EXCELLENT INVESTMENT OPPORTUNITY - PLANNING PERMISSION GRANTED TO CONVERT A VACANT COMMERCIAL UNIT TO 15 RESIDENTIAL BEDSITS. PLANNING REF: 20/01974/PLF . YOU CAN START EARNING INCOME STRAIGHT AWAY AS THE BASEMENT IS LET AND WILL ACHIEVE APPROX £700 PER MONTH.
This currently vacant commercial unit has gained full planning permission to convert into a block of four separate units offering a total of 15 bedsits all with en-suite shower rooms. Each block has its own kitchen, lounge and WC on the ground floor with bedrooms on the first floor.
There is also a large cellar which could potentially provide separate commercial storage units.
The property has already been cleared ready for work to be started and new windows purchased for the entire building.
The property when completed has potential gross rental revenue of approx. £48,000 and a double digit annual return on investment.
Tenant demand is high in the area and the development makes an ideal investment whether built to hold or sell on to an investor.
EPC rating: Unknown.