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Resi Development Opportunity, Andover, Andover, SP10 - Image 1

Resi Development Opportunity, Andover, Andover, SP10

South West

£1,250,000
Listed on 01/02/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a compelling investment opportunity in the heart of Andover, with the potential to develop over 31 residential units, subject to planning approval. The existing commercial structures, which currently have an EPC rating of D/E, offer a solid foundation for renovation or redevelopment. Situated near the bustling town center on Osborne Road, this location is well-connected and surrounded by a variety of amenities including major supermarkets, recreational facilities, and scenic riverside walks. The proximity to schools with outstanding Ofsted ratings adds further appeal for family living. Additionally, with excellent transport links to London and beyond via rail and road networks, this site not only promises significant growth potential but also positions itself as an attractive option for future residents.

Investment Analysis

(SP10 area)
Area Average
£322/sq ft
Avg Rent (weekly)
£280
Avg Yield
5.0%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£600,000 - £900,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
34
Average per month
Market Turnover
28%
Properties sold annually

Local Market Trend (SP10)

Area prices are stable by +0.9% over the last 12 months
3 year growth: 1.3%
5 year growth: 16.0%
Investment Disclaimer: Analysis based on SP10 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Resi Development Opportunity, Andover, Andover, SP10
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Mortgage Calculator

£
£
£
%
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£4,579
Based on a loan of £937,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Next Steps

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE