This property presents a unique investment opportunity in the form of a site currently occupied by six garages, located in the established residential area of Crofthill Road, Glasgow. The site holds significant redevelopment potential, with possibilities to convert it into four flats or two semi-detached houses, contingent upon securing the necessary planning permissions. Keeping the existing garages could yield an annual rental income of £12,000, which translates to an attractive yield of approximately 15% based on initial estimates.
The area exhibits strong demand for both residential housing and secure parking/storage solutions, making this location particularly appealing to developers and investors alike. With local amenities and transport links just a stone's throw away, accessibility is assured. This site not only serves as an immediate income-producing asset but also as a catalyst for future development amidst a community that values growth and innovation.
The surrounding neighborhood benefits from proximity to parks, schools, and is well-connected by public transport, enhancing its desirability as a residential locale. Overall, this is an excellent prospect for those looking to capitalize on the increasing demand in Glasgow's Southside market.
