Residential development for sale
Features and description
- Tenure: Leasehold (87 years remaining)
- 2
- 6
- 1
- Residential Development
- Hmo
- Leasehold with approximately 87 year(s) remaining
The property is a spacious two-floor maisonette spanning 1,651 sq ft and comprises of six bedrooms, one reception room with kitchen, a separate eat-in kitchen, a roof terrace, a bathroom with bath, shower and toilet, a separate toilet and an additional shower room. It holds an HMO license for nine occupants but is currently let to six tenants, providing a clear opportunity to improve the rental yield.
The current annual rental income is £71,890.
Planning was granted in March 2023 to convert the maisonette into three self contained two bedroom, 2 bathroom flats which has the added advantage of changing the planning status to C3, subject to Freeholders consent. further information on request.
The property is held on a leasehold with just under 88 years remaining, and the vendor has already begun discussions regarding a potential lease extension.
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