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The Rookery, Galley Common, Nuneaton

West Midlands

£375,000
Listed on 18/03/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This unique property presents a compelling opportunity for development in a picturesque rural setting, characterized by expansive country views. Located to the west of Galley Common, it comes with outline planning consent for the construction of two residential properties, each up to 1,600 square feet. The site is particularly advantageous as it allows prospective buyers the flexibility to conceptualize their designs once detailed planning permission is sought. The anticipated structures are likely to be one-and-a-half-storey dormer bungalows, comfortably suited to the surrounding landscape. Given that there is potential for both plots to be sold together, this presents an appealing investment opportunity for developers looking to leverage the growing demand for housing in this desirable area. Galley Common is known for its community-oriented atmosphere and convenient amenities, featuring a selection of shops and a primary school that has received a "good" rating from Ofsted. Additionally, its strategic location offers easy access to Nuneaton, making it practical for commuters traveling to Coventry and Birmingham. The area benefits from high-speed rail services linking Nuneaton with major cities like London and Birmingham. The outline planning reference (039034), granted by Nuneaton and Bedworth Council on April 28, 2023, serves as a key asset in this property's potential. It’s essential for interested parties to review all conditions associated with the consent prior to making any offers; information can be accessed via the council's website or through the agent. Services such as mains water and electricity are reportedly connected at the site; however, prospective buyers should verify their adequacy and positioning. Furthermore, access involves a right of way, necessitating shared responsibility for maintenance by future owners. Overall, this property not only embodies charm but also signifies an attractive prospect for those keen on capitalizing on new development ventures in a serene yet accessible location.

Investment Analysis

(CV10 area)
Area Average
£245/sq ft
Avg Rent (weekly)
£221
Avg Yield
5.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£250,000 - £350,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
51
Average per month
Market Turnover
20%
Properties sold annually

Local Market Trend (CV10)

Area prices are rising by +4.5% over the last 12 months
3 year growth: 2.1%
5 year growth: 21.7%
Investment Disclaimer: Analysis based on CV10 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

The Rookery, Galley Common, Nuneaton
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,374
Based on a loan of £281,250 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.

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