Land For Sale £250,000
Property
The existing property is configured to provide a large living dining kitchen and one bathroom, shared by the three good sized bedrooms.
Outside
The existing property boasts a large frontage with a slabbed and tarmac driveway, set behind a low level brick wall.
To the rear of the property is a large garden with outbuildings providing the potential for further development subject to relevant consent.
Property Information
The current owner has compiled four distinct options for consideration.
Option 1 - 6 bed HMO
Most simple, cost effective and speediest
The extensions all fall within permitted development
The number of units are all within non planning for HMO (6 number rooms and communal area)
No demolition of the outbuilding
Total gross rent £36,000 per annum (£500 per room per week)
Option 2 - 7 bed HMO
Fairly cost effective but requires planning
This version is permitted development to build the extensions, but planning needed for the large HMO given there would be 7 units
No demolition of the outbuilding
Total gross rent £42,000 per annum (£500 per room per month)
Option 3 - 8 bed HMO
Time consuming and costly but higher value
Requires planning for large HMO, all en-suite (8 rooms and a communal area)
Requires planning for double storey extensions
Provides ensuite rooms, and studio type spaces for all flats. This demands a higher rental value
Demolition of outbuilding required
Total gross rent £52,800 per annum (£550 per room per month)
Option 4 – 5 one bedroom flats
Time consuming and costly but higher value
Requires planning
Requires planning for double storey extensions
Provides a mix of both studio and one bedroom flats
Demolition of outbuilding required
Total gross rent £36,000 per annum (£600 per flat per month)
Location
This development opportunity is situated in the well-regarded southern suburb of Aylestone, approximately two and a half miles south of the city centre with the suburb itself offering a range of local shops including a post office on Aylestone Road, nearby schooling for all ages, sports and recreational facilities including Aylestone Meadows and regular bus services to the city centre.
More comprehensive shopping and supermarket facilities are available at Fosse Park and in the city centre. The nearby ring road provides access to Junction 21 of the M1 which interlinks with the M69 while Leicester has direct rail services to London St Pancras. The area is ever popular with professional lets and offers a buoyant rental market at all times of the year.
Viewings and Directions
For more information, please contact Oliver Rayns Estate Agents on . Strictly by appointment only through the sole agent.
Postcode for Sat Nav: LE2 8BB
The existing property is configured to provide a large living dining kitchen and one bathroom, shared by the three good sized bedrooms.
Outside
The existing property boasts a large frontage with a slabbed and tarmac driveway, set behind a low level brick wall.
To the rear of the property is a large garden with outbuildings providing the potential for further development subject to relevant consent.
Property Information
The current owner has compiled four distinct options for consideration.
Option 1 - 6 bed HMO
Most simple, cost effective and speediest
The extensions all fall within permitted development
The number of units are all within non planning for HMO (6 number rooms and communal area)
No demolition of the outbuilding
Total gross rent £36,000 per annum (£500 per room per week)
Option 2 - 7 bed HMO
Fairly cost effective but requires planning
This version is permitted development to build the extensions, but planning needed for the large HMO given there would be 7 units
No demolition of the outbuilding
Total gross rent £42,000 per annum (£500 per room per month)
Option 3 - 8 bed HMO
Time consuming and costly but higher value
Requires planning for large HMO, all en-suite (8 rooms and a communal area)
Requires planning for double storey extensions
Provides ensuite rooms, and studio type spaces for all flats. This demands a higher rental value
Demolition of outbuilding required
Total gross rent £52,800 per annum (£550 per room per month)
Option 4 – 5 one bedroom flats
Time consuming and costly but higher value
Requires planning
Requires planning for double storey extensions
Provides a mix of both studio and one bedroom flats
Demolition of outbuilding required
Total gross rent £36,000 per annum (£600 per flat per month)
Location
This development opportunity is situated in the well-regarded southern suburb of Aylestone, approximately two and a half miles south of the city centre with the suburb itself offering a range of local shops including a post office on Aylestone Road, nearby schooling for all ages, sports and recreational facilities including Aylestone Meadows and regular bus services to the city centre.
More comprehensive shopping and supermarket facilities are available at Fosse Park and in the city centre. The nearby ring road provides access to Junction 21 of the M1 which interlinks with the M69 while Leicester has direct rail services to London St Pancras. The area is ever popular with professional lets and offers a buoyant rental market at all times of the year.
Viewings and Directions
For more information, please contact Oliver Rayns Estate Agents on . Strictly by appointment only through the sole agent.
Postcode for Sat Nav: LE2 8BB
