This property on Crown Street in Peterborough presents an intriguing investment opportunity, offering a stable income stream while holding significant development potential. The block comprises five interconnected residential units, fully occupied and collectively generating approximately £66,000 per year. This includes six one-bedroom apartments and two three-bedroom houses, showcasing strong demand within the local rental market.
Notably, there is a substantial rear land parcel of around 1/3 acre that has previously received planning consent for the development of additional dwellings. This valuable aspect allows for future capital growth and could accommodate plans for two bungalows and two additional houses. With established residential acceptability in the area, the planning risk for new schemes appears reduced, and there is potential to revise or reapply for approvals that align with current market needs.
The existing properties maintain reasonable EPC ratings but may require updates to maximize rental appeal and efficiency. This combination of consistent income alongside promising development avenues makes this property particularly attractive for savvy investors looking to enhance their portfolio in a growing region.
