Development Opportunity, Rayleigh Road, Benfleet

This property presents a noteworthy investment opportunity, featuring a substantial detached block comprising six established 2-bedroom apartments. With planning permission already in place for the development of an additional four 1-bedroom units, this site holds significant potential for expansion. The existing apartments are generously sized, and there is ample parking space at the rear along with six private garages allocated to long leaseholders. The new layout incorporates a home office/study in each proposed unit, aligning with the growing demand for adaptable living spaces suitable for remote work. This thoughtful design enhances the property's appeal and offers an excellent chance to increase its capital value. The property is located in a desirable residential area, making it ideal for both immediate cash flow through ground rent and service charge income and strategic long-term growth through development. Investors will benefit from full control over the freehold interest and a well-structured lease arrangement that minimizes ground rent risk. The service charge is managed transparently, ensuring that maintenance is kept up to date. Comprehensive documentation, including planning details and lease agreements, can be provided upon request. This acquisition is perfect for developers seeking a project or investors aiming for long-term gains with built-in growth potential.