This property presents a significant renovation and investment opportunity, set to be auctioned online on 26th September 2024. Interested bidders are required to register in advance to participate.
The site has been the subject of a comprehensive feasibility study conducted by the vendor, which indicates the potential to develop a six-storey residential scheme that could accommodate up to 60 flats, contingent upon securing the necessary planning approvals. This prospect for substantial development positions the property as an attractive option for investors looking to capitalize on the growing demand for housing in the area.
The location itself offers several advantages that enhance its appeal. It benefits from proximity to essential amenities, including public transport links, schools, and retail options, making it an attractive choice for future residents. This accessibility not only supports residential development but also suggests a strong rental market potential.
In addition to the development possibilities, it is important for prospective buyers to examine the accompanying documentation carefully. The legal pack will provide detailed information concerning tenure and any associated fees or obligations that may arise during or after purchase.
Please note that while visuals and indicative accommodation schedules are provided for reference, they are intended solely as guides. The final design and layout will depend on regulatory approval processes, so thorough due diligence is advised prior to bidding.
As this property moves toward auction day, it remains crucial for interested parties to prepare by reviewing relevant documents and conducting their own assessments regarding planning permissions and building regulations. Overall, this opportunity stands out as a potential catalyst for both immediate returns in terms of rental income and long-term capital growth through redevelopment.
