Option for sale on land near Stansted Airport - Magnetic Property
Magnetic Property

I have planning approved with conditions for 3 x 4b detached houses on some land near Stansted Airport.

Please get in touch if you have any interest in purchasing this land.

 land reg EX798115 ,  postcode CM22 6LY , size .311 of an acre
https://publicaccess.uttlesford.gov.uk/online-applications/search.do is the planning portal 
Planning Decision Notice UTT/24/0172/FUL Land To The South Of The Street Takeley

  • Please contact me (Keith Griggs keith@redboxfinancial.com ) if you have any interest in purchasing this :

    We have two comparables: next door development £411 per square foot, and Silverdale, which is £740 per square foot.  My plot is 1,679 square foot, which gives a gross development value per house of £690k to £1.27m.  There are 3 houses, so x3 = £2.07m to £3.82m
  • Taking the land value as 35% or 40% of the GDV, then this gives a value of between £725k (35% x £2.07m) at the lower end, and £1.5m (40% x £3.82m) at the higher end.

Comparable 1

They have recently built 8 houses on next plot of land 1.072 acres ( EX947255  )  (2x3b, 4x4b , 2x5b) . These are viewable on Rightmove if you search for the same postcode. https://www.rightmove.co.uk/properties/145212530#/ shows a 4b house on sale for £650k size 1,581 sq feet which is £411 per square foot.

Comparable 2

  1. It is approximately three times the size of a nearby plot (Silverdale - EX966163 ). This is on .111 of an acre. Although .311 is slightly less than 3 x .111, if you look at the shape of my land it is wide at the front, and narrow at the back.   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.


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