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Project Name
Alex Sam Martin -
Category
Residential -
Date
17 Aug 2023
Project Details
Purpose: Levene Chartered Surveyors received instructions to inspect and report the value of this property in its current condition, following the installation of the proposed and ordered kitchen, bathrooms and cabinetry and once the refurbishment works are complete.
Planning Use: Class C3 (Residential)
Type of security: Freehold 6-bedroom detached house with grounds and further pavilion accommodation, annexe and staff flat
Property Description:
A large four-storey, six-bedroom gated detached house with a basement swimming pool/leisure complex is set within a 14-acre plot, including residential annexe accommodation, garaging, a tennis court, and a tea house.
Size:
· Floor Area (GIA) total: 15,226 sqft (1412.43sqm) made up of:
o Main House 12,626 sqft (1,173 sqm)
o Pavilion Annex: 1,436 sqft (136 sqm)
o Annex/Garage: 1,016 sqft (94 sqm)
o Tea House: 118sqft (11sqm)
Market Value:
· £6,935,000 (Six Million Nine Hundred & Thirty-Five Thousand Pounds
SWOT Analysis:
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Strengths |
Weaknesses |
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· Desirable private estate location · Large, secure and private plot – notably, its privacy and security are greater than commonly found · High specification and newly refurbished house and annexe with leisure complex including an indoor pool and tennis court. · Only £356,834 required by the applicant to complete the works |
· £1,583,825 of expenditure is required to complete the work if items not installed in the property are excluded, which is prudent for loan security purposes. · Largest house in the Estate and relatively small marketplace for a house at this price point, although there is a limited supply of comparable houses |
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Opportunities |
Threats |
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· Possibilities for extension and outbuildings are subject to planning, which may enhance the market value.
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· Economic downturn, Brexit uncertainties still loom, COVID-19's full impact, and the impact on the cost of living resulting from the ongoing wars in Ukraine/Russia and Israel/Gaza. Ongoing global uncertainty is causing a degree of caution in the property market. |
