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Aston Road, Wem, Shrewsbury - Image 1
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Aston Road, Wem, Shrewsbury

West Midlands

£300,000
Listed on 21/06/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

Set against a picturesque backdrop of neighboring farmland, this expansive building plot presents a unique opportunity for those looking to invest in residential development. With full planning permission already secured for the construction of two detached homes featuring three to four bedrooms and single garages, this site is ready for immediate development. The planning application (No. 22/05030/FUL) was approved on January 12, 2023, allowing for the design and construction process to commence without delay. Located in one of Wem's most desirable areas, this property is conveniently positioned within proximity to essential amenities. The town offers a variety of local shopping options, recreational activities, and educational facilities, making it an appealing locale for families and individuals alike. Additionally, the mainline railway station provides easy access to larger urban areas, with Shrewsbury—a town rich in amenities—just approximately 12 miles away. This site not only brings immediate development potential but also promises significant long-term investment value given its excellent location and demand for housing in the region. Prospective buyers are encouraged to conduct their own investigations regarding site suitability and any required future developments. The property will be sold freehold with vacant possession upon completion, providing a straightforward transition for new owners. Interested parties should reach out for additional details about planning documentation or any specific inquiries regarding utilities or services available on-site. Early viewing is advised to fully appreciate the potential this prime plot offers.

Investment Analysis

(SY4 area)
Area Average
£279/sq ft
Avg Rent (weekly)
£224
Avg Yield
3.4%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£300,000 - £500,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
24
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (SY4)

Area prices are stable by +1.4% over the last 12 months
3 year growth: 5.2%
5 year growth: 24.1%
Investment Disclaimer: Analysis based on SY4 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

Aston Road, Wem, Shrewsbury
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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
£1,099
Based on a loan of £225,000 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