Proposed for Protected Structure - Impact on Sales Price

crashster

I have been eyeballing a property in the KK region which was listed at 105k last year. It didnt sell and the price has been reduced now to 95k. I have been trying to decide what my going in position should be.

After doing some research it seems that last year this property was placed on to the proposed protected structure list... so while it isn't formally listed as a protected building it is subject now to the same constraints until the time that they decide to remove it from that list, or do not.

There has been planning permission on the building a few years ago but that was removed back in 2016 or there abouts. I presume that with the "proposed" status of the building any previous plans anyways would be null and void now and any future plans would be subject to a much stricter process.

I am looking for your own view on this... would you think that the seller given the above should expect a lower bid, or does the above really matter? I had thought to throw in a bid for between 80 - 85. Does that sound unreasonable?

The building needs a complete renovation. Roof tiles might salvageable but roof seems to need replacing. New sewerage tank. New windows, doors etc. Plus a complete refit of electrics and a new heating system. The building has never been converted from its original use so its not a small undertaking.

Any thoughts welcome, appreciate its hard to give firm advice based on the above.

BryanF

A property is worth what the market is willing to pay

Be careful, regarding ‘renovation’, if it is now a protected structure you may not be doing any works without first getting agreement with the local authorities conservation officer.