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Land for sale

Southampton

Offers in Region of £2,995,000

Property Description

Full description

Investment 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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To view this property or request more details, contact:

Churchfield Estate Agents, Bournemouth

122 Charminster Road, Bournemouth, BH8 8UT

03301 011254 Local call rate

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Property reference 396789. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Churchfield Estate Agents, Bournemouth. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.