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INVESTMENT & PERMITTED DEVELOPMENT OPPORTUNITY, WALTHAM CROSS, EN8

For sale: £1,150,000.00|Flat, Residential Land, Land, Other, Residential, Commercial Land, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£1,150,000.00
ADDRESSTemple Court, 262 - 262a High Road, Waltham Cross, Hertfordshire, EN8 7EA
TYPEFlat, Residential Land, Land, Other, Residential, Commercial Land, Other Property Types & Opportunities
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON15th October 2020

DESCRIPTION

ANDELL PROPERTY - SOLE AGENTS

Guide Price: £1,150,000 Subject to Contract

FULL SUMMARY:
A well-positioned income producing investment opportunity consisting of 6 x fully let 1 bed apartments with off-street parking and potential to add significant value by adding a further 2 floors above under new Permitted Development rights, subject to all necessary approvals and consents.

Part of a private gated development which consists of 2 retail units at ground level, 6 x 1 bed apartments above and 3 x 1 bed bungalows to the rear, all of which can be accessed from the High Street via a central archway for vehicular traffic and a side pedestrian security gate.

The 6 x 1 bed apartments are all on 999 year leases dating back to when the property was built circa 10 years ago. All 6 apartments are let on Assured Shorthold Tenancies (ASTs). Total income across the site equates to circa £72,350 per annum.

The new Permitted Development rights for upward extensions came into force in September this year. Class AA allows new dwelling houses on detached commercial or mixed-use buildings subject to various criteria.

A reputable planning consultancy firm has reviewed the regulations specifically in relation to Temple Court and have confirmed that there could be potential to add an additional 2 floors above and a further 6 x 1 bed apartments or an alternative mix of apartments subject to further investigation and to a prior approval application.

(FULL DETAILS AND SALES PARTICULARS AVAILABLE UPON REQUEST - VIEWINGS STRICTLY BY APPOINTMENT ONLY).

LOCATION

Location: Temple Court, 262 - 262a High Road, Waltham Cross, Hertfordshire, EN8 7EA

Loughton (5.1 miles)

Oakwood (5.2 miles)

Buckhurst Hill (5.6 miles)

Theobalds Grove (0.1 miles)

Waltham Cross (0.5 miles)

Cheshunt (0.9 miles)

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