Option for sale on land near Stansted Airport - Magnetic Property

Update. I have decided to get outline planning for 3 detached houses first before I sell the option on.

Please get in touch if you have any interest in purchasing the option for the land with this planning approved.

Land near Bishops Stortford and Stansted Airport

The information in this page is also available as a Google Drive doc and downloadable pdf

  • I have an option to buy some land that I believe will get planning for 3 x 4b houses with net profit of £836k and ROI of between 59% and 91%. That figure is after deducting all costs including 53k contingency and 53k for finance costs.
  • There is a clause that we can start building work before exercising the option and buying the land.
  • This option is assignable
  • Please contact me (Keith Griggs) if you have any interest in this:
    https://www.facebook.com/keith.griggs
    https://www.linkedin.com/in/keithgriggs/ 


  1. I have the option to buy some land ( land reg EX798115 ,  postcode CM22 6LY , size .311 of an acre ) . Date of option agreement is 23rd Nov 2021
  2. Purchase price £500k
  3. Period = 18 months, with option to extend a further 6 months. So with extension up until 23rd Nov 2023
  4. Clause that we can start building works before completion. So if you are fast, you can possibly build a house, sell it and pay for the land at that point.
  5. There is no planning permission on this plot, but planning permission was granted to build 8 houses on next plot of land 1.072 acres ( EX947255  ) which has just got planning permission on appeal for 8 units (2x3b, 4x4b , 2x5b) ., and there are many other nearby plots built up,
  6. It is approximately three times the size of a nearby plot (Silverdale - EX966163 ). This is on .111 of an acre. Permission was granted to build a 4 b house, size 1,016 square feet. It sold for £651,700 in 18/8/17 which is £641 per sq foot. According to Nationwide, ( https://www.nationwide.co.uk/house-price-index/ ) prices have gone up 15.33% since then, so that would be £751,574 in today’s money which is £740 per sq foot.
  7. Although .311 is slightly less than 3 x .111, if you look at the shape of the land I have an option for, it is wide at the front, and narrow at the back.  So if you just look at the front bit where the house is, this is MORE than 3 times the size of Silverdale where they built a 4b house. So I cannot see how they could refuse planning permission.
  8. If we could get permission to build three properties like Silverdale (eg a mini terrace), that would give a gross development value of 3 x £751,574 = £2,254,722  . This is actually very likely it will be granted. £751,574 is the value per property in Dec 2021, so it is already a lot more than that.

Estimated profit according to (after deducting professional fees, finance fees and contingency) as at 11th Dec 2021 using a GDV of £2,254,722 is £835,722 . This gives an ROI of 59% if you pay for the land before you sell the properties:

If you buy the land at the end when you sell the properties, the profit is the same, but the cashflow improves a lot, therefore the ROI increases to 91%

Estimated profit

Profit according to https://propertydata.co.uk/development-calculator as at 11th Dec 2021 using a GDV of £2,254,722 is £835,722 or 58.9% of the total cost.


Silverdale ( EX966163 )

Very close by is a 4b building on title EX966163 . This is on .111 of an acre. Size 1,016 square feet. It sold for £651,700 in 18/8/17 which is £641 per sq foot.According to Nationwide, prices have gone up 15.33% since then, so that would be £751,574 in today’s money which is £740 per sq foot.

https://publicaccess.uttlesford.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=NUIUKNQNGJY00 is the planning application approved on 27/10/15

Next door plot (EX 947255 )

1.072 acres with planning for 2x3b + 4x4b + 2x5b = 8 houses

https://publicaccess.uttlesford.gov.uk/online-applications/applicationDetails.do?activeTab=summary&keyVal=PCB9QIQNL8Q00

https://publicaccess.uttlesford.gov.uk/online-applications/applicationDetails.do?activeTab=summary&keyVal=QKERHSQN0H200

Below are the drawings from the planning portal that got approved in the next door plot. There are 119 documents, it was originally refused, and allowed on appeal. They also had to do some work to prove there was no archaeological interest.

Above is for plots 4 & 5 = 3b house

Above is for plots 1&8 = 5b house

Above is for plots 2,3,6,7 = 4b house