Land for sale

The subject property is a two storey former Social Club occupying a prominent position on the corner of Sheffield Street West and Dale Street, within an area of high rental demand within Scunthorpe. The property is sold with the benefit of full planning permission for the demolition of the existing building and the erection of a three storey building to include : 4 two bedroom, two storey terrace houses, and : 6 one bedroom self contained apartments. The scheme represents a quality opportunity to purchase a scheme in an area with high demand, and we advise of a potential rental income of approximately £41,500 per annum gross.

Introduction

The subject property is a two storey former Social Club occupying a prominent position on the corner of Sheffield Street West and Dale Street, within an area of high rental demand within Scunthorpe. The property is sold with the benefit of full planning permission for the demolition of the existing building and the erection of a three storey building to include : 4 two bedroom, two storey terrace houses, and : 6 one bedroom self contained apartments.
The scheme represents a quality opportunity to purchase a scheme in an area with high demand, and we advise of a potential rental income of approximately £41,500 per annum gross.

Situation

Ideally situated close to Scunthorpe town centre, with all local shops and amenities, schools, public houses and restaurants, local bus routes and train station, easy access to M180 motorway links.

Existing Building

They currently hold the Former St Phillips Social Club, which is two storey premises of traditional contruction. The current plans allow for the clearing of the existing site to allow for the new scheme.

Rental Demand

We advise of a potential gross rental income of approximately £41,500 per annum based upon full occupancy. The two bedroom town house is expected to generate an income of approximately £375 per calendar month, while the one bedroom apartment is expected to generate a rental income of approximately £325 per calendar month.

Planning Permission

North Lincolnshire Council granted the planning permission under the reference PA/2008/1336.
The planning permission is based upon the erection of a block of four terraced two bedroom houses and six apartments with associated parking (including the demolition of existing club) at St Phillips Club, Sheffield Street West, Scunthorpe.
For copies pf plans and or planning permission please contact the auction department directly on 0845 5193 126

Potential For Joint Venture

The existing vendor may consider a joint venture of partnership to build out the scheme.

These particulars are for guidance only. JMC (North Lincolnshire)Ltd., t/a Lovelle Estate Agency, their clients and any joint agents give notice that:-
They have no authority to give or make representations/warranties regarding the property. These particulars do not form part of any contract and must not be relied upon as statements or representation of fact.
All measurements/areas are approximate. The particulars including photographs and plans are for guidance only and are not necessarily comprehensive.