I suspect that they are not allowed to turn it into a home due to daylight and ventilation requirements. It certainly can’t be rented out. So instead they sell it as a basement, and let the owner fix it themselves. Meaning that the property develop just got 30k for an otherwise useless basement.
Fitted out as a one bed / studio this would sell in the low end of £200-300k If you’re a property developer 30k for the land actually seems cheap.
(Streatham Rail is about 25 mins from the city of London)
Yeah it’s actually suspiciously cheap.
I suspect like many basements it doesn’t have full head height. Probably requires excavation + foundation work etc.
I suspect that they are not allowed to turn it into a home due to daylight and ventilation requirements. It certainly can’t be rented out. So instead they sell it as a basement, and let the owner fix it themselves. Meaning that the property develop just got 30k for an otherwise useless basement.
For example: https://www.righttolightsurveyors.co.uk/sunlight-and-new-house-design-beware-the-temptation-to-use-standard-plans-without-full-consideration/