48 bed Flat For Sale, Overstone Road, Northampton NN1

Description

This unique development opportunity forms the second phase of the105 unit development of the Hawkins Shoe Factory comprising 48 one and two bedroomed apartments with 23 internal parking spaces with vehicular access from Overstone Road. The handsome former Victorian shoe factory retains a wealth of original features including exposed stanchion posts, floorboards and Victorian brick detailing and is located approximately a quarter of a mile from Northampton town centre conveniently placed for access to both the University of Northampton Riverside Campus and Northampton Castle Railway Station. The property is offered with vacant possession, Full Planning approval and full Listed Building Consent. An application to divide phase 2 and phase 3 is in progress.

Gross Development Value

Richard Greener Estate Agents estimate the gross development value of Phase Two when completed to be approximately £7,950,000 (excluding value of the ground rent).

This calculation is based on the assumption that the properties are to be sold on new 125 year leases with service charges of approximately £1,200 per annum and ground rent not to exceed £200 per annum per apartment.

Planning

The property stands with the Northampton boot and shoe quarter conservation area and is Listed Grade II as a Building of Architectural or Historic Interest. Listed building consent was granted by Northampton Borough Council ref: N/2015/0674 decision date 13th September 2016. Full planning approval was granted by Northampton Borough Council application reference N/2015/0673 decision dated the 28th July 2016. The vendors have commenced works at the property sufficient to validate the planning consents going forward.

Build Specification

The total build area extends to approximately 25,403 square feet
Bin storage area of 893 square feet
Car parking of 8,823 square feet
Common areas 2,509 square feet
Total area of 37,623 square feet.

Viewing

Strictly by telephone appointment through the selling agents or email Richard at .

Phase 3 Option

Phase 3 of the scheme is also available to purchase with Phase 2 at a combined price of £4,000,000. Phase 2 comprises 37 one and two bedroomed apartments with 5 internal parking spaces.

Ground Floor

First Floor

Second Floor

Third Floor

How To Get There

From Northampton town centre proceed north from Northampton General Hospital into York Road and over the traffic light junction with Abington Square. Proceed into Lower Mounts and take the right hand filter at the traffic lights into St Michaels Road. Take the first turning on the left into Overstone Road where the property stands immediately on the right hand side on the corner of Overstone Road and Dunster Street.

Location

The property is located on the northern side of Northampton town centre just off of Lower Mounts within walking distance of the town centre, the North Gate bus station, the famous market square and is also within walking distance of Northampton Railway Station. The property is close to Northampton town swimming baths, the new Aldi supermarket at Lower Mounts and St Michaels Road multi storey car park. The nearest recreational park is at Beckets Park adjacent to the River Nene which is also the location of the University of Northampton Riverside Campus.

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48 bed Flat For Sale £2,500,000 Overstone Road, Northampton NN1

48 bed Flat For Sale £2,500,000
Overstone Road, Northampton NN1