Stevenage, SG2

GUIDE PRICE £400,000-£450,000..... GDV £890,000, GROSS PROFIT £200,000, GROSS PROFIT MARGIN 22.5%, GROSS [COMBINED] MONTHLY RENT £4,700, GROSS [COMBINED] ANNUAL RENT £56,400, GROSS [COMBINED] RENTAL YIELD 9.4%..... SUB-DIVISION / CONVERSION PROJECT: SPLIT AN EXISTING HOUSE, TO CREATE 4 DISTINCT SEPARATE PROPERTIES...... 2 x 1 BED GROUND FLOOR 'GARDEN FLATS' (41.6m2 / 38.8m2) AND 2 x 1 BED FIRST FLOOR FLATS (37.2m2 EACH)..... SOLID FINANCIALS WITH LOW RISK

Key [Anticipated] Financial Figures

£890,000 GDV / [Combined] Value Once Completed: £250,000 x 2 and £195,000 x 2
Gross Profit £200,000
Gross Profit Margin 22.5%
Gross [Combined] Monthly Rent £4,700
Gross [Combined] Annual Rent £56,400
Gross [Combined] Rental Yield 9.4%
Strong both Sales and Lettings Return on Investment

Other Important Financial Information

CIL Fee £8,300
No Restrictive Covenant Fee
No Section 106 Fee
Section 184 Fee Agreed
No Demolition Pre-Works
No Build Over Agreement Required
Party Wall Agreement Required Only One Side

Proposed Scheme Details

2 x 1 [Double] Bed Ground Floor 'Garden Flats', 41.6m2 / 38.8m2
2 x 1 [Double] Bed First Floor Flats, 37.2m2 each
All 'Virtual Freehold' with 999 Year Lease Terms
Leasehold with 1/4 Share of the Freehold
Only Communal Area Small Internal Entrance Hall Area
No Monthly Service Charges
No Ground Rents

Proposed Internal Details - 2 x 1 Bed Ground Floor 'Garden Flats'

Communal External Main Entrance Door with Own Internal Front Door
Ground Floors: Lounge-Kitchen-Diners, Double Bedrooms, Bathrooms

Proposed External Details - 2 x 1 Bed Ground Floor 'Garden Flats'

Bi-Fold / Concertina Doors to Rear Gardens
Private Enclosed Rear Gardens, 43.6m2 / 47.6m2 with Patio Areas and Turfed Lawns
Paved Footpath to Back Access
Back Access to Rear Gardens with Lockable Gate
1 Side-By-Side Parking Space Each

Proposed Internal Details - 2 x 1 Bed First Floor Flats

Communal External Main Entrance Door with Own Internal Front Door
First Floors: Lounge-Kitchen-Diners, Double Bedrooms, Bathrooms

Location

SG2, Stevenage - Longmeadow 'B'
Highly Desirable Area / Much Sought After Location
Nicely Positioned in the Street
Lovely Neighbours
Good Transport Links

Local Amenities

5 Minutes Drive to the Town Centre (and Train Station)
30 Minutes Walk to the Town Centre (and Train Station)
Pub-Restaurant, Cafe, Takeaways, and Convenience Store with Sub Post Office 'Around the Corner'
Shephalbury Park
Bus Stops: Half Hourly To / From Stevenage Town Centre (and Train Station)

Envisaged Exit Strategy

Rare Availability
Anticipated Quick Re-Sale / Easy Re-Finance and Let
Ground Floor 'Garden Flats' of Particular Appeal to: Retirees, Down-Sizers, Single Occupants, Pet Owners, Disabled Access Required
First Floor Flats of Particular Appeal to: First Time Buyers, Young Couples; Single Occupants, Commuters, Tenants
Plentiful Sales / Lettings Comparables Available for the 4 Proposed Units (Two Different Property Styles), Proving the Anticipated GDV

General Summary

Unique Scheme, Ingeniously Designed
Straightforward & Uncomplicated Build
No Hidden Fees or Charges
Simple and Achievable Exit Strategy Options
Worthwhile Investment Financially: Solid Financials with Low Risk

Agent's Notes

1.
All information in this listing relating to this property contained has been supplied to us by the Vendor;

2.
The Vendor - an expert in obtaining Planning Gain - is Open, Honest, and Helpful;

3.
Standard Sale / Purchase only, the Vendor will not entertain any Joint Venture / Lease Option offers;

Further Information / Contact

Please call Alan Hilditch, Director, at Satchells (Baldock Office) to discuss or request further information