Property description

Planning

Planning permission was previously granted on the 13th May 2008 (08/0119/PP) for the erection of ten apartments, a commercial unit, access road and parking, however, this planning has since lapsed. New drawings have been produced to construct two separate blocks, comprising of 14 one and two bedroom apartments with parking, drawings included. It should be noted that these revised plans have not been submitted to Renfrewshire Council for approval. It is also assumed that the site has no onerous burdens or restrictive servitudes within the title.

Gross Floor Areas for the proposed drawings are as follows:

Block A - 6 Apartments
2 x Two Bedroom Apartment - 60.42 Sq M
4 x Two Bedroom Apartment - 50.92 Sq M

Block B - 8 Apartments
3 x One Bedroom Apartment - 50.92 Sq M
1 x One Bedroom Apartment - 44.86 Sq M
1 x Two Bedroom Apartment - 53.43 Sq M
3 x Two Bedroom Apartment - 56.83 Sq M

14 Apartments in total

17 Parking Spaces

Residential Sales Value

Due to the popular location we feel demand will be high for these units, once constructed, and if planning is approved. We have carried out our own market research and spoken to a local chartered surveyor and would suggest the following re-sale valuations. Valuations are based upon the revised drawings that have not yet been submitted to Renfrewshire Council for approval.

Block A
2 x Two Bedroom Apartment - 60.42 Sq M
£105,000 x 2 = £210,000

4 x Two Bedroom Apartment - 50.92 Sq M
£100,000 x 4 = £400,000

Block B
3 x One Bedroom Apartment - 50.92 Sq M
£85,000 x 3 = £255,000

1 x One Bedroom Apartment - 44.86 Sq M
£82,500 x 1 = £82,500

1 x Two Bedroom Apartment - 53.43 Sq M
£105,000 x 1 = £105,000

3 x Two Bedroom Apartment - 56.83 Sq M
£107,500 x 3 = £322,500


TOTAL (Potential) GDV = £1,375,000


Services

We believe that all main services are located in the vicinity of the site. There are residential dwellings in the locale, which all have access to services. However, prospective purchasers should make their own enquiries with the appropriate service providers.

By appointment through McEwan Fraser Legal on 0141 404 5474

McEwan Fraser Legal are open 7 days a week: 8am - Midnight Monday to Friday & 9am - 10pm Saturday & Sunday to book your viewing appointment.