Warrenhyrst, 15 Warren Road, Guildford, Surrey, GU1 2HD

Location

Warren Road is situated in a well-established residential area of Guildford, approximately 0.7 miles East of the town centre.

The location offers excellent access to the A3 and wider road network, with Guildford railway station providing direct services to London and surrounding areas.

Description

A rare opportunity to acquire the freehold for a block of 15 flats, on a popular road, with landscaped grounds and 15 garages to the rear. The opportunity benefits from approved planning permission to add three further new build dwellings to the roof of the existing block.

Title No. SY631367
Planning No. 23/W/00088

Within the consented scheme there is a planning provision for 11 additional car parking spaces, 6 of which are to be visitor bays, Plot 1 is allocated 1 space and Plots 2 & 3 are to be allocated 2 spaces each respectively.

From our research we believe the new build flats have the following potential GDV

Plot 1 £323,000
Plot 2 £535,000
Plot 3 £530,000
GDV £1,388,000

We invite you to undertake your own research to the potential GDV.

Furthermore it is felt that there could be potential to redevelop the land that the garages are upon to add residential dwellings above, with garages below. This will need detailed investigation by the prospective purchaser as there will be complications to overcome with the existing leaseholders of the various garages and planning permission will be required for the potential development of the garages.

Investment Details

A consented residential development opportunity comprising the freehold interest in the roof space, with planning consent for the construction of three additional flats. The existing residential block is excluded from the sale, with the disposal subject to the statutory rights of first refusal of the existing leaseholders.

Tenure Comments

The freehold is available For Sale, on terms to be agreed by negotiation.

Note - the current flats pay a pepper corn ground rent.

Legal Costs

Each party to bear their own professional and legal costs.

VAT

It is understood the property is elected to pay VAT.

Energy Performance Rating

Not Applicable - New build roof development, existing flats have been sold on, on long leases.

Existing Development With Planning Permission

Rooftop Development For 3 New Flats

Popular Residential Location