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8 bed property, in Suffolk Road, £500,000
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8 bed flat

Suffolk Road, Bournemouth BH2
Auction Planning
£500,000

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Our Summary

  • Development potential to create six flats (STPP)
  • Income | Development Potential (STPP) A fantastic opportunity to acquire a well-maintained freehold block of four flats in a prime central Bournemouth location, offering immediate income and excellent scope to add value
  • Development Potential (Subject to Planning Permission) Plans and drawings indicate potential to reconfigure into six flats, comprising: 4 x One-Bedroom Flats Estimated Rental: £4,000 pcm combined Estimated Sale Value: £120,000 each 1 x Two-Bedroom Flat Estimated Rental: £1,200 pcm Estimated Sale Value: £165,000 1 x Three-Bedroom Flat Estimated Rental: £1,250 pcm Estimated Sale Value: £200,000 Projected Income: £77,400 per annum Estimated GDV: £845,000 Drawings are available to view
  • All development potential is subject to obtaining the necessary planning consents
  • Additional Features Off-road parking for three vehicles Private rear gardens Central town location Strong rental demand area Excellent capital growth prospects This is an exciting opportunity for investors seeking a high-yield buy-to-let with asset management potential, or developers looking to unlock further value in a sought-after coastal location
  • **Auction Details** The property will be entered into our upcoming online (conditional) auction

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Description

The property is a well-maintained freehold block of four flats in central Bournemouth, offering strong tenant demand and long-term growth potential. The current accommodation includes a three-bedroom flat on the second floor, let at £1,250 pcm, a three-bedroom flat on the first floor, let at £1,250 pcm, a one-bedroom garden flat on the ground floor, let at £1,000 pcm, and an additional one-bedroom flat, let at £1,000 pcm. All flats are in good internal condition, with tenants occupying under standard AST agreements and all compliance certificates available.

The property benefits from off-road parking, private rear gardens, and a central town location with excellent capital growth prospects.