Land for sale

OF INTEREST TO BUILDERS / DEVELOPERS / INVESTORS.ORIGINAL HOUSE FOR SUB-DIVISION / CONVERSION INTO 4 FLATS PROJECT.PLANNING PERMISSION GRANTED TO CREATE 4 x 1 BEDROOM FLATS.

An original mid-terraced house located in the well established, ever popular, and really quiet area of Longmeadow 'B', conveniently close to numerous local amenities including the pub / restaurant; the mini-supermarket; various takeaways; the doctor's surgery, the pharmacy, and Shephalbury Park. The property benefits from the granting by Stevenage Borough Council on 30 January 2023 under Application Ref. 22/00343/FP of full planning permission approval for its sub-division / conversion into 4 x 1 bedroom flats (2 x 1 bedroom ground floor garden flats and 2 x 1 bedroom first floor flats) following extension works.

* The Longmeadow 'B' sub-estate (part of the larger area of Broadwater) located on the North Western side of Oaks Cross, was built to house the local government officers relocating from around the country to work for the what was then the Stevenage New Town Development Corporation (what is now Stevenage Borough Council). And as a result of so many of its properties having been purchased by those residents under the Right To Buy Scheme, it is widely believed to have by some considerable distance the highest proportion of owner-occupancy of any council estate or sub-estate within Stevenage. *

£890,000 Anticipated Gross Development Value of the whole scheme once completed

£250,000 value for each of the 2 Ground Floor Garden Flats (if sold 'Virtual Freehold', with a 999 Year Lease, plus a one quarter Share of Freehold)

£195,000 value for each of the 2 First Floor Flats (if sold 'Virtual Freehold', with a 999 Year Lease, plus a one quarter Share of Freehold)

£3,800-£4,200 PCM Anticipated Gross Rental Income of the whole scheme once completed

£1,000-£1,200 PCM for each of the 2 Ground Floor Garden Flats

£900-£1,000 PCM for each of the 2 First Floor Flats

Appropriate sound both sales and rental comparables available upon request

Easy sales once completed to Down-Sizers, Single Occupants, and [especially in the case of the Ground Floor Garden Flats] Pet Owners, or those requiring Disabled Access

This is a fantastic low-cost but comparatively good return small residential property development project, interest in it is expected to be substantial, and it is envisaged that it will sell quickly, so serious buyers are advised to act swiftly so as to not lose out!

*Of interest to Builders / Developers / Investors

*Original Mid-Terraced House for Sub-Division / Conversion into 4 Flats Project

*Following Construction of Single-Storey Front Extension (10m2) and Two-Storey Rear Extension (73m2)

*Full Planning Permission Approval Granted by Stevenage Borough Council on 30 January 2023

*Planning Application Ref. 22/00343/FP

*2 x 1 Bedroom Ground Floor Garden Flats and 2 x 1 Bedroom First Floor Flats

*Very Well Designed Internal and External Layouts

*All Flats have Double Bedrooms

*Ground Floor Flats each have Large Rear Gardens, with Patio Areas and Rear Access

*Ground Floor Flats each have 1 Allocated / Designated Off-Street Vehicle Parking Space

*No Prior Demolition Works Required

*No Build Over Agreement Required

*No Restrictive Covenant Fees

*No Section 106 Fees

*Community Infrastructure Levy (CIL) only £8,300 at 83m2 x £100 per m2

*Established Neighbourhood

*Close to Numerous Local Amenities

*Bus Stop to / from the Town Centre every 15 minutes

*Anticipated Gross Profit on Anticipated GDV 20% minimum

*Freehold

Please exclusively call Alan Hilditch, Director, at Satchells (Baldock Office) to discuss or request further details.

Agent's Note: All information relating to this property has been supplied to us by the vendor.