Commercial Road, Nottingham
- PROPERTY TYPE
Detached
- BEDROOMS
16
- BATHROOMS
11
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- SUBSTANTIAL RESIDENTIAL DEVELOPMENT AND INVESTMENT OPPORTUNITY
- PLANNING PERMISSION FOR THE CONVERSION INTO ELEVEN SELF-CONTAINED APARTMENTS
- PROPOSED DEVELOPMENT COMPRISING SIX ONE-BEDROOM AND FIVE TWO-BEDROOM APARTMENTS
- EXTENSIVE BUILDING CURRENTLY PRESENTED AS A BARE SHELL READY FOR CONVERSION
- ACCOMMODATION ARRANGED ACROSS THE GROUND AND FIRST FLOORS
- POTENTIAL TO CREATE A SUBSTANTIAL RESIDENTIAL RENTAL PORTFOLIO
- ESTIMATED GROSS RENTAL INCOME OF APPROXIMATELY £92,100 PER ANNUM WHEN COMPLETED AND FULLY LET
- APPROVED PLANS INCORPORATING BIN AND CYCLE STORAGE FACILITIES
- CONVENIENT LOCATION CLOSE TO BULWELL TOWN CENTRE, TRAM, RAIL AND BUS CONNECTIONS
- 1. EXCELLENT OPPORTUNITY FOR DEVELOPERS AND INVESTORS LOOKING FOR A CONVERSION PROJECT
Description
AN EXCITING RESIDENTIAL DEVELOPMENT AND INVESTMENT OPPORTUNITY COMPRISING A SUBSTANTIAL BUILDING WITH PLANNING PERMISSION FOR CONVERSION INTO ELEVEN SELF-CONTAINED APARTMENTS, CURRENTLY PRESENTED AS A BARE SHELL READY FOR DEVELOPMENT.
Robert Ellis Estate Agents are delighted to bring to the market this substantial residential development and investment opportunity, situated on Commercial Road in Bulwell, Nottingham. The property offers an exciting opportunity for developers and investors to acquire a sizeable building with planning permission for conversion into eleven self-contained residential apartments.
The building benefits from planning permission granted by Nottingham City Council under reference 20/00789/PFUL3, dated 16th April 2021, for conversion into eleven residential apartments with associated external alterations. The proposed accommodation comprises six one-bedroom and five two-bedroom apartments, arranged across the ground and first floors.
The accommodation is currently presented as a bare shell, with the internal areas requiring construction and fitting out in accordance with the proposed plans. This provides an excellent opportunity for an incoming purchaser to undertake the necessary conversion works and create eleven individual residential properties, with the flexibility to determine the internal specification and finishes to suit their intended investment or resale strategy, subject to the necessary approvals.
The proposed development incorporates a range of one and two-bedroom apartments, together with provision for bin and cycle storage facilities. Once completed, the apartments could provide an attractive residential rental portfolio, appealing to tenants looking for conveniently located accommodation with access to local amenities and public transport connections.
The property occupies a convenient position within easy reach of Bulwell town centre, where there is a wide range of shops, supermarkets, schools and other everyday amenities. Bulwell railway station, tram services and regular bus routes provide excellent connections to Nottingham city centre and surrounding areas, while the A610 and nearby road network provide access towards the M1 motorway.
From an investment perspective, the proposed development offers considerable potential. Based on anticipated rental values of £675 per calendar month for each of the six one-bedroom apartments and £725 per calendar month for each of the five two-bedroom apartments, the completed scheme could generate a combined gross rental income of approximately £92,100 per annum once fully completed and let. These figures are estimates and would be subject to prevailing market conditions at the time of completion.
The opportunity may appeal to experienced developers looking to complete the residential conversion and potentially sell the individual apartments, or investors seeking to create and retain a substantial residential portfolio capable of generating an attractive long-term rental return.
This is a fantastic opportunity to acquire an extensive residential conversion project in a well-connected Nottingham location, offering significant potential for developers and investors alike.
Viewing is highly recommended to appreciate the scale of the existing building and the development potential on offer.
SUBSTANTIAL RESIDENTIAL DEVELOPMENT AND INVESTMENT OPPORTUNITY IN BULWELL, NOTTINGHAM
Brochures
Commercial Road, Nottingham- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Visit our security centre to find out moreDisclaimer - Property reference 34997163. 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 Robert Ellis, Arnold. 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.
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