OIEO £1,200,000 Subject to Contract
An unmodernised house currently arranged as 10 studios.
The building was granted planning permission in 2012 for extensions and conversion from one house into three self-contained flats – 1 x 1 bed, 1 x 2 bed and 1 x 3 bed with a proposed net saleable area of 2,684 sq ft.
We understand the extensions were undertaken to create the current configuration.
The building was subsequently used for three years, after the extensions were developed, as 10 studios which were all separately rated for council tax.
Asset management angles include:
- Refurbish as studios which could generate a rental income to an investor of approximately £100,000pa,
- Refurbishing the flats to finalise the previously implemented planning consent as three self-contained flats
- Converting the building back into a single dwelling
The building is being sold with full vacant possession