Land for saleValette Road, Moordown
Sold by Us
Development/Investment opportunity available with outline planning granted for conversion of a substantial attractive detached house into 5 x flats and a building plot for a new build detached house.
The existing building is currently let on an AST and 2 months' notice is required for vacant possession. In our opinion the current plans for the conversion of the existing building could be altered to provide better internal layouts. The existing building will convert into: Flat 1, 1 x bed 599 sq ft (55.6sq mt). Flat 2, 2 x beds 744 sq ft (69.1sq mt). Flat 3, 1 x bed 606 sq ft (56.2 sq mt). Flat 4, 2 x beds 627 sq ft (58.2 sq mt). Flat 5, 2 x beds 813 sq ft (75.5 sq mt). Outside 5 x parking spaces and gardens to three sides. I am advised that the upper floors of this house have good far reaching views. The approximate GDV for the converted house is £1,020,00.00 (In our opinion the gdv could be improved slightly if the flats were arranged more sympathetically). The building plot for a detached, two story house will comprise of: 4 x bed rooms, living room/open plan kitchen, 2 x bathrooms, cloakroom, utility room and integral garage. The house size is 1,427.83 sq ft (132.65 sq mt) including garage. Outside: Parking for 2 x cars and gardens to three sides. The GDV for the house is approximately £475,000.00. Combined GDV is £1,495,000.00. Please note that a new retaining wall will be required between the existing house and the new build property. The public right of way into Hillcrest Road needs to be blocked off as part of the planning application on commencement of development. The Garage with space in front of it marked in red is not included in the purchase. Planning application Number: 7-2015-21419-H, Bournemouth Planning. Purchaser to pay the section 106 and affordable contribution of £1,210.00. Completion to take place before March 2017. The property is situated on an elevated position and within easy reach of schools, public transport and high street shops. Full size plans are available for inspection in the Churchfield office. For further details, please contact Rob Smith or Andrew Hooper on 01202 779911. More development land 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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