Tan Bank, Wellington, Telford, Shropshire, TF1 1HW

This substantial detached house presents a fantastic opportunity for conversion into a modern gated development of ten individually designed apartments. With an asking price of £900,000 translating to just £107 per square foot, this property is significantly below the local average of £241 per square foot, making it a compelling acquisition for investors and developers alike. The potential for value creation is substantial, especially with planning permission already in place for a stylish residential scheme that includes a lift and ample parking.

While the interior spaces show signs of wear and require significant refurbishment, this presents a blank canvas for a visionary buyer. The dated condition of the living areas and the exterior offers a chance to reimagine and enhance the property, allowing for the creation of appealing modern apartments with landscaped communal areas. The overall project will demand a heavy renovation effort, but the potential return on investment is promising given the significant margin compared to local market values.

However, prospective buyers should be prepared for a full-gut programme, as the property currently features stripped interiors and a projected works budget of £150,000 to £300,000. Additionally, the dated condition may raise concerns about structural integrity, so careful assessment will be crucial. With its prime location near Wellington's amenities and the potential for attractive living spaces, this property offers a unique opportunity to create a desirable residential development.