20 bedroom flat for sale

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20 bedroom flat for sale

42 Mill Street, Macclesfield, SK11
£490,000

Our Summary

  • • Full Planning permission 22/4407M
  • Planning for 6 x 2 bedroom flats with provision to extend finished planning permitted flats to 3 and 4 bedroom flats as in layouts via permitted development

Description

This property is a mid-terrace building in a prime pedestrianized location in the town center, with full planning permission for six 2-bedroom flats, with the potential to extend to 3 and 4-bedroom flats through permitted development. The building has a build budget of £1 million and is expected to generate a profit of over 30%. The property is currently let to a local business for £36,000 per annum on a 10-year lease, with a rent review at the end of year two. The building is not opted to VAT and has an EPC rating of 82, with plans to achieve a residential EPC of A. The property offers a prospective rental income of over £210,000 per annum, making it an attractive investment opportunity.