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Flaxley Road, Selby, North Yorkshire... 23 bed property with land for sale
Flaxley Road, Selby, North Yorkshire, YO8
£1,750,000
Flaxley Road, Selby, North Yorkshire, YO8
£1,750,000
Our Summary
- Detailed Planning Consent: Approved for an additional 18 residential flats and 2 commercial units on the ground, first, and second floors, with potential additional gross rental income of £129,000 to £151,000
- Future Development Potential: Possibility for another 8 flats, 2 duplexes, and car park development, subject to planning consentPlanning Decision: No 2019/0961/FULM, issued by Selby District Council on 24 June 2022
Description
This property in Selby, North Yorkshire, is a rare investment opportunity that offers a significant yield. The existing 23 flats are fully let and generating a gross rental income of £128,280, while a detailed planning consent has been approved for an additional 18 residential flats and 2 commercial units, which could add a further £129,000 to £151,000 to the income. The property also has future development potential, with the possibility of adding 8 more flats, 2 duplexes, and a car park, subject to planning consent. Located in the historic market town of Selby, the property benefits from a range of amenities, including local retailers, leisure activities, and the historic Selby Abbey, and is well-connected to major cities via the A19 and A63. With its high-yielding income and significant expansion potential, this is an attractive opportunity for investors looking to grow their portfolio.