Withdrawn
Withdrawn Prior
Sold Prior
Sold Prior
Sold
Sold Post
The property comprises a rarely available investment/development opportunity within an established residential area.
Arranged across ground and three upper floors, the property was previously used as a 23 bedroom supported living facility and is offered with vacant possession.
We consider the property could be suitable for conversion to residential use. The property currently benefits from planning consent for conversion to provide 8 x two bedroom flats, but other uses of higher massing such as an HMO may also be possible (subject to obtaining the requisite consents).
The property presents an excellent opportunity to create a high yielding investment with an income in the order of £100,000 per annum. Please find the Local Housing Allowance (LHA) rates for the area below:
The property is accessed from Potter Street and the proposed development will benefit from eight car parking spaces. The surrounding area comprises established residential use with the average house price in the CM17 postcode area being £356,000 (Source: Mouseprice.com)
Tenure
Freehold
Planning
The property has full planning consent (Reference: HW/FUL/23/00371) for the conversion of the existing building to provide 8 x Two Bedroom Flats for social renting, alongside associated works.