Nightingale Walk, Hemel Hempstead, Hertfordshire, HP2

Freehold airspace with planning approval!

A fantastic opportunity to acquire this airspace lease with planning permission for twelve apartments in the desirable Hertfordshire location of Hemel Hempstead.

The lease is sold with the benefit of providing 12 long leasehold interests (one for each apartment)together with a demised parking space for each apartment.

Each apartment is 50sqm in size and a one bedroom/two-person apartment.

Planning reference: Dacorum Borough Council 24/00588/DPA Dated 3rd of May 2024

(Construction of two additional storeys of new dwellinghouses above 1-12 and 26-31 Nightingale Walk to provide 12 new residential units (Class C3))

The Gross Internal Area of approx. 6456sq. ft. (600m2). There will be a CIL liability of approx. £105,000.

There is an obligation to; make alterations to the current car park in order to provide additional spaces, enlarge the bin storage and the purchaser is required to adhere to all planning conditions.

Martyn Gerrard`s New Homes team have advised of a GDV of £2,760,000 once the properties have been built. (£230,000 per completed unit)

Hemel Hempstead has always enjoyed a reputation as a highly desirable residential area, with a bustling town centre containing restaurants, shops and leisure spaces.

Transport links are excellent, with the M1, A1 and M25 being within a 5 minutes’ drive, and Luton, Stanstead and Heathrow Airports are all within a 45 minute drive.

Tenure : Long leasehold

Guide Price : £600,000

An excellent opportunity for a developer or investor.

Viewings are strictly by appointment only

PLEASE NOTE: One of the Directors of Martyn Gerrard Estate Agents has a substantial interest in the vendor company.