Property description
A great opportunity to purchase a 3 bedroom terraced cottage, partially re-built to comply with current building regulations (currently unfinished).
Next to the terraced cottage is a building plot with planning permission for 3 maisonettes with car parking and 180 ft garden adjoining the car park at the rear.
The cottage has a completed bedroom and bathroom to the first floor and will offer 2 double bedrooms and 1 single, 2 bathrooms and kitchen/diner once completed. The cottage now also benefits from an external wall.
We have been advised that once completed the site may provide an annual rental yield of approx 8%.
The site is located on the outskirts of Newport, close to St Marys Hospital, the prisons and the industrial estate. Newport Town Centre is within a 5 minute drive and Northwood and Cowes can be reached within 10 minutes making it ideal for commuters.
Cottage Accommodation:
Ground Floor
Hall
Lounge 18'2 x 12'6 (5.53m x 3.81m)
Shower Room
Kitchen Diner 15'3 x 12'6 (4.66m x 3.81m)
First Floor
Bedroom 2 8'1 x 12'3 (2.46m x 3.73m)
Bathroom
Bedroom 3 10'0 x 5'8 (3.06m x 1.72m)
Second Floor
Bedroom 1 14'6 x 9'1 (4.43m x 2.78m)
Outside
The cottage benefits from a good sized rear garden.
Planning
Planning permission was granted in 2006 for 3 maisonettes with car parking and garden. All plans and a copy of the permission can be viewed on the Isle of Wights planning portal by searching the reference numbers: P/00835/06 - TCP/27268/A.
Other uses of the site may be suitable subject to gaining the relevant planning permissions.
The vendor has advised that he may consider a part exchange up to £150,000. Please enquire if you would like to know more.
Terms
Our client is asking for £250,000 freehold.
Viewings
All viewings to be arranged via our office, please contact 01983 527727.
Property Features :
- 3 Bedroom Cottage Partially Rebuilt
- Building Plot with Planning
- 3 Maisonettes + Parking