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Price History
Our Summary
- Income Backed Development Opportunity
- Additional 5 Apartments + Planning for 16 Apartments By Separate Agreement
- 8%) Gross Yield Income Backed Development Opportunity Additional 5 Apartments + Planning for 16 Apartments By Separate Agreement Joint Venture Considered Ref 3224 Guide Price £1 Million Location Main Street Post Office Apartment block occupies a central position within Rotherham town centre, forming part of an established mixed-use area comprising residential property, independent retailers, national operators and local amenities
- 8% gross yield Additional Opportunity by Separate Agreement: • Freehold 5 Apartments Producing £41,760 per annum • Land with Planning for 16 Additional Apartments • Alternative Use Leisure or mixed-use, subject to planning • Suitable for investors seeking covered land opportunity or developers requiring income during planning phase
- The building is suitable for continued residential use or repositioning, subject to the necessary consents
- Accommodation & Income Profile Unit Mix: • 1 Studio Apartment • 1 One Bedroom Duplex Apartment • 3 One Bedroom Apartments • 4 Two Bedroom Apartments Current Rent Range £450 pcm - £850 pcm Rents considered reversionary Average Rent Approximately £631 pcm per unit (£68,220 per annum combined income) Future Development Opportunity (Available by Separate Negotiation) • Existing residential income providing holding security • 5 Additional freehold apartments producing £41,760 per annum • Land with Planning consent for 16 further apartments Planning Ref: RB2024/1757 (Full details available on Rotherham Planning Portal) • Indicative scheme size (6 stories) • Phased implementation achievable • Scope to materially increase end value • Joint venture structures considered • Potential alternative uses, including leisure or mixed-use (subject to planning) 22 Main Street Apartments – Offered freehold subject to existing tenancies Services All mains services are connected, with individual electricity meters to each flat
- EPC ratings range from C–G, with lower-rated units currently under review for improvement
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Description
The property is a freehold town centre apartment block located in Rotherham, South Yorkshire, with nine self-contained flats producing a combined income of £68,220 per annum. The block is a substantial early 20th century civic building with robust construction and adaptable internal layouts, benefiting from individual electricity meters to each flat and a property management company handling day-to-day operations. The accommodation includes a mix of studio, one, and two-bedroom apartments, with rents ranging from £450 to £850 per month, averaging approximately £631 per unit.
The property benefits from electric heating, UPVC double glazing, and all mains services are connected, making it suitable for continued residential use or repositioning, including potential future development of the adjacent land with planning consent for 16 additional apartments or alternative uses such as leisure or mixed-use.