*Guide | £350,000 - £400,000 (plus fees)
- Land
- Tenure: Freehold
Call the team on 01908 030127 for more information
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).
Tenure
Freehold
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.
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Buyer's Premium - The purchaser will be required to pay a buyers premium charge of £3,000 (£2,500 plus VAT)
Administration Charge - The purchaser will be required to pay an administration charge of £1,140 (£950 plus VAT).
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
