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Land off, Ridding Lane & Addison Street, Wednesbury - Image 1

Land off, Ridding Lane & Addison Street, Wednesbury

West Midlands

£250,000
Listed on 21/09/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This freehold ‘L’ shaped parcel of land spans approximately 0.2 acres and boasts dual frontages on Ridding Lane and Addison Street, presenting a promising opportunity for redevelopment. Planning permission is already in place for the construction of seven residential units, which include a terrace of four two-bedroom houses facing Ridding Lane and another terrace of three two-bedroom houses along Addison Street. Situated in Wednesbury, the property benefits from its proximity to established residential neighborhoods and is located just 0.25 miles from the town center. This advantageous location provides easy access to essential amenities, enhancing the appeal for future residents. Major nearby urban centers such as Birmingham, Wolverhampton, and West Bromwich are within reach at distances of about 11 miles, 7 miles, and 2.5 miles respectively. Furthermore, the site offers convenient connections to the wider transport network, with Junction 9 of the M6 Motorway located approximately 1.25 miles away. This accessibility can be a significant factor for potential renters or buyers seeking homes in this burgeoning area. Given these attributes, this property not only holds immediate development potential but also represents a strategic investment opportunity in a growing market.

Investment Analysis

(WS10 area)
Area Average
£229/sq ft
Avg Rent (weekly)
£200
Avg Yield
4.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£700,000 - £900,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
20
Average per month
Market Turnover
14%
Properties sold annually

Local Market Trend (WS10)

Area prices are rising by +4.2% over the last 12 months
3 year growth: 5.1%
5 year growth: 33.7%
Investment Disclaimer: Analysis based on WS10 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

Land off, Ridding Lane & Addison Street, Wednesbury
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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
£916
Based on a loan of £187,500 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.

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