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14 bed property, in Maltese Road, £1,400,000
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14 bed detached house

Maltese Road, Chelmsford, CM1
Planning
£1,400,000

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Our Summary

  • Development potential with lapsed planning consent
  • In addition to its established income profile, the property benefits from a compelling planning history including approval for conversion into 9 apartments and an earlier approval for the erection of 8 apartments, creating a unique blend of immediate income and future development potential
  • 16 Acre Site 9 Allocated Parking Spaces Walking Distance to Chelmsford Station Walking Distance to Anglia Ruskin University Historic Planning Consent for erection of Apartments and for conversion to Apartments Historic Planning Approval for Conversion into 9 Apartments Potential Future GDV Exceeding £3 Million Subject to Planning Multiple Exit Strategies The property offers investors a unique opportunity to generate income whilst controlling a site with genuine medium-term redevelopment prospects
  • Planning Ref
  • Comparable two-bedroom apartments are currently being marketed between approximately £365,000 and £400,000 Based on current market evidence, a future mixed apartment scheme could potentially support a Gross Development Value exceeding £3 million, subject to planning and specification
  • Development Potential Tomorrow

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Description

The property is a substantial detached Victorian house occupying a 0.16 acre site in a prime city location, with 14 bedrooms and generating approximately £120,000 gross annual income. The property is approximately 3,480 sq ft in size, includes 9 allocated parking spaces, and is located within walking distance of Chelmsford Railway Station, Anglia Ruskin University, and the city centre. It has historic planning consent for conversion into 9 apartments and for the erection of a further 8 apartments, providing a unique blend of immediate income and future development potential.