Primmer Olds B.A.S are pleased to bring to the market this development opportunity in a prime Southampton location. The opportunity comprises of a vacant office building with consent to convert into six apartments. The site further benefits for consent to build four flats to the rear of the site.
11 Cumberland Place provides an attractive proposition to convert and build two bespoke blocks in one of Southampton's prime rental spots. With an estimated GDV of £1,760,000, future investors will expect to achieve a gross yield of circa 6.2% based on expected future value.
Cumberland Place is located north of Southampton City Centre and within walking distance of the railway station, central shopping area and evening circuit. There are excellent links to the M3 and M27 via the A33. The building is positioned within the business community, overlooking the local park and within close proximity of the bars and restaurants.
To be assessed
Offers considered in the region of:- Front Building £400,000 Rear Site £250,000 Whole Sale £650,000 Prices are subject to contract for the freehold interest with vacant possession on completion.
Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.