MapGuide price
£325,000Residential development for sale
Railway Terrace, Rugby CV21
Chain-free
Under offer
Residential development
8 beds
Features and description
- 4 single, 4 double bedrooms, all with en suites
- Gas central heating and metered electricity
- Close to the town centre and railway station/bus station
- HMO potential
- Conversion into apartments (stnc)
- £480 per night at full occupancy
- Refurbishment required, could uplift value
- Energy rating TBC
- Council tax/business rates will potentially apply subject to use
- No chain
A freehold investment/development opportunity, which is currently part of a hotel. With eight bedrooms (four doubles, four singles), all with either en-suite bathrooms or shower-rooms, The property could also been converted into an HMO, or apartments.
The Opportunity
An unusual opportunity to purchase a freehold (title to be split) investment/development opportunity, which is currently part of a hotel. With eight bedrooms (four doubles, four singles), all with either en-suite bathrooms or shower-rooms, the property is currently heated via a communal gas boiler and will have it's own electricity metre. The single rooms are circa £55 per night and the doubles £65, however the room could benefit from refurbishment and with concentrated marketing could achieve more. The property could also been converted into an HMO, or apartments. There is the potential to negotiate with the owner about parking spaces on a purchased or permit basis. Positioned close to the town centre and railway station/bus station, this could be a lucrative investment for a seasoned investor. No chain.
About the Area
Rugby's economy is mainly industrial and distribution. It is an engineering centre and has a long history of producing gas and steam turbines at the GEC and at the AEI. The AEI was earlier British Thomson-Houston or BTH. They used to dominate employment in the town. They are now amalgamated to form Alstom. Engineering in Rugby is still the most important sector. There are three new retail parks, "Elliot's Field" which is leisure and fashion centric, "Junction One" which has a 9 screen cinema and several shops and fast food outlets. "Technology Drive" is mainly home stores and DIY based. Elliot's Field has launched a second phase with more big names to compliment the existing retailers. There are many excellent schools In Rugby including grammar school (Lawrence Sherrif), Girls School, Ashlawn School (OFSTED Top Rated) and of course the world famous Rugby School where the modern game of Rugby was born.
Continued
Rugby is credited as the town that gave the inspiration for the modern Olympic Games, the invention of the laser, hologram and jet engine and enjoys a growing tourism economy as the council and other partners increase the promotion and marketing of the town which is the fastest growing in the West Midlands. London is only 54 minutes away by (non-stop) train, and the town is excellently positioned for the M1, M6 and A5 as well as the A45, A46 and DIRFT.
About the Agent
Viewing is strictly by appointment via the sole agents, Cadman Homes. We are a local, family owned and run firm of estate and letting agents covering the Rugby, Lutterworth, Coventry and Leamington areas. If you are unsure of the value of your home, or simply haven't chosen an agent to sell or let it, we'd love to show you what we can do for you. For valuations, mortgages, conveyancers and more contact the local office. We specialise in character/listed properties and bespoke new build and development sites.
Council Tax Band: A
Tenure: Freehold
The Opportunity
An unusual opportunity to purchase a freehold (title to be split) investment/development opportunity, which is currently part of a hotel. With eight bedrooms (four doubles, four singles), all with either en-suite bathrooms or shower-rooms, the property is currently heated via a communal gas boiler and will have it's own electricity metre. The single rooms are circa £55 per night and the doubles £65, however the room could benefit from refurbishment and with concentrated marketing could achieve more. The property could also been converted into an HMO, or apartments. There is the potential to negotiate with the owner about parking spaces on a purchased or permit basis. Positioned close to the town centre and railway station/bus station, this could be a lucrative investment for a seasoned investor. No chain.
About the Area
Rugby's economy is mainly industrial and distribution. It is an engineering centre and has a long history of producing gas and steam turbines at the GEC and at the AEI. The AEI was earlier British Thomson-Houston or BTH. They used to dominate employment in the town. They are now amalgamated to form Alstom. Engineering in Rugby is still the most important sector. There are three new retail parks, "Elliot's Field" which is leisure and fashion centric, "Junction One" which has a 9 screen cinema and several shops and fast food outlets. "Technology Drive" is mainly home stores and DIY based. Elliot's Field has launched a second phase with more big names to compliment the existing retailers. There are many excellent schools In Rugby including grammar school (Lawrence Sherrif), Girls School, Ashlawn School (OFSTED Top Rated) and of course the world famous Rugby School where the modern game of Rugby was born.
Continued
Rugby is credited as the town that gave the inspiration for the modern Olympic Games, the invention of the laser, hologram and jet engine and enjoys a growing tourism economy as the council and other partners increase the promotion and marketing of the town which is the fastest growing in the West Midlands. London is only 54 minutes away by (non-stop) train, and the town is excellently positioned for the M1, M6 and A5 as well as the A45, A46 and DIRFT.
About the Agent
Viewing is strictly by appointment via the sole agents, Cadman Homes. We are a local, family owned and run firm of estate and letting agents covering the Rugby, Lutterworth, Coventry and Leamington areas. If you are unsure of the value of your home, or simply haven't chosen an agent to sell or let it, we'd love to show you what we can do for you. For valuations, mortgages, conveyancers and more contact the local office. We specialise in character/listed properties and bespoke new build and development sites.
Council Tax Band: A
Tenure: Freehold
About this agent
Cadman Homes are an independently owned “family firm” specialising in the marketing, sale and letting of character properties and new builds/conversions. The management team have nearly 100 years combined experience as Estate Agents & Lettings Agents in and around Rugby, Leamington, Kenilworth and South Leicestershire, and specialise in different sectors of the property market. They are all experts all types of properties but excel in the bespoke marketing of character properties and new build developments. Keeping family values at the core of what we do, we want our clients to see us as trusted advisors for the long term. You deserve to be impressed by Estate and Letting Agents. We want you to enjoy the red carpet treatment from the moment you first speak with us. We set up Cadman Homes as a small letting agency in 2008, during the depth of the recession, as a result of Valerie being a victim of redundancy. We have grown into a multi-award winning practice winning local, national and international awards for innovation, marketing as well as “best in show”. Most recently we are proud to be judged in the top 5% of estate and letting agents We all know the property market inside out. You will always have the support of the whole team, but also benefit from a member of the management team being assigned to you, who will specialise in a relevant area of property be it sales, lettings, investment, property management or property law. Unlike many other agents, they will also have a "360 degree" knowledge of the entire process of buying, selling or letting property. This insures that you get peace of mind and benefit from the very best advice and support. We've been in your shoes as a seller, buyer, tenant & landlord! No matter whether you're a vendor, landlord, potential tenant or buyer, we're here for you, even outside of office hours. Our mission statement is "To provide a 24 hour 7 day per week service to vendor, buyer, landlord and tenant, and hopefully do our bit to MAKE YOUR PROPERTY JOURNEY as EASY and STRESS FREE as possible".
