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Stevenage, SG1
- PROPERTY TYPE
Land
- BATHROOMS
1
- SIZE
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Key features
- ATTENTION: BUILDERS / DEVELOPERS / INVESTORS / LANDLORDS
- LOOKING FOR YOUR NEXT PROPERTY DEVELOPMENT / INVESTMENT?
- SUB-DIVIDE / CONVERT AN EXISTING HOUSE PROJECT
- SPLIT AN EXISTING HOUSE, TO CREATE 3 DISTINCT SEPARATE PROPERTIES
- 1 x 1 BED GROUND FLOOR 'GARDEN MAISONETTE' AND 2 x 2 BED TRIPLEX CLUSTER HOUSES
- EACH WITH ITS OWN TITLE, 999 YEAR 'VIRTUAL F/H' LEASE, 1/3 SHARE OF THE F/H
- REQUIRES REAR DORMER LOFT CONVERSION AND SINGLE-STOREY SIDE / REAR EXTN 38m2
- FULL PLANNING PERMISSION APPROVAL GRANTED BY STEVENAGE BOROUGH COUNCIL
- UNIQUE SCHEME, INGENIOUSLY DESIGNED; EXCELLENT OPPORTUNITY; RARE AVAILABILITY
- GREAT RETURN ON INVESTMENT; WORTHWHILE INVESTMENT FINANCIALLY; LOW RISK
Description
GUIDE PRICE £400,000-£450,000..... GDV £800,000, GROSS PROFIT £200,000, GROSS PROFIT MARGIN 25%, GROSS [COMBINED] MONTHLY RENT £4,250, GROSS [COMBINED] ANNUAL RENT £51,000, GROSS [COMBINED] RENTAL YIELD 8.5%..... SUB-DIVISION / CONVERSION PROJECT: SPLIT AN EXISTING HOUSE, TO CREATE 3 DISTINCT SEPARATE PROPERTIES...... 1 x 1 BED GROUND FLOOR 'GARDEN MAISONETTE' (42.5m2) AND 2 x 2 BED TRIPLEX CLUSTER HOUSES (48.3m2 EACH)..... SOLID FINANCIALS WITH LOW RISK
Key [Anticipated] Financial Figures:
£800,000 GDV / [Combined] Value Once Completed: £250,000 x 1 and £275,000 x 2
Gross Profit £200,000
Gross Profit Margin 25%
Gross [Combined] Monthly Rent £4,250
Gross [Combined] Annual Rent £51,000
Gross [Combined] Rental Yield 8.5%
Strong both Sales and Lettings Return on Investment
Other Important Financial Information:
CIL Fee £2,100
No Restrictive Covenant Fee
No Section 106 Fee
No Section 184 Fee
Minor Demolition Pre-Works
No Build Over Agreement Required
Party Wall Agreement Required Only One Side
Proposed Scheme Details:
1 x 1 [Double] Bed Ground Floor 'Garden Maisonette', 42.5m2
2 x 2 [Double] Bed Triplex Cluster Houses, 48.3m2 each
All 'Virtual Freehold' with 999 Year Lease Terms
Leasehold with 1/3 Share of the Freehold
No Internal Communal Areas
No Monthly Service Charges
No Ground Rents
Proposed Internal & External Details - 1 x 1 Bed Ground Floor 'Garden Maisonette'
Own Private Entrance / 'Front' Door
Ground Floor: Entrance Hall, Lounge-Diner and Kitchen, Double Bedroom, Bathroom
Bi-Fold / Concertina Doors to Rear Garden
Private Enclosed Rear Garden, 39m2 Size with Patio Area and Turfed Lawn
Rear Garden Not Overlooked by the Triplex Cluster Houses
Proposed Internal & External Details - 2 x 2 Bed Triplex Cluster Houses:
Own Private Entrances / 'Front' Doors
Ground Floors: Lounge-Diners and Kitchens
First Floors: Double Bedrooms No.s 1, Bathrooms
Second Floors (Lofts): Bedrooms No.s 2 with potential for En-Suites or Shower Cubicles
1 Side-By-Side Parking Space Each
Location:
SG1, Stevenage - The Old Town Area
Highly Desirable Area / Much Sought After Location
Nicely Positioned in the Street
Lovely Neighbours
Good Transport Links
Local Amenities:
5 Minutes Drive to the Town Centre (and Train Station) / The High Street
10 Minutes Walk to the Town Centre (and Train Station) / The High Street
Convenience Store and Takeaways Close By
King George's Park
Bus Stops: Hourly To / From Stevenage Town Centre (and Train Station) / The High Street
Envisaged Exit Strategy:
Rare Availability
Anticipated Quick Re-Sale / Easy Re-Finance and Let
Ground Floor 'Garden Maisonette' of Particular Appeal to: Retirees, Down-Sizers, Single Occupants, Pet Owners, Disabled Access Required
Triplex Cluster Houses of Particular Appeal to: First Time Buyers, Young Couples; Single Occupants, Commuters, Tenants
Plentiful Sales / Lettings Comparables Available for the 3 Proposed Units (Two Different Property Styles), Proving the Anticipated GDV
General Summary:
Unique Scheme, Ingeniously Designed
Straightforward & Uncomplicated Build
No Hidden Fees or Charges
Simple and Achievable Exit Strategy Options
Worthwhile Investment Financially: Solid Financials with Low Risk
Agent's Notes:
1.
All information in this listing relating to this property contained has been supplied to us by the Vendor;
2.
The Vendor - an expert in obtaining Planning Gain - is Open, Honest, and Helpful;
3.
Standard Sale / Purchase only, the Vendor will not entertain any Joint Venture / Lease Option offers;
Further Information / Contact:
Please call Alan Hilditch, Director, at Satchells (Baldock Office) to discuss or request further information
Stevenage, SG1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Stevenage Station0.0 miles
- Knebworth Station2.5 miles
- Hitchin Station4.3 miles
About the agent
Satchells is an independent family run Estate Agents with third generation directors, we hold traditional family values dear.
For 100 years we have been supporting and advising our clients from their initial point of contact with us, through to completing on their purchase or rental.
We remain independent and pride ourselves on delivering a high level of personal service and building strong relationships with our clients to help them achieve the be
Industry affiliations
![National Association of Estate Agents](https://media.rightmove.co.uk/dir/customer/industry-affiliation/national-association-of-estate-agents_max_135x100.png)
![Ombudsman for REsale Estate Agents (no OFT logo)](https://media.rightmove.co.uk/dir/customer/industry-affiliation/ombudsman-for-resale-estate-agent_max_135x100.png)
![Association of Residential Letting Agents](https://media.rightmove.co.uk/dir/customer/industry-affiliation/association-of-residential-lettings-agent_max_135x100.png)
Notes
Disclaimer - Property reference 27994645. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Satchells Estate Agents, Baldock. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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