Property description
The property is a prime location on a busy part of Stratford Road occupying a corner location with Poplar road and the property can be seen from some distance down Stratford Road.
For photos please check google maps
The property is three floors with planning permission granted to convert the attic some of the work has already been carried out.
The property consists of :
Ground floor
Restaurant area with kitchen and bathroom sections.
Planning permission has been granted to convert a section on the road part into shop premises.
The stairway has separate entrance on main road and leads up to:
(a) the first floor
this consists of a large section which is in the process of being divided so that one section remains as part of the restaurant and one section part of the shop downstairs.
(b) the second floor which consists of three ensuite bedrooms and large area to convert into kitchen and sitting areaFurther stairs leading to two ensuite rooms in what was the attic.General
The property needs renovation but already has had major structural renovations carried out.
Council grant for 15,000 pounds has also bee granted towards the renovations and has not yet been used.All the chimneys ( which was a major job) have been removedMost of the walls have been realigned for the ensuite rooms and some of the bathrooms have been partly done.
Planning Permission
Planning permission has been granted for 5 ensuite bedrooms on 4th and 3rd floors, the shop and all the other renovations plus a glass extension on the first floor at the back has been allowed ( which everyone said would never be granted)
Licences
The restaurant has all the relevant licences and we believe the Council is no longer giving the restaurant licences on that roadInvestment Opportunity
This is a great opportunity for someone to invest and take advantage of all the hard work which has already been carried out.
The property would immediately bring in income from the rent of the 5 ensuite rooms and the shop and also the restaurant.The property when completed would become in the region of 1,000,000The demand is so great that although it has not been completed people have been requesting to be placed on reserve to rent the shop even though renovations have not yet been carried out.
The only major structural work left now is the roof.
the rest of the building can requires finishing touches and new windows.
Property Features :
- REDUCED BY £200,000
- 5 Bedsits. En-suite
- Restaurant on ground floor
- Six University Site
- High Rental Demand