Residental Development Opportunity - Freehold Investment - Doncaster: Price: Asking Price Of £450,000 For Sale

A1 - High Street, A1 - Centre, Refurbishment Opportunities, Residential Conversions, Residential, Commercial

  • Residental Development Opportunity - Freehold Investment - Doncaster
  • Residental Development Opportunity - Freehold Investment - Doncaster
  • Residental Development Opportunity - Freehold Investment - Doncaster
  • Residental Development Opportunity - Freehold Investment - Doncaster
  • Residental Development Opportunity - Freehold Investment - Doncaster

Full Details:


A development / investment opportunity for 9 apartments and the ground floor retail space with income potential estimated around £27,500 per annum if let. Full planning has been granted for six 1 bedroom and three 2 bedroom apartments and all documents are available on request. Centrally located in the heart of Doncaster, the exterior of the property has been re-pointed and all windows have been replaced, the roof has been overhauled and the first and second floors have been cleared and are ready to build out the internal space. Approximately 10,000 Sq foot of space across the 4 floors including basement.

LOCATION
Doncaster is a large market town in South Yorkshire. Doncaster and its surrounding suburbs form part of the Metropolitan Borough of Doncaster, which had an estimated population of 304,185 in 2014. The town itself has a population of 109,805.Doncaster is about 20 miles from Sheffield, with which it is served jointly by an international airport, Robin Hood Airport. Doncaster is directly accessed from the A1 Motorway near Blyth. Sheffield lies to the South West via the M18 and is approximately 23 miles whilst Leeds to the North West via the A1 and M62 is approximately 33 miles.

DESCRIPTION
The Property is a 3 storey mid terrace property of brick and stone construction. the roof is part flat and part pitched in the middle and has recently been renovated by the current owner, all windows to the front and rear have been replaced and the external brick work has been re pointed. The ground floor and basement was previously let to a polish supermarket operator, leaving the first and second floor space for development, there is side access to allow for serviceability to the shop and basement access and also providing access to the upper floors. The upper floors were previously used as office and retail space and could be again if any interested parties required the space for this usage.

ACCOMMODATION
The proposed planning at present allows for 4 x 1 bedroom apartments and 1 x 2 bedroom apartment on the first floor all with kitchen, living rooms and bathrooms, whilst on the second floor offers 2 x 1 bedroom and 2 x 2 bedroom apartments all including kitchen, living rooms and bathrooms. The total area over the first and second floor is approximately 5400 SQ FT. With circa 5185 sq ft over the ground floor and basement areas.

AMENITIES
Situated in the centre of town, and having full access to a range of amenities including retail and food retailers.

SERVICES
We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

TERMS
The Upper floors will be available on a long leasehold basis. Our client would consider splitting the space offering the upper floors on a 999 year long lease and selling the investment separately. Please contact to discuss these options.

OUTGOINGS
The property will require re rating now the planning has been received for the first and second floors, however it is understood that the current rates for the upper floors only is £4,000 per annum. The ground floor rateable value is in the region of £36,000 per annum.

VAT
Vat will be chargeable unless a VAT 1614d option certificate is signed to exempt the VAT where residential conversion are taking place. Note if the upper floors were to trade in a commercial capacity in the future then the VAT payment would arise.

LEGAL COSTS
Both Parties will be responsible for their own legal costs.

PARKING NOTES
No Parking space available with the property. However there is a drop off point to the rear for all tenants and deliveries.

PLANNING
Full planning permission is granted for the development of 9 apartments on the first and second floors, all information is available via email upon request or can be accessed from the local authority website.

OTHER
Finance may be available through Independent Financial Brokers and Moores Commercial would be please to make an introduction for you. The Brokers are completely Independent of Moores Commercial and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details

VIEWING
Viewing is strictly by prior appointment via the sole agents Moores Commercial Tel: 01664 431330 or via email office@moorescommercial.com