End of terrace house for sale

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End of terrace house for sale

Grange Road, Middlesbrough
£975,000

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 near Linthorpe Road and Borough Road, with Teesside University and the central shopping district just a five-minute walk away. The scheme involves the creation of 38 student studios across four floors, including a basement level, with communal areas such as a laundry room, bike store, games room, and quiet study rooms. The apartments range in size from 18.2m2 to 29.7m2, making them competitively sized compared to other student accommodation in Middlesbrough. With expected gross income of circa £350,000 per annum, this development has the potential to be a lucrative investment. Additionally, the site is eligible for funding support from Middlesbrough Council, including the Brownfield Housing Fund, Town Centre Living Strategy, and Affordable Housing Grant, among others. The nearby Teesside University has a high demand for student accommodation, particularly for "higher end" self-contained units, and has invested £280m in its campus masterplan to date, making this development an attractive opportunity for investors.
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