3 Bedroom Terraced For Sale

Property description

PRICED TO SELL! Freehold Commercial Property Located in Gloucester on the busy and bustling High Street Comprising of a shop front which is currently being ran as a private business with and provides ample storage and office space.There is also Potential Development Opportunities by converting the storage areas in to THREE one bedroom apartments and maintaining the shop front. Plans have all been approved and plans are available to view on request. To arrange a private viewing please call SureResidential. We expecting a high level of demand so we are looking to do an open house on the 15th November where you can see all the plans and take a closer look!The property as it stands at present is as follows.Currently hosts a company supplying security equipment with the main office to the front of the property, behind the main office on the ground floor is the staff room with a very large storage unit which has a rear access for loading and unloading bay. First floor is currently set up as further storage and office space.Once a sale has been agreed, the business will move to another location leaving the building completely empty.The plans which have been approved by the local council are to convert the storage, office and staff rooms in to three, one double bedroom self contained apartments. The council have agreed the plans based on the shop front being left to be run as a business. This can be either sold as a business separately or converted into a further apartment at a later date but this has not been approved as of yet.•One Double Bedroom - £70,000 / £85,000One Double Bedroom - £70,000 / £85,000One Double Bedroom - £70,000 / £85,000•Shop front - £30,000 / £50,000 Total revenue - £240,000 based on worst case scenarioTotal revenue - £305,000 based on achieving good market valueEstimated cost of renovation - £40,000 - £50,000Purchase and renovation = £165,000Estimated profit £75,000 based on worst caseEstimated profit £140,000 based on best case

Property Features :

• Freehold Property Comprising of a Shop Front
• 3/4 Apartments
• High Street Location
• Planning Approved
• Business not Included