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Land
Canalside, Redhill, Surrey RH1
£325,000
Canalside, Redhill, Surrey RH1
£325,000
Our Summary
- Burn and warne *development opportunity *planning consented for 2 X 1 beds 3 X 2 bed and 1 X 3 bed apartments, with further potential for 2 X 2 bed duplex apartments *good build to rent opportunity *gdv £1
- The sale of the Freehold title comes with benefit of full planning permission for 2 x one bedroom apartments 2 x two bedroom apartments and 1 x 3 bedroom on the 4th and 5th floor all capale of having lift service
- Planning reference at Reigate & Banstead is 22/02621/P and the cil calculation is approx £40k
- Planning permission
- Planning permission granted
Description
Burn and Warne are offering the freehold title of a development in Canalside Redhill, which includes 19 units with existing flats having no ground rents and 107-year leases. The property has full planning permission for 2 one-bedroom, 3 two-bedroom, and 1 three-bedroom apartments on the 4th and 5th floors, all with lift access. The development has an estimated GDV of £1.85 million, with a potential rental income of £108,000 per annum. The vendor is also seeking to sell the property as a build-to-rent opportunity, with a calculated CIL of approximately £35,000. Interested parties should contact Neil Warne for further details.