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End of terrace house for sale
Grange Road, Middlesbrough
£895,000
Grange Road, Middlesbrough
£895,000
Our Summary
- PLANNING PERMISSION IS FULLY PASSED ON THIS LARGE SCALE DEVELOPMENT OPPORTUNITY WHICH IS LOCATED IN A PRIME POSITION CLOSE TO BOTH LINTHORPE ROAD AND BOROUGH ROAD, WITH THE UNIVERSTY OF TEESSIDE A MATTER OF FIVE MINUTES WALK AWAY AS IS THE CENTRAL SHOPPING DISTRICT
- THE SCHEME INCLUDES PLANS FOR 38 STUDIOS (INCREASING TO 39), HOWEVER DUE TO THE SIZE OF MANY OF THEM THERE IS SCOPE TO POTENTIALLY CREATE MORE BY RECONFIGURING THE PLANS (SUBJECT TO RELEVANT PLANNING
Description
This large-scale development opportunity is located in a prime position in Middlesbrough, within walking distance to the University of Teesside and the central shopping district. The scheme involves the creation of 38 student studios across four floors, with communal areas including a laundry room, bike store, games room, and quiet study rooms. The apartments range in size from 18.2m2 to 29.7m2, making them competitive with or exceeding the majority of student accommodation in the area. With expected gross income of £350,000 per annum and a potential GDV of over £3.25m, this project offers a lucrative investment opportunity. Additionally, Middlesbrough Council offers various funding support options, including the Brownfield Housing Fund, Town Centre Living Strategy, Affordable Housing Grant, and more, making it an attractive proposition for developers. The University of Teesside's growing student population and increasing demand for high-end student accommodation further supports the viability of this project.