Spring Drive, Stevenage
- PROPERTY TYPE
Residential Development
- SIZE
3,099 sq ft
288 sq m
Description
GUIDE PRICE: £350,000 TO £400,000
A fantastic development opportunity to purchase a row of garages with Full planning permission to demolish and erect two, three-bedroomed properties and one, two-bedroom property. The new houses are spacious, divided over three floors offering an open plan kitchen/diner, lounge and off-road parking with gardens to the rear. The two-bedroom end terrace property measures 86.5 square meters and the three-bed houses measure 101 square meters. We estimate the GDV to be £1,200,000 (20% profit will generate £240,000).
Garage Block - Stevenage Borough Council - Planning Application Reference 24/00376/RM. The application for approval of reserved matters (access appearance landscaping layout and scale) for residential development of two No. 3 bed and one No. 2 bed dwellings to outline permission. Application Reference 22/00487/OP.
Full Planing Permission - This site has been granted Full planning permission for a two-bedroom end terrace property measuring 86.5 square meters and two, three-bedroom properties measuring 101 square meters. Please refer to the landscape plans to see off-road parking for two vehicles for the middle property and the property to the left and three parking spaces for the property on the right.
Calculations - The GDV is estimated at £1,200,000, this is derived from recent sales on two new sites, one located to the south of Hertford Road off Stirling Close and the other next to the Odyssey Health Club. Our calculations to generate 20% profit (£243,000) include build costs estimated at £180 per square foot.
Location - Spring Drive is located to the south of Shephalbury Park off Broadwater Crescent behind the Knebworth and Marymead Medical Practice and the comparable evidence has been taken from a number of new developments, one at Stirling Close off Hertford Road which has now been completed and fully sold and another next to the Odyssey Health Club where there are a number of new builds off Stevenage Road.
Price Information - *Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide. Additional Fees and Disbursements will charged to the buyer - see individual property details and Special Conditions of Sale for actual figures.
Buyers Administration Charge - The purchaser will be required to pay an administration charge of £1,140 (£950 plus VAT).
Buyers Premium Charge - The purchaser will be required to pay a buyers premium charge of £3,000 (£2,500 plus VAT)
Doing07082024/9937 -
Brochures
Spring Drive, StevenageBrochureSpring Drive, Stevenage
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Knebworth Station1.0 miles
- Stevenage Station1.9 miles
- Watton-at-Stone Station3.0 miles
About the agent
Auction House Beds & Bucks, covering Bedfordshire & Buckinghamshire
9 Westleigh Office Park Scirocco Close Moulton Northampton NN3 6BW
Auction House Beds & Bucks operates across the counties of Bedfordshire, Buckinghamshire and Hertfordshire. This central office includes coverage of Bedford, Milton Keynes, High Wycombe, Aylesbury, Amersham, Marlow, Olney, Beaconsfield Winslow and Gerrards Cross.
Auction House Beds & Bucks is run by the long-established and privately owned practice of Richard Greener Estate Agents and the name Richard Greener has become synonymous with high-quality service at every stage of the house-se
Notes
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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House Beds & Bucks, covering Bedfordshire & Buckinghamshire on 01908 030127.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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