Property Highlight: apartment development opportunity, Braintree, UK

Getting our 'Property Highlight' series off to a great start in 2023 is this excellent development opportunity - a brownfield site cleared for a potential apartment block in Braintree, Essex, UK.

Located along the vibrant and central Masefield Road in Braintree, UK, this site was previously home to a pub, which has now been demolished to make way for new construction.

The land, which measures approximately 0.2422 acres (10550.23 sqft), has been the subject of various planning proposals - most recently, an application for 11 flats, which was withdrawn in consultation with the planning officer, who required a few changes in the design. There is even potential for the creation of an additional three flats if the proposed car parking area on the ground floor is relocated elsewhere. Once proposals are finalised, and full planning permission is granted, it is anticipated that the value of the site will increase substantially to around £750-£800,000.

A new residential development in this location will be ideally placed, adjacent to the local supermarket, post office, pharmacy and takeaways, within walking distance to schools as well as having great motorway and public transport links, with the nearest bus stop just 0.1 miles away at the John Ray School. Chelmsford City Centre is situated just 11.6 miles away, while Colchester Town Centre is 17.5 miles away.

The case details

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Financial details

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Agents figures

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Market data

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Investment details

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Development

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