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Merging two separate plots to build flats
Comments
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"I have a plan". Hilarious.0
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Be prepared for substantial costs, Wokingham pre-application fee alone cost me £1500 for 6 flats plus £2500 for drawings and other fees, thats before a full application which you are probably talking another 15k. Have a look at planning applications on your council website, get a good architect and expect to pay anywhere from 500 - 800k for 6-8 flats.0
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...both houses would be on mortgage
You can't do something like this with mortgaged properties. This would be a commercial venture - you would need development finance or an investor.
Realistically, since it sounds like you have no track record in property development, it's very unlikely that you would find anybody to finance you.
If the property next door is for sale, a more realistic option might be to 'team up' with your neighbour and look at marketing both properties together to developers (with or without planning consent).0 -
@nubbins - thanks a lot, very valuable feedback
@edddy- thanks a lot. I agree don't have any experience in property development. I will see which are the local developers I could talk to. Thanks0
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