Land for saleSouthampton
Offers in Region of 1 sq. ft. | £2,995,000
Full descriptionInvestment opportunity with development potential. Greenlea Court is a development of 4 x detached purpose built blocks constructed in the 1960's. There are 6 x flats per block. 18 x 2 x bedroom flats and 6 x 3 x bedroom flats. All the flats are on assured short hold tenancies. There are 12 garages in a block directly across the road from the blocks of flats and an additional parking area. The flats currently produce £13,416.67 PCM, £161,000 PA. The vendor advises me that a local architect has indicated that a minimum of 18 x flats would be possible stpp on the land between each block and each block has the potential to convert the loft areas to provide an additional pair of flats in the roofs. Local agents value the individual flats and garages at £2,890,000. This is a great investment opportunity with further development potential subject to necessary planning approval. For further information please contact Andrew Hooper. More investments and developments 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 1.5% (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 the finished units at 1.5% + vat or re-let at 8% + 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 1.5% + vat (minimum fee £2,000 + 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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