Bawnmore Road , Bt9 . 75% Drop ......

[getdoon_weebobby]

Haven't posted for a while so a belated happy new year.

http://www.propertynews.com/brochure.php?r=1&c=521&s=119320278&i=5&p=ECSECS22912&fp=1&sort=added

site with planning for 2 homes on bawnmore rd , bt9 on for 350k

back in 2008 these were asking £1.5 million per house fully built

now asking £750,000

http://www.gocestateagents.com/propDetails.aspx?ID=4732

based on site + ( £200k build costs ??? ) thats £375k a house or a 75% drop from the initial £1.5 million per house ......

[Smell the Fear]

Haven't posted for a while so a belated happy new year.

http://www.propertynews.com/brochure.php?r=1&c=521&s=119320278&i=5&p=ECSECS22912&fp=1&sort=added

site with planning for 2 homes on bawnmore rd , bt9 on for 350k

back in 2008 these were asking £1.5 million per house fully built

now asking £750,000

http://www.gocestateagents.com/propDetails.aspx?ID=4732

based on site + ( £200k build costs ??? ) thats £375k a house or a 75% drop from the initial £1.5 million per house ......

The plans state that these houses are 2800 sq ft each. The description indicates a high spec, so the build cost would be more like 300-350k per house.

So, half a million quid for a luxurious house, but the site is only 0.08 acre per house (about the same as an average semi-detached plot). Probably better value to buy one of the older houses around Malone on a generous 1/4 acre site for £400-£450k and spend £100k modernising it.