Purchase at Auction
Land adjacent to 9 Meath Gardens Horley, Surrey, RH6 8FW
Key Features
- To be offered on Tuesday 9 December
- Freehold site
- Approximately 1308 sq ft
- Well located for Horley town centre
- A freehold site of approximately 1308 sq ft
- Future potential subject to requisite consents.
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Acquisition Cost
| Purchase Price | £50,000 |
| Stamp Duty | £2,500 |
| Agent's Fee (1.5%+vat ) | £2,100 |
| Legal Fee | £900 |
| Misc |
£600 |
| Finance Cost for 12 months |
£0 |
| Total Acquisition Cost | £56,100 |
Cash Investment Required
| Cash Deposit 100% | £50,000 |
| Associated Acquition costs | £6,100 |
| Interest if Retained | £0 |
| Mobilization fund | £10,000 |
| Professionals / B.R / Structural / QS / MS etc. | £30,000.00 |
| Total | £96,100 |
Profit
| Profit (Estimated) | |
| GDV | £720,000 |
| Development cost | £425,400 |
| Acquisition Cost | £56,100 |
| Total Cost | £481,500 |
| Gross profit | £238,500 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £96,100 |
| Profit Earned | £238,500 |
| Total ROI | 248.2% |
| Profit for JV Partner (50% share) | £119,250 |
GDV Appraisal
| Units Type (Flats) | Units |
|
A freehold site of approximately 1308 sq ft |
0 |
| Total Units | 0 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | Proposed Residential NSA m2 | Value | |
| 0 | Ground Floor |
A freehold site of approximately 1308 sq f |
120 | £720,000 | |
| Total: | Sale@ £6,000/m2 | 120 | £720,000 | ||
DEVELOPMENT Loan & Budget
| Item | Description | Amount |
| Legals | 5% of Construction Cost | £6,000 |
| Professionals / Architect | 2% of Construction Cost | £30,000 |
| Construction / Refurb | Collective Build cost | £300,000 |
| Insurances | For building & Construction | £9,000 |
| Section106 / CIL | Figure provided by developer | £11,400 |
| Inteste rolled up costs |
15% | £51,750 |
| Contingency | 5% of Construction Cost | £17,250 |
| Total | £425,400 |
SURVEYS & REPORTS
floor plans & elevations
LEASE & LEGAL PACK
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.