Land for saleSouthcote Road, Springbourne
Sold by Us £445,000
Development/Investment opportunity available with outline planning granted for the conversion of the existing warehouse in to 14 x studio flats and 1 x 1 bed flat.
The current building is over two floors. Existing building is predominantly of block with no cavities, three sides are at ground level and the rear elevation is below ground level. The building is located to the rear of existing high-street properties with access to the site via number 11. The plans for the conversion show that the ground floor studios will only have one window and the first floor studios will have windows or roof lanterns. The building is currently occupied, but can be vacated promptly. The converted flats have sizes: Flat 1, 491sq ft (45.7 sq mt). Flat 2, 302 sq ft (28.1 sq mt). Flat 3, 331 sq ft (30.8 sq mt). Flat 4, 359 sq ft (33.4 sq mt). Flat 5, 361 sq ft (33.6 sq mt). Flat 6, 289 sq ft (26.9 sq mt) (Flat 6 is a new build extension). Flat 7, 457 sq ft (42.5 sq mt) Flat 8, 300 sq ft (27.9 sq mt). Flat 9, 312 sq ft (29 sq mt). Ground floor flat sizes: Flat 1, 409sq ft (38 sq mt). Flat 2, 409 sq ft (38 sq mt). Flat 3, 355 sq ft (33 sq mt). Flat 4, 365 sq ft (34 sq mt). Flat 5, 333 sq ft (31 sq mt). Flat 6, 376 sq ft (35 sq mt). Flat 7, 409 sq ft (38 sq mt). The vendor will pay any Section 106 or affordable contributions. Bournemouth Borough Council. The Gdv for the finished converted development of 15 x units is approximately £1,220,000. If all units were built the approximate rental value of each would be £475.00 pcm, this development will produce £85,500.00 p.a. once converted. For further details please contact Andrew Hooper on 01202 779911. More development and investments available on our web site: www.churchfield.uk.com
Please note: Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1.8% (minimum fee of £2,400) including Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell the finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed) 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 1.8% including vat (minimum fee £2,400 including vat) of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed. 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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