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Land for sale
Stevenage, SG1
£400,000
Stevenage, SG1
£400,000
Our Summary
- SUB-DIVISION / CONVERSION PROJECT: SPLIT AN EXISTING HOUSE, TO CREATE 3 DISTINCT SEPARATE PROPERTIES
Description
This sub-division and conversion project offers a rare opportunity to create three distinct separate properties from an existing house. The project is expected to generate a gross profit of £200,000, with a gross profit margin of 25%, and a combined monthly rent of £4,250, translating to an annual rental yield of 8.5%. The property has solid financials and is considered a low-risk investment, with a guide price of £400,000 to £450,000 and a gross development value of £800,000. The proposed development involves splitting the existing house into a 1-bedroom ground floor maisonette and two 2-bedroom triplex cluster houses, each with its own separate entrance and living space.