SOLD: £6.3m Upside: PCL Plot with Planning for 2 Luxury Houses
Updated: Mar 19, 2019
London Property Finder Ludgrove has sourced a development opportunity in Prime Central London with planning permission granted to create 2 luxury houses. Looking at recent comparable sales Ludgrove estimates the two properties will be valued at c£8m apiece post completion.
The asking price for the plot is £6m and given the stressed nature of the seller, Ludgrove would expect the Buyer to Exchange around c£5.3m. With Stamp Duty, Development Costs and Professional Fees, Ludgrove expects the Developer to be all-in for c£9.9m, leaving around £6.3m upside on the table at current market values.
When the c£6.3m of upside is added to the c£0.7m discount to the asking price, Ludgrove has sourced an opportunity offering c£7m in value to the Purchaser.
Summary details are outlined below. For further information please contact:
43 Berkeley Square
London W1J 5AP
Tel: +44 (0)207 889 2860
*Note: Ludgrove pays 20% commission to Introducers ...
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