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Rock Road, Stamford

East Midlands

£350,000
Listed on 10/03/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a promising development opportunity in Stamford, Lincolnshire, with outline planning permission already secured. Strategically located within walking distance of an array of local shops, pubs, restaurants, and Stamford Meadows, the site offers both convenience and appeal for future residents or tenants. Currently occupying the site are several single-storey structures used for storage, a workshop, an office, and kitchen facilities. These buildings are constructed from concrete blocks with a sheeted roofing style. An asbestos report is available upon request for interested parties. The outline planning permission allows for the construction of two three-bedroom residential units, making this an attractive proposition for investors looking to capitalize on the area's growing demand for housing. The permissions were approved by South Kesteven District Council on November 6th, 2023 (REF: S23/1392), providing a solid foundation for any development plans moving forward. Utilities are accessible at the site, including mains water, electricity, and sewerage connections. A gas supply is believed to be available nearby; however, potential buyers should verify details regarding connection costs to assess overall project feasibility. Additionally, ultrafast full-fibre broadband is confirmed as available in the area. The property benefits from easy access via Rock Road and sits outside the Stamford Conservation Area with no restrictions from Ancient Monument Designation. This enhances its development potential while ensuring adherence to local regulations. As an investment opportunity in a thriving town known for its historic charm and robust community amenities, this property warrants consideration from developers and investors alike looking to make their mark in Stamford’s evolving landscape. The land is offered freehold with vacant possession upon completion; interested parties should arrange viewings by appointment with Richardson Surveyors to explore this potential further.

Investment Analysis

(PE9 area)
Area Average
£347/sq ft
Avg Rent (weekly)
£275
Avg Yield
3.4%

Renovation Potential

Est. Renovation Cost
£35,000 - £87,500
10-25% of property value
Monthly Sales
33
Average per month
Market Turnover
23%
Properties sold annually

Local Market Trend (PE9)

Area prices are falling by +4.1% over the last 12 months
3 year growth: -1.0%
5 year growth: 12.5%
Investment Disclaimer: Analysis based on PE9 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Rock Road, Stamford
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