Canalside, Redhill, Surrey RH1

This property presents a compelling renovation and investment opportunity in the heart of Canalside Redhill. The freehold title includes existing flats with long leases—107 years remaining and no ground rent obligations—making it a strategic acquisition for developers or investors seeking to enhance their portfolio. With full planning permission already granted, there is potential to transform this building into a mix of new residential units. Plans include two one-bedroom apartments, three two-bedroom units, and one three-bedroom apartment on the fourth and fifth floors, all designed to accommodate modern living with the option for lift access. There is also room for additional development, including the possibility of creating duplex apartments, which could further increase the property's value. The estimated gross development value (GDV) stands at approximately £1.85 million, with rental incomes projected around £108,000 per annum. The Community Infrastructure Levy (CIL) is estimated to be around £35,000, providing clarity on associated costs as you consider this venture. Located in a desirable area close to local amenities and transport links, this property not only offers immediate development potential but positions itself well for growth in an evolving market. With careful planning and execution, this could prove to be a lucrative investment opportunity in a thriving community.