Grange Road, Middlesbrough

This property represents a noteworthy opportunity for investors looking to capitalize on the demand for student accommodation in Middlesbrough. With planning permission already granted, the project involves converting the premises into 21 student studios across four levels, including a basement. Ideally situated just a five-minute walk from both Linthorpe Road and Borough Road, as well as being in proximity to the University of Teesside and the central shopping area, this location is poised for success. The variety in studio sizes will allow you to compete effectively with existing local offerings. Based on projected occupancy rates, potential gross income could reach between £140,000 and £190,000 annually upon completion. This investment stands to deliver a gross development value estimated between £1.4 million and £1.9 million, depending on final specifications and market conditions.