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13 bedroom house of multiple occupation 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 permission soon to be granted for conversion into a 13 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
Description
This Grade II listed building in Colchester's city centre offers a rare investment opportunity, with planning permission soon to be granted to convert the property into a 13-bedroom, 7-bathroom HMO. The property currently operates as a single office space, let at £50,000 per annum, but has the potential to generate a significant income as a HMO, with a projected monthly income of £10,500. The property also benefits from a secure car park with 14 spaces, which could generate additional income or increase the monthly income for individual rooms. Additionally, there is lapsed planning consent for the conversion into five residential apartments, which could be revived if desired. This is a unique opportunity for investors to capitalize on the growing demand for HMOs in the area.