Land for Sale in SOUTHPORT, Merseyside

Residential Development Land for sale SOUTHPORT

Residential Development Land for Sale in SOUTHPORT

Guide Price: 260,000


Land Type: Residential Development

Planning Permission: Existing Residential Use

Land Designation: PlanningUse

Seller Last Active: Within the last 30 months

Summary: AN EXISTING AND ESTABLISHED FLATTED DEVELOPMENT WITH EXPANSION The price offered enables the purchaser to complete their refurbishment works (estimated at 40000) when a final payment of 80000 would be payable to the vendor to total 340000

Additional Information: Situated close to Southport's Classic Lord Street this established large Victorian property has been undergoing a programme of improvements. It consists of 5 spacious self contained flats -one single bedroom and four 2 bedroom, together with a small studio flat. The intention is to replace the studio flat with a new-build 3 bedroom bungalow extension to the rear into the large gardens- planning permission is pending in this. The existing studio flat would then cease to exist or could be used as an office or other. Some works of improvement/expansion are still needed, and the vendor could 'build this into the price' along with a good price offered to build the extension -as highest grade A1 NHBC Registerd Developer. Also a period of ongoing management could be offered as part of any deal. The projected average resale figures are for the sale of the 5 flats-- 450000-00 and the bungalow 140000-00. DEVELOPERS TO NOTE THAT SINCE A MAJOR UK GAS FRACKING SCHEME IS ABOUT TO 'LAUNCH' IIN THE LOCALITY, SOUTHPORT (PENDING 'GOLD TOWN' !) IS ALREADY EXPERIENCING INWARD INVESTMENT AS A RESULT, WITH NEW HOTELS BEING ERECTED ETC. Gross rentals on the improved flats would be approx 35000 per annum

Directions: The property is at 38 Duke Street Southport PR8 IJA- One of Southport's longest roads with a variety of of properties and flats thererin and so doing onsite comparible search valuations for similar properties could prove confusing- for example/information, the next door property at 36 Duke Street was owned outrightby the proprietor last year, who obtained a remortgage on it for approx 160000- this now incorrectly shows up as a selling price of 160000, when in fact the value is 450000-00

Features Include:

  • Vehicular Right of Access to Site
  • Pedestrian Right of Access to Site
  • Buildings on Site
  • Water Supplied to Site
  • Electricity Supplied to Site
  • Gas Supplied to Site

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These particulars have been produced in good faith but total accuracy cannot be guaranteed. Sizes are approximate. Purchasers should verify availability and any detail of importance prior to viewing and purchase. These particulars are not an offer or contract.