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Block of apartments for sale
130-148A The Marlowes & Flats 1-8 ,11-18, 18a - 18g, The Square, Hemel Hempstead HP1 1ER
£875,000
130-148A The Marlowes & Flats 1-8 ,11-18, 18a - 18g, The Square, Hemel Hempstead HP1 1ER
£875,000
Our Summary
- Auction Sale - 17/06/2025
- Planning permission granted for an additional 4 x 1 bedroom flats
- Outline planning applied for a further 8 flats
- Investment with development potential (subject to requisite consents), well located for the amenities of Hemel Hempstead
- Comprising 8 x 1 bedroom flats let on AST's, 16 sold off on leases with various unexpired terms, planning permission granted for 4x 1 bedroom flats and outline planning permission for a further 8 x 1 bedroom flats (subject to requisite consents)
- Planning ( Ref : 22/00144/FUL) permission was granted by Dacorum Borough Council on 20th April 2023 for the construction of a three-storey side extension to create 3x1 bed flats
- Planning (Ref : 23/01034/FUL) permission was granted by Dacorum Borough Council on 19th March 2024 for the construction of an extension and conversion of the external amenity area, with associated alterations to the building, to create a 1-bed flat
- Proposed Planning (Ref : 25/01208/OUT) for the addition of a single storey to create 8 x 1 bed flats (appearance and landscaping reserved)
- Outline planning applied for a further 8 flats (subject to requisite consents)
- Planning permission granted for 4 x 1 bedroom flats
Description
A four-story detached building in Hemel Hempstead is being sold at auction, offering an investment opportunity with development potential. The property currently comprises eight one-bedroom flats, let on assured shorthold tenancies (ASTs), and is generating an annual income of £89,700. Planning permission has been granted for an additional four one-bedroom flats, and outline planning permission has been applied for eight more. The property is well-located, with local amenities and recreational areas nearby. The flats are let on ASTs with various unexpired terms, and the property is being sold freehold. The auction sale is scheduled for June 17, 2025.