*Development Opportunity*
FOR SALE BY AUCTION: 13TH DECEMBER 2011
RESULT: LAST BID £145,000
AVAILABLE FOR £150,000
This Lot Features....
- Residential development opportunity
- P/P granted for 5 x 2 bedroom self-contained flats
- Within walking distance of Leicester City Centre, De Montfort University & Leicester Royal Infirmary
- Estimated full rental income: £31,500 per annum (when developed)
- Ideal for developers
Location
The property is located near to the main A5460 Narborough Road, close to Stuart Street which is within walking distance of Leicester De Montfort University, Leicester City Centre and Leicester Royal Infirmary. The property also provides good transport links to the main M1 and M69 Motorway networks.
Description
Freehold property which may be of interest to builders or rental investors, previously being used as a warehouse. The property has Planning Permission granted for conversion into 5 x 2 bedroom Self-contained Flats.
Accommodation
A former two storey building with warehouse area on the ground floor and storage rooms on the First Floor.
Section 106
The Planning Permission is subject to a Section 106 contribution of £1,152 for the youth/adult playing space at Thirlmere Gardens and £1,000 for the Residents Parking Scheme.
Planning Permission
Planning Permission has been granted on 10th June 2009 for change of use from warehouse (Class B8) to 5 x 2 bedroom self contained Flats (Class C3) (Ref No. 20081525).
Building Regulations have also been approved - Application No. 09/00421
Schedule of Flats
|
Flat |
Floor |
Accommodation |
Size (Approx.) |
Estimated Rent Per Calendar Month |
Estimated Rent Per Annum |
|
1 |
Ground |
Entrance hall, lounge, kitchen, two bedrooms, bathroom |
688 sq ft (64 sq m) |
£525 |
£6,300 |
|
2 |
Ground |
Entrance hall, lounge, kitchen, two bedrooms, bathroom |
645 sq ft (60 sq m) |
£525 |
£6,300 |
|
3 |
First |
Entrance hall, lounge, kitchen, two bedrooms, bathroom |
688 sq ft (64 sq m) |
£525 |
£6,300 |
|
4 |
First |
Entrance hall, lounge, kitchen, two bedrooms, bathroom |
645 sq ft (60 sq m) |
£525 |
£6,300 |
|
5 |
First |
Entrance hall, lounge, kitchen, two bedrooms, bathroom |
570 sq ft (53 sq m) |
£525 |
£6,300 |
|
Estimated full rental income |
£31,500 |
||||
Note
- The completion date will be on or before eight weeks following exchange of contracts.
- All sizes and measurements have been provided by the vendors, Shonki Bros. take no responsibility for any misrepresentation within these sales particulars.
- No VAT is applicable on this Lot.
- The plans are available for inspection at the auctioneer’s office.
Price Guide
£150,000+
Solicitors
Rajinder Singh & Co, 85 London Road, Leicester, LE2 0PS
Tel: 0116 254 5929 (Ref: R.S)
