Student facility with planning consent to develop

  • £1,600,000
Cheltenham
Sold

Student facility with planning consent to develop

Cheltenham
  • £1,600,000

Overview

  • Commercial to Residential, Development
  • Property Type

Description

35 room student facility with planning consent implemented to develop an additional 38 rooms.

Located within 2 miles of Cheltenham Town Centre and in close proximity to the Cheltenham Spa train station.

 Potential for a variety of uses subject to the necessary consents being

obtained.

 High quality accommodation with each room benefiting from ensuite

shower rooms.

 Situated within a secure site with gated access.

The asking price for this is 2.25M, but could get a deal at around 1.6M.

The GDV of this development is circa £4.164M with 2 bed flats selling for circa 150k and 1 beds for circa 110k.

The total GIA of the existing phase 1 building is 10,500 sq/ft and phase 2 would also be 10,500 sq/ft. it would be one for an investor to to do the conversion from Phase 1 cost effectively and the new-build at circa £1.5M to make this deal stack up.

  • City Cheltenham

Details

Updated on September 19, 2021 at 12:24 pm
  • Price: £1,600,000
  • Property Type: Commercial to Residential, Development
  • Property Status: Sold

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What's Nearby?

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Education
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Health & Medical
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Corinthian Surgery (0.94 mi)
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Transportation
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Average 3 reviews
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Contact Information

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Colin Carter
  • Colin Carter

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Colin Carter
  • Colin Carter