Property Description
Land adjacent to 69 Woodside
Alwyne Road, Wimbledon, London, SW19 7AE
A well-located rectangular site of approximately 1,294 sq ft with planning permission granted for three new build flats (1 x two-bedroom flat, 2 x one-bedroom split-level flats), convenient for Wimbledon Town Center, excellent transport links, fashionable Wimbledon Village and the Common -
Guide price: £460,000 - £550,000 (Vacant - Freehold)
Key Features:
- A well-located rectangular site of approximately 1,294 sq ft
- Planning permission granted for three new build flats (1 x two bedroom flat, 2 x one bedroom split level flats)
- Potential to alter proposed plans to create 3 x two bedrooms
- Direct vehicular access onto Alwyne Road
- Conveniently located near Wimbledon Town Center, excellent transport links, fashionable Wimbledon Village, and the Common
- Frontage and vehicular access to Alwyne Road
Proposed Accommodation
| Flat 1 | 70 sq m, 753 sq ft | Basement - Bedroom with en-suite, Office, Rear Patio | Ground Floor - Open Plan Kitchen/Living/Dining, WC |
| Flat 2 | 70 sq m, 753 sq ft | Basement - Bedroom with en-suite, Office, Rear Patio | Ground Floor - Open Plan Kitchen/Living/Dining, WC |
| Flat 3 | 69 sq m, 742 sq ft | First Floor - Open Plan Kitchen/Living/Dining, Two Bedrooms, Bathroom/WC, Two Balconies | |
Acquisition Cost
| Purchase Price | £500,000 |
| Stamp Duty | £40,000 |
| Agent's Fee (1.5%+vat ) | £9,000 |
| Legal & Misc | £5,000 |
| Total Acquisition Cost | £554,000 |
Cash Investment Required
| 45% Deposit at Purchase | £225,000 |
| Stamp Duty | £40,000 |
| Retained Interest for 18months @ 20% for £275k | £55,000 |
| Agent & Legal | £14,000 |
| Professionals / B.R / Structural / QS / MS, etc. | £30,000 |
| Mobilization Fund | £100,000 |
| Misc | £30,000 |
| Total | £494,000 |
Profit
| Profit (Estimated) | ||
| GDV (Sale Price) | £2,100,000 | |
| Interest on Purchase 18m | £55,000 | |
| Sales Agent + Legal (2%) | £42,000 | |
| Acquisition costs | £554,000 | |
| Development Costs | £700,000 | |
| Total Costs: | £1,351,000 | |
| Profit | £749,000 | |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £494,000 |
| Profit Earned | £749,000 |
| Total ROI | 152.0% |
| Profit for JV Partner (50% share) | £375,500 |
| ROI for JV Partner | 76.0% |
GDV Appraisal
| Units Type (Flats) | Number of Units |
| Two Beds (4 person) | 1 |
| Two Beds (4 person) | 1 |
| Two Beds (4 person) | 1 |
| Total Units | 3 |
| Gross Development Value (Collective) | |||||
| Units | Level | Description | GIA m2 | NIA m2 | Value |
| 1 | Basement + Ground | 2 Bedroom (4 Person) | 70 | 70 | £700,000 |
| 1 | Basement + Ground | 2 Bedroom (4 Person) | 70 | 70 | £700,000 |
| 1 | First Floor | 2 Bedroom (4 Person) | 69 | 69 | £700,000 |
| Total: | Sale@£10,000/m2 | 209 | 209 | £2,100,000 | |
| Gross Rental Value (Collective) | ||||
| Units | Level | Description | Sqm | Value (Rent) |
| 1 | Basement + Ground | 2 Bedroom (4 Person) | 70 | £62,400 |
| 1 | Basement + Ground | 2 Bedroom (4 Person) | 70 | £62,400 |
| 1 | First Floor | 2 Bedroom (4 Person) | 69 | £62,400 |
| Total: | @ 8.91% Yield |
£187,200 | ||
DEVELOPMENT Costs (Estimates)
| Item | Description | Amount £ |
| Legals | £10,000 | |
| Professionals / Architect | 3% of Construction Cost | £15,500 |
| Construction / Refurb | 210 m2 @ £2,500 | £525,000 |
| Insurances | 0.5% of Construction costs | £3,500 |
| Finance Cost | 20% @ 1% per month for £600k for 18 months | £120,000 |
| Section106 / CIL | To be verified? | £0 |
| Contingency | 5% of Construction Cost | £26,000 |
| Total | £700,000 |
full planning
Existing & Proposed Plans
| Site Location Plan | Proposed SIte Layout |
| Existing Site Layout | Proposed Basement & Ground Floor |
| Existing Street Scene | Proposed First Floor & Roof |
Existing & Proposed Elevations
| Existing Site Sections | Proposed Front Elevation |
| Proposed Elevations | Proposed Elevations |
| Proposed 3D Renders |
|
SURVEYS & REPORTS
Disclaimer
Valuations & Appraisals by Sleek are strictly estimates only and you should use them on that basis. The valuation Model analyses prices for equivalent properties sold or sold in the area. These properties may differ in ways that we do not or cannot consider. Valuations are subjective and based on market forces, which may change. Valuations must not be used for property sale, purchase, mortgage or related purposes. You should seek a professional valuation from a qualified surveyor before deciding whether to buy or sell a property. We shall not be liable for any losses you or anyone else suffer due to relying on the valuations. This includes not being liable for any loss of property, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss.