Land for sale
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
GUIDE 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
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