Gatefield Street, Crewe, Cheshire, CW1 Land for sale

Whitegates in Crewe are pleased to introduce this incredible investment opportunity, that presents a former Rock and Metal club that has been granted planning permission for 13 apartments, one office space, and features five entrances for convenience. Additionally, there is a car park included at the rear of the building. The property boasts a large cellar that can be utilised as extra space, despite not having permission to build due to head height restrictions. It also includes 8 reception rooms, three wash rooms, two shower rooms, two kitchens, a bar, and various other amenities. With its unique history and vast potential, this building is an ideal opportunity for investors looking to capitalise on a versatile property with multiple potential uses. Don't miss out on this chance to turn this former club into a lucrative investment venture, and contact Whitegates today to arrange your viewing!

The rental income potential for this property is impressive, with the 13 one-bedroom flats estimated to generate approximately £675 per calendar month each, and the office space projected to bring in around £1,000 per calendar month. This equates to a substantial annual income of £117,300, which over a 10-year period amounts to an impressive £1,173,000. Additionally, the potential sale price for the 13 one-bedroom apartments ranges from £75,000 to £85,000 per flat, and the office space is estimated to sell for approximately £175,000 to £225,000, resulting in a minimum total sale price of £1,150,000.

In conclusion, this investment opportunity presents a chance to secure a substantial and consistent rental income, as well as the potential for significant returns through the sale of the developed apartments and office space. With the building's prime location and the added benefit of the car park, this property is a promising prospect for investors seeking a high-yield opportunity in the real estate market.

The location offers the convenience of being close to Crewe town centre, schools, other essential amenities and easy access to transport links, including the train station and bus station.

Tenure - Freehold
Council Tax Band - N/A

Thinking about selling your property? For a FREE valuation from one of our local experts, please call or e-mail our Whitegates office, and we will be happy to assist you with an award-winning service.

Rooms

Cellar Rooms

Cellar 4.39m x 4.19m (14' 5" x 13' 9")

Cellar 4.39m x 3.01m (14' 5" x 9' 11")

Cellar 8.75m x 2.49m (28' 8" x 8' 2")

Reception Room 7.2m x 5.99m (23' 7" x 19' 8")

Bar 4.49m x 1.71m (14' 9" x 5' 7")

Reception Room 4.49m x 2.36m (14' 9" x 7' 9")

Shower Room 2.8m x 2.66m (9' 2" x 8' 9")

Kitchen 4.91m x 2.2m (16' 1" x 7' 3")

Utility Room 2.2m x 1.77m (7' 3" x 5' 10")

Reception Room 15.8m x 9.22m (51' 10" x 30' 3")

Reception Room 3.56m x 3.09m (11' 8" x 10' 2")

Reception Room 3.53m x 3.32m (11' 7" x 10' 11")

Reception Room 4.83m x 4.6m (15' 10" x 15' 1")

Toilet

Shower Room 2.85m x 1.88m (9' 4" x 6' 2")

Reception Room 7.15m x 4.19m (23' 5" x 13' 9")

Reception Room 4.6m x 4.05m (15' 1" x 13' 3")

Lobby

Kitchen 3.7m x 2.59m (12' 2" x 8' 6")

Store 2.58m x 2m (8' 6" x 6' 7")

Auction Comments
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, IAMSOLD Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

Auction Comments
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with IAMSOLD and provide proof of how the purchase would be funded.

Auction Comments
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by IAMSOLD. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Auction Comments
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

Land for sale

Key information

Features and description

Rooms

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