sq ft to £160 per square foot. Since the build costs has been established with few firms who confirmed that they could build for this price, the site has been valued based on the maximum build costs of £160 per sq foot in order to provide a return of about 28% return after costs.

Having said that, at this current present the majority of builders/developers will proceed with sites to build that will produce comfortably 20%. So financiers who look at higher return need to understand that they are competing against those who does projects for 20% return. But of course this will be dependant on as if the investor wants to do the project or not. The beauty of this project is that it comes with parking spaces also.

The site is ready for the investor who has fund ready. For more information on the same site and other similar sites at similar locations for the same price tags and budgets contact: 07761-194240

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