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New Road Avenue, Chatham, ME4 1 bed detached house for sale
New Road Avenue, Chatham, ME4
£600,000
New Road Avenue, Chatham, ME4
£600,000
Our Summary
- There is forecasted potential to increase that
- It has now become available with the option of continuing in its current capacity or converting to residential apartments consisting of 12 units - 1 x studio, 8 x one bed and 3 x two-bed - planning permission granted by Medway Council on 30th June 2023The original building was completed in 1893, and served as a residential home until around the 1960s when it became commercial with an additional build added to what was once the rear garden
- Details of the plan can be provided on request, and a viewing is advised to give a true scope on the size of this property and the potential for redevelopment, or continuing as a going concern
- Great Development Potential
- Planning Permission Granted
Description
Avenue Business Centre, a historic property with a rich history, is available for purchase with the option to continue operating as a commercial space or convert it into 12 residential apartments. The property has been serving the local business community for over two decades and currently generates £5000 per month in rent, offering a 10% yield. Planning permission has been granted by Medway Council to convert the property into apartments, comprising one studio, eight one-bedroom, and three two-bedroom units. The property has a unique character, having been built in 1893 and previously serving as a residential home before becoming commercial in the 1960s. Interested parties are advised to contact Jatinder directly to request further details and schedule a viewing to appreciate the property's potential for redevelopment or continued operation as a going concern.