329 Linthorpe Road
Middlesbrough
TS5 6AA
GRANGE ROAD, MIDDLESBROUGH
Offers in the region of £495,000
21 Bedroom House - End Terrace
- A prime location netled next to the central shopping district, the rejuvenated 'Captain Cooks Square' as well as the University of Teesside, Bus Station and Train Station
- Massive potential to capitalise on the strong 'Student Let Market' by creating potentially flagship accommodation
- There is a large demand for self enclosed student apartments and studios, with a current far lower supply
- A manageable project for an experienced developer -
- THERE IS IN EXCESS OF £50,000 OF 'NUTRIENT CREDITS' INCLUDED IN THE ASKING PRICE, NOT ONLY SAVING A DEVELOPER MONEY BUT ALSO TIME
- ** THIS IS ONE HALF OF A LARGER WHOLESALE OPPORTUNITY WHICH CAN BE SOLD IN TWO HALVES OR AS A WHOLE INVESTMENT WHICH YIELDS 39 APARTMENTS- CONTACT PROGRESSION PROPERTY FOR MORE INFORMATION **
PLANNING PERMISSION IS FULLY PASSED ON THIS PRIME STUDENT ACCOMMODATION DEVELOPMENT OPPORTUNITY WHICH IS LOCATED IN A PRIME POSITION CLOSE TO BOTH LINTHORPE ROAD AND BOROUGH ROAD, WITH THE UNIVERSTY OF TEESSIDE A MATTER OF FIVE MINUTES WALK AWAY AS IS THE CENTRAL SHOPPING DISTRICT. THE SCHEME AT HAND IS FOR THE CREATION OF 21 STUDENT STUDIOS SPREAD ACROSS A TOTAL OF FOUR FLOORS (INCLUDING BASEMENT LEVEL) WITH ADDITIONAL 'SHARED AREAS'. THE SIZE OF THE APARTMENTS RANGE IN SIZE HOWEVER WILL BE COMPETITIVELY PLACED TO THEREFORE BE COMPETING WITH OR EXCEEDING THE SIZE OF THE VAST MAJORITY OF STUDENT ACCOMMODATION IN MIDDLESBROUGH. EXPECTED GROSS INCOME ON COMPLETION OF THE SCHEME AND RESULTING 100% OCCUPANCY IS CIRCA £140,000 - 190,000 PER ANNUM DEPENDING ON SPECIFICATION ETC (STUDENT APARTMENT / STUDIO COMPARABLES AVAILABLE TO SUBSTANTIATE THIS LEVEL OF RENTAL INCOME). AN EXPECTED G.D.V. BASED ON THE INCOME OF IN THE REGION OF £1.4M - £1.9M. FURTHER INFORMATION IS AVAILABLE ON REQUEST.
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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