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North Hill, Colchester, CO1 12 bed block of apartments for sale
North Hill, Colchester, CO1
£750,000
North Hill, Colchester, CO1
£750,000
Our Summary
- A fantastic, rare investment opportunity has arisen to within this beautiful Grade II listed building set on this sought after street in the centre of Colchester's vibrant City Centre, which is currently being used as one large office space however is being offered for sale with FULL PLANNING PERMISSION for conversion into a 12 bedroom, 7 bathroom HMO
- Full information on this application can be found on Colchester BC's planning portal using reference number 241368
- Furthermore the property benefits from lapsed planning consent for the conversion into a total of 5 residential apartments, in our opinion this could easily be granted again if desired
- Information on this application can be found Colchester BC's planning portal using reference number 151528
- FULL PLANNING PERMISSION TO CONVERT INTO 12 ROOM HMO
- Fantastic Investment Opportunity
- Full planning permission to convert into 12 room hmo
- Lapsed Planning Permission To Convert Into 5 Residential Apartments
Description
This rare investment opportunity presents a beautiful Grade II listed building in the heart of Colchester's city centre, currently used as a single office space, but with full planning permission to convert it into a 12-bedroom, 7-bathroom HMO. The approved application, referenced 241368, allows for a simple conversion, with a projected income of £10,500 per month. The property also features a secure car park with 14 spaces, which could generate additional income. The current tenants will vacate in March 2025, and the property has lapsed planning consent for conversion into five residential apartments, which could be re-granted if desired. This is a unique chance to capitalize on the growing demand for HMOs in Colchester, with potential for a significant return on investment.