Purchase at Auction
Land on the west side of 221 New Haw Road
Addlestone, Surrey, KT15 2DP
A site of approximately 4,980 sq ft with planning permission granted for four flats (3 x two bedroom, 1 x one bedroom) with associated parking, well located for the Shopping and Recreational amenities of Addlestone and West Byfleet
£200,000+
Key Features
- To be offered on Tuesday 27 January
- A site of approximately 4,980 sq ft
- Planning permission granted for four flat (3 x two bedroom and 1 x bedroom)
- Vacant possession
- Conveniently located for the amenities of Addlestone and West Byfleet
Acquisition Cost
| Purchase Price | £250,000 |
| Stamp Duty | £12,500 |
| Agent's Fee (1.5%+vat ) | £5,700 |
| Legal Fee | £4,500 |
| Misc |
£3,000 |
| Finance Cost for 12 months |
£24,375 |
| Total Acquisition Cost | £300,075 |
Cash Investment Required
| Cash Deposit 50% | £125,000 |
| Associated Acquition costs | £25,700 |
| Interest if Retained | £24,375 |
| Mobilization fund | £20,000 |
| Professionals / B.R / Structural / QS / MS etc. | £12,500.00 |
| Total | £207,575 |
Profit
| Profit (Estimated) | |
| GDV | £1,500,000 |
| Development cost | £927,950 |
| Acquisition Cost | £300,075 |
| Total Cost | £1,228,025 |
| Gross profit | £271,975 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £207,575 |
| Profit Earned | £271,975 |
| Total ROI | 131% |
| Profit for JV Partner (50% share) | £135,988 |
GDV Appraisal
| Units Type (Flats) | Units |
|
Four flats (3 x two bedroom, 1 x one bedroom) |
04 |
| Total Units | 04 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | Proposed Residential NSA m2 | Value | |
| 04 | Ground & First |
Four flats |
250 | £1,500,000 | |
| Total: | Sale@ £6,000/m2 | 250 | £1,500,000 | ||
DEVELOPMENT Loan & Budget
| Item | Description | Amount |
| Legals | 5% of Construction Cost | £34,250 |
| Professionals / Architect | 2% of Construction Cost | £13,700 |
| Construction / Refurb | Collective Build cost | £685,000 |
| Insurances | For building & Construction | £20,550 |
| Section106 / CIL | Nil | £23,750 |
| Inteste rolled up costs |
15% | £113,025 |
| Contingency | 5% of Construction Cost | £37,675 |
| Total | £927,950 |
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.