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Folks are paying £1m for modern 3 bedroom flats* around here. Recouping the £3.5m, building costs and a bit of profit doesn't seem too far fetched given location and proximity to city.
* yeah I know they should know better
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If you built to the same density as the flats next door, that's maybe up to 12 flats with a market value of 500k - 100000 each. That makes 3.5m seem not so big, I reckon.
Howard
NotThamesWater
@Greenbank
£3.5m still looks an awful lot for that plot of land.