There was no Planning Permission granted to redevelop this site though the existing freeholder had carried out a feasibility study to redevelop the site into a possible 2 X 2 bed townhouses.
The final price? £700,000. It was a surprise for everybody involved, but obviously the bidders all saw value on this plot of freehold land. On the same street, a house divided into two one-bedroom flats and one four-bedroom home went for almost £2mil. Taken in this context, perhaps £700,000 wasn't too expensive after all.
References
http://www.auctionhouse.uk.net/surrey/search-results.aspx?lotid=37864
http://www.theguardian.com/money/2014/apr/30/six-london-garages-sell-for-700000-auction?
This comment has been removed by a blog administrator.
ReplyDelete