happily renting Posted August 1, 2010 Share Posted August 1, 2010 (edited) http://www.rightmove.co.uk/property-for-sale/property-25424452.html House is about 1/2 mile from the road. Only access is via a grass track, which I trekked down to have a look. No mains service. Roof appears to have been charmingly chewed; house is a wreck. The kind of property that once upon a time would have been sold for a reasonable price given all the obstacles to actually living there. £500k. Basically you're buying a plot of land with difficult access - a builder's delight. No longer under offer and newly available. Don't miss out! edited to add that there were a number of rusted out clunkers on the property, possibly airlifted in to add character. Edited August 1, 2010 by happily renting Quote Link to comment Share on other sites More sharing options...
pepsi Posted August 1, 2010 Share Posted August 1, 2010 I liked this bit... Addendum Please note that the vendor is a relative of a KMJ Property staff member. Quote Link to comment Share on other sites More sharing options...
Mal Volio Posted August 1, 2010 Share Posted August 1, 2010 Plenty of such round here: 500k for a house to demolish, 500 k building costs and you end up with a house worth 750... Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted August 1, 2010 Share Posted August 1, 2010 The illusion of countryside serenity would be quickly undone by the 6:60am Brighton-London commuter service, passing within yards of your head it appears. Quote Link to comment Share on other sites More sharing options...
happily renting Posted August 1, 2010 Author Share Posted August 1, 2010 Actually the Hastings line, but yeah, it's pretty close. To amuse yourself you can go out and cause points failures. There are lots of overpriced houses around here; this one just struck me as an egregious example, given the location. Good for hermits, misanthropes, and mad scientists looking to set up a laboratory in solitude to breath life into frankenstein sheep. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted August 1, 2010 Share Posted August 1, 2010 Plenty of such round here: 500k for a house to demolish, 500 k building costs and you end up with a house worth 750... Nothing suggest the house is structurally unsound, and even if it was, you could build a nice replacement property on the plot for under £250k, as long as it's not listed. That said, it's too close to the railway and to far outside the M25. Quote Link to comment Share on other sites More sharing options...
Mal Volio Posted August 1, 2010 Share Posted August 1, 2010 Nothing suggest the house is structurally unsound, and even if it was, you could build a nice replacement property on the plot for under £250k, as long as it's not listed. That said, it's too close to the railway and to far outside the M25. you could, but most people put a 4000 sq ft house onto a plot luke that, and unless they tightly project-manage it themselves rarher than using a builder for the whole thing it comes out at about 500 k not saying it's impossible, just that that's the scenario I see Quote Link to comment Share on other sites More sharing options...
LittleSteroid Posted August 1, 2010 Share Posted August 1, 2010 (edited) "Development/investment potential" ? They mean B&B ? Edited August 1, 2010 by LittleSteroid Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 1, 2010 Share Posted August 1, 2010 whats a "Will Suit"...is it an MIB special? Quote Link to comment Share on other sites More sharing options...
Wayo Posted August 2, 2010 Share Posted August 2, 2010 http://www.rightmove.co.uk/property-for-sale/property-25424452.html House is about 1/2 mile from the road. Only access is via a grass track, which I trekked down to have a look. Presumably it is not on Street View? Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted August 3, 2010 Share Posted August 3, 2010 (edited) Nothing suggest the house is structurally unsound, and even if it was, you could build a nice replacement property on the plot for under £250k, as long as it's not listed. That said, it's too close to the railway and to far outside the M25. The overall location is interesting and it does make me wonder what a realistic price is. It sits between: Tunbridge Wells - quite expensive Hastings - about as cheap as you can get in the South East Gut feeling is that is probably worth about £380-420k. In TW in good condition it might be worth £800k, but in Hastings it would be about £500k in good condition. But in this case a lot of work seems to be needed. I'd say £380k for the plot and £200k to build would give you something worth about £650k, so not a handsome profit for all the work and risk. If you tried to building something larger, say for a £400k budget, I think you might run the risk of not selling as you'd need to price it at £900k to make a profit. I can't see that area holding that sort of price. Edited August 3, 2010 by Mikhail Liebenstein Quote Link to comment Share on other sites More sharing options...
kingsgate Posted August 3, 2010 Share Posted August 3, 2010 A lot depends on how much of a state the house is actually in. If it could be refurbed for £200K, it would make sense - its a big house in a rural location. Does it have much land around it? Quote Link to comment Share on other sites More sharing options...
Mal Volio Posted August 3, 2010 Share Posted August 3, 2010 If you tried to building something larger, say for a £400k budget, I think you might run the risk of not selling as you'd need to price it at £900k to make a profit. I can't see that area holding that sort of price. Yes, this is the mistake made round here. There are several nice houses that are refurbs/rebuilds, but people paid over the odds for the original house n 2007 and have developed it to a 900k house. Which there's almost no demand for. Quote Link to comment Share on other sites More sharing options...
Mrs Palin Posted August 3, 2010 Share Posted August 3, 2010 The SE is full of bonkers carp like this - a further example here ... nearly a quarter of a million for a sh!te farm shed in a renowned flood area and you are not allowed to live in it! My link Quote Link to comment Share on other sites More sharing options...
happily renting Posted August 4, 2010 Author Share Posted August 4, 2010 Presumably it is not on Street View? Satellite view only for this one, unless Google have started sending out Range Rovers. I may not have made it clear just how bad access is. Whoever buys this will have to drive over what are basically fields to get to their front door - if they don't get stuck in the mud when it rains. Good luck getting deliveries of any sort, never mind something so prosaic as the mail. I have no idea what building a very long driveway costs, but that's going to have to be the first order of business. The overall location is interesting and it does make me wonder what a realistic price is. This is bubble money for debris in the shape of a house on a modest piece of land with unremarkable views and Southeastern trains as neighbours. The SE is full of bonkers carp like this - a further example here ... nearly a quarter of a million for a sh!te farm shed in a renowned flood area and you are not allowed to live in it! My link We are advised by the vendor that the property achieves approximately £600 per week in high season and £350 in low season. High season must be when the convoy of motorcyclists heads down the nearby A21 on their annual migration to Hastings. Quote Link to comment Share on other sites More sharing options...
happily renting Posted September 3, 2011 Author Share Posted September 3, 2011 http://www.rightmove.co.uk/property-for-sale/property-34988141.html This has come down a bit, and lost a bedroom - maybe it fell off. Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted September 3, 2011 Share Posted September 3, 2011 (edited) http://www.rightmove.co.uk/property-for-sale/property-34988141.html This has come down a bit, and lost a bedroom - maybe it fell off. Nice location though. I saw a 12 bedroom house in Poland with 30 acres back in May all for £220000. Lakes on 3 sides so easy to defend. I was thinking about buying and selling timeshares to HPC - TFH'ers Edited September 3, 2011 by Kurt Barlow Quote Link to comment Share on other sites More sharing options...
tim123 Posted September 3, 2011 Share Posted September 3, 2011 (edited) Plenty of such round here: 500k for a house to demolish, 500 k building costs and you end up with a house worth 750... Except that a fully restored house on the site quoted seem to be worth circa 2 and half mil. If round your way the end price is only 750K then the land wouldn't be selling for 500K, would it? tim Edited September 3, 2011 by tim123 Quote Link to comment Share on other sites More sharing options...
tim123 Posted September 3, 2011 Share Posted September 3, 2011 (edited) The overall location is interesting and it does make me wonder what a realistic price is. It sits between: Tunbridge Wells - quite expensive Hastings - about as cheap as you can get in the South East Gut feeling is that is probably worth about £380-420k. In TW in good condition it might be worth £800k, but in Hastings it would be about £500k in good condition. But in this case a lot of work seems to be needed. I'd say £380k for the plot and £200k to build would give you something worth about £650k, so not a handsome profit for all the work and risk. If you tried to building something larger, say for a £400k budget, I think you might run the risk of not selling as you'd need to price it at £900k to make a profit. I can't see that area holding that sort of price. I think you have seriously underestimated the potential of a site this big in open land try this one: http://www.rightmove.co.uk/property-for-sale/property-18628170.html Edited September 3, 2011 by tim123 Quote Link to comment Share on other sites More sharing options...
happily renting Posted September 3, 2011 Author Share Posted September 3, 2011 I think you have seriously underestimated the potential of a site this big in open land try this one: http://www.rightmove.co.uk/property-for-sale/property-18628170.html I'm assuming you don't have to drive across a couple of fields to get to that one... Maybe I'm living in lala land, but given my descriptions upthread I just can't see that great a value here, and I know this area pretty well. Then again maybe that explains why I'm not a property millionaire. Quote Link to comment Share on other sites More sharing options...
happily renting Posted September 29, 2011 Author Share Posted September 29, 2011 Sold at auction for 280 Quote Link to comment Share on other sites More sharing options...
200p Posted September 29, 2011 Share Posted September 29, 2011 Create two semi-detached homes, sell each for £350K? Quote Link to comment Share on other sites More sharing options...
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