This property is no longer on the market
4 bedroom terraced house
Key information
Property description & features
- Tenure: Freehold
- Attention: builders / developers / investors / landlords
- Looking for your next property development / investment?
- Sub divide / convert an existing house project
- Split an existing house, to create 4 distinct separate properties
- 2 x 1 BED GROUND FLOOR 'GARDEN FLATS' AND 2 x 1 BED FIRST FLOOR FLATS
- Each with own title, 999 year 'virtual f/h' lease, 1/4 share of the f/h
- REQUIRES SINGLE STOREY FRONT EXTN 10m2 AND DOUBLE STOREY REAR EXTN 73m2
- Full planning permission approval granted by stevenage borough council
- Unique scheme, ingeniously designed; excellent opportunity; rare availability
- Great return on investment; worthwhile investment financially; low risk
ASKING PRICE £400,000-£450,000..... GDV £890,000, GROSS PROFIT £200,000, GROSS PROFIT MARGIN 22.5%, GROSS [COMBINED] MONTHLY RENT £4,700, GROSS [COMBINED] ANNUAL RENT £56,400, GROSS [COMBINED] RENTAL YIELD 9.4%..... SUB-DIVISION / CONVERSION PROJECT: SPLIT AN EXISTING HOUSE, TO CREATE 4 DISTINCT SEPARATE PROPERTIES...... 2 x 1 BED GROUND FLOOR 'GARDEN FLATS' (41.6m2 / 38.8m2) AND 2 x 1 BED FIRST FLOOR FLATS (37.2m2 EACH)..... SOLID FINANCIALS WITH LOW RISK
Rooms
Key [Anticipated] Financial Figures:
£890,000 GDV / [Combined] Value Once Completed: £250,000 x 2 and £195,000 x 2<br />Gross Profit £200,000<br />Gross Profit Margin 22.5%<br />Gross [Combined] Monthly Rent £4,700<br />Gross [Combined] Annual Rent £56,400<br />Gross [Combined] Rental Yield 9.4%<br />Strong both Sales and Lettings Return on Investment<br />
Other Important Financial Information:
CIL Fee £8,300<br />No Restrictive Covenant Fee<br />No Section 106 Fee<br />Section 184 Fee Agreed<br />No Demolition Pre-Works<br />No Build Over Agreement Required<br />Party Wall Agreement Required Only One Side<br />
Proposed Scheme Details:
2 x 1 [Double] Bed Ground Floor 'Garden Flats', 41.6m2 / 38.8m2<br />2 x 1 [Double] Bed First Floor Flats, 37.2m2 each<br />All 'Virtual Freehold' with 999 Year Lease Terms<br />Leasehold with 1/4 Share of the Freehold<br />Only Communal Area Small Internal Entrance Hall Area <br />No Monthly Service Charges<br />No Ground Rents<br />
Proposed Internal Details - 2 x 1 Bed Ground Floor 'Garden Flats':
Communal External Main Entrance Door with Own Internal Front Door<br />Ground Floors: Lounge-Kitchen-Diners, Double Bedrooms, Bathrooms<br />
Proposed External Details - 2 x 1 Bed Ground Floor 'Garden Flats':
Bi-Fold / Concertina Doors to Rear Gardens<br />Private Enclosed Rear Gardens, 43.6m2 / 47.6m2 with Patio Areas and Turfed Lawns<br />Paved Footpath to Back Access<br />Back Access to Rear Gardens with Lockable Gate<br />1 Side-By-Side Parking Space Each<br />
Proposed Internal Details - 2 x 1 Bed First Floor Flats:
Communal External Main Entrance Door with Own Internal Front Door<br />First Floors: Lounge-Kitchen-Diners, Double Bedrooms, Bathrooms<br />
Location:
SG2, Stevenage - Longmeadow 'B'<br />Highly Desirable Area / Much Sought After Location<br />Nicely Positioned in the Street<br />Lovely Neighbours<br />Good Transport Links<br />
Local Amenities:
5 Minutes Drive to the Town Centre (and Train Station)<br />30 Minutes Walk to the Town Centre (and Train Station)<br />Pub-Restaurant, Cafe, Takeaways, and Convenience Store with Sub Post Office 'Around the Corner'<br />Shephalbury Park<br />Bus Stops: Half Hourly To / From Stevenage Town Centre (and Train Station)<br />
Envisaged Exit Strategy:
Rare Availability<br />Anticipated Quick Re-Sale / Easy Re-Finance and Let<br />Ground Floor 'Garden Flats' of Particular Appeal to: Retirees, Down-Sizers, Single Occupants, Pet Owners, Disabled Access Required<br />First Floor Flats of Particular Appeal to: First Time Buyers, Young Couples; Single Occupants, Commuters, Tenants<br />Plentiful Sales / Lettings Comparables Available for the 4 Proposed Units (Two Different Property Styles), Proving the Anticipated GDV<br />
General Summary:
Unique Scheme, Ingeniously Designed<br />Straightforward & Uncomplicated Build<br />No Hidden Fees or Charges<br />Simple and Achievable Exit Strategy Options<br />Worthwhile Investment Financially: Solid Financials with Low Risk<br />
Agent's Notes:
1.<br />All information in this listing relating to this property contained has been supplied to us by the Vendor;<br /> <br />2.<br />The Vendor - an expert in obtaining Planning Gain - is Open, Honest, and Helpful;<br /> <br />3.<br />Standard Sale / Purchase only, the Vendor will not entertain any Joint Venture / Lease Option offers;<br />
Further Information / Contact:
Please call Alan Hilditch, Director, at Satchells (Baldock Office) to discuss or request further information
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 27808087. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Satchells - Commercial.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.