A superb opportunity to complete the conversion of a substantial former warehouse premises into 12 self-contained apartments (2 x one-bedroom apartments and 10 x studio apartments). The new facade to the building, roof, internal walls and windows have been installed and the project now requires completing in order to create a superb development of apartments. With a potential rental income for the completed building in excess of £130,000 per annum and a GDV of circa £1,800,000, this is an ideal opportunity for builders and developers.
DESCRIPTION -
A superb opportunity to complete the conversion of a substantial former warehouse premises into 12 self-contained apartments (2 x one-bedroom apartments and 10 x studio apartments). The new facade to the building, roof, internal walls and windows have been installed and the project now requires completing in order to create a superb development of apartments. With a potential rental income for the completed building in excess of £130,000 per annum and a GDV of circa £1,800,000, this is an ideal opportunity for builders and developers.
LOCATION -
The property is located to the rear of 424 Soundwell Road with access from Lodge Road in Kingswood. Easy access is provided to a wide range of local amenities on Kingswood High Street and Cossham Hospital. With the A420, Ring Rd and Bath Road nearby, access to Bristol City Centre (4 Miles) and Bath (12.5 miles) is highly convenient and ideal for commuters.
SCHEDULE OF ACCOMMODATION -
APARTMENT 1: Ground floor one-bedroom apartment - 50.5 m²
APARTMENT 2: Ground floor studio apartment - 43.7 m²
APARTMENT 3: Ground floor studio apartment - 45.1 m²
APARTMENT 4: Ground floor studio apartment - 35.7 m²
APARTMENT 5: Ground floor studio apartment - 37.7 m²
APARTMENT 6: Ground floor studio apartment - 43.4 m²
APARTMENT 7: First floor one-bedroom apartment - 50.5 m²
APARTMENT 8: First floor studio apartment - 41.9 m²
APARTMENT 9: First floor studio apartment - 52.4 m²
APARTMENT 10: First floor studio apartment - 33.6 m²
APARTMENT 11: First floor studio apartment - 35.5 m²
APARTMENT 12: First floor studio apartment - 43.4 m²
PLANNING -
Prior Approval was granted on 30 September 2020 for the conversion of the former warehouse under Application No. 20/03490/COU.
RESALE & RENTAL VALUES -
We anticipate a potential rental income for the finished development in the region of £130,000 per annum and a GDV of circa £1,800,000.
SERVICES/ULILITIES -
We understand from our clients that a 3-phase electricity supply has been installed in the pavement on Lodge Road ready for connection along the access lane to the property. The water supply has not yet been connected but a quote of £5,276.40 was previously obtained.
TENURE -
The property is for sale on a freehold basis.
LOCAL AUTHORITY -
Bristol City Council.
VIEWINGS -
Strictly by appointment with Maggs & Allen.
