This freehold residential property offers a promising investment and development opportunity in one of the most desirable neighborhoods of Barry. Spanning approximately 0.21 hectares (0.51 acres), the site has minimal existing coverage at around 12%, presenting ample potential for expansion or redevelopment, pending planning approval.
Currently, the building comprises a three-story structure with seven fully let apartments occupied by long-standing tenants, generating an annual gross rental income of £53,340. This stable rental stream positions the property as a solid income-generating asset while also highlighting its potential for value enhancement through strategic renovations or redevelopment initiatives. The surrounding area is experiencing significant regeneration, adding further appeal to this investment.
Barry itself is a thriving coastal town located roughly nine miles southwest of Cardiff. Historically recognized for its role in coal exportation, Barry has transformed into a vibrant community that supports local industry and serves as a convenient commuter hub for those working in the capital city. With average house prices in Barry reportedly increasing by 11% last year, this location shows strong signs of growth and demand.
In summary, this property not only offers immediate rental yields but also provides considerable scope for future development in an evolving market landscape.
