Development/Investment opportunity. Planning granted for a pair of detached blocks. The main larger block to comprise of 12 x 1 & 2 bedroom flats. 2 x 1 bedrooms, (Sizes from 573sq ft). 10 x 2 bed, 2 x bathroom flats, (Sizes from 600 sq ft). A second smaller block of 8 x flats, to comprise of; 2 x studio flats, Size 301 sq ft). 6 x 2 bedroom flats some with 2 x bathrooms, (Sizes from 598 sq ft). It is a planning requirement that six of the flats are to be used as holiday flats for 6 months of the year. All of the holiday flats are in the smaller block. Bournemouth Planning. 11 x surface parking spaces & 11 x underground parking spaces. Section 106 of £76,032.52 to be paid by purchaser. No onerous covenants. This site is ready to start once building regulations have been approved and the site has been cleared. This development site is within a short walking distance of the beach and has some views across Poole Bay from the upper floors. The site has an estimated GDV of £4,400,000. Rentable value 14 x 2 bed flats at £800.00 pcm, £134,400 p.a. + Holiday/AST £115,200 for 6 months holiday rental and 6 months AST. Total potential rental income £249,600.00 p.a. For further details please contact Andrew Hooper. More development sites and investments available on our web site: www.churchfield.uk.com
Please note: For the acquisition of any Land, Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1% (minimum fee of £2,000) plus Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell or re-let the acquired property or the developed properties on a sole agency basis within three years of completion. If Churchfield are not instructed and the acquisition is sold or Let by the purchaser/s within this period, an additional fee of 1% (minimum fee £2,000) plus Vat at the prevailing rate, of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed at the time of purchase. Once the three year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest.
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