ADDRESS100-110 High Street, Strood, Rochester, Kent
TYPELand, Commercial Land
TENUREDevelopment Opportunity, For Sale Freehold
POSTED ON8th September 2021
A fantastic opportunity to acquire a prominent freehold building in the heart of Strood Town Centre, with planning consent to create eight two-bedroom apartments. Planning permission was granted for the conversion of the existing first floor with construction of an additional storey comprising 8 self-contained flats in total. The commercial units on the ground floor consist of HSBC and a beauty salon. HSBC are currently paying £44,000 per annum with 18 months remaining on their lease, whilst the beauty salon are paying £12,000 per annum on a monthly rolling license.
The eight units to be built above are all two-bedroom flats of similar sizes with access to be provided from the rear of the property. They are all conveniently located with the High Street and its amenities located on their doorstep and Strood station under a 10 minute walk away. With no affordable housing provision required and the property generating a rental income already, this opportunity is likely to appeal to speculative developers and build-to-rent investors alike. ( Agency Pilot Software Ref: 29951 )