Development Information - Grange Street

9-41, 47 Grange Street, Derby
 

Development land with planning permission for 12 two bedroomed flats. Site is close to the City Centre, train station, Derby Royal Infirmary and residential areas, with excellent letting potential.

 

Alternative development proposals may be allowed offers invited for initial consultation, please contact Baggy Tiwana on baggy@ghlproperties.co.uk or call 07971  241120
 

Location
 
The property is located close to the City Centre.  On exiting the City Centre, proceed along Osmaston Road, where Grange Street will be accessed on the right.
 
Description
 

The site currently comprises three residential dwellings known as 39, 41 and 47 Grange Street.  To the rear are several outbuilding/stores and a reasonable sized garage.

 

In the event the potential purchaser wishes to alter the existing proposal for twelve flats, the three dwellings could be let on an assured shorthold tenancy arrangement to generate additional income.

 

Accomodation

 

39-41 Grange Street

Ground Floor Lounge, Dining Room, Kitchen

First Floor Four bedrooms, two bathrooms

Second Floor Bedroom five

47 Grange Street

Ground Floor Four reception rooms, kitchen, bathroom

First Floor Four bedrooms, bathroom, store
 
Development Potential
 

We have had quotes to build at  432k ( build is at 713.53 per sq metre - aprox 80 per sqft)

Working on worse case sale scenarios

115,00  -  2 Bed Flats * 12           1.38M
Land offers around                         420k
Build Cost                                       432k
Potential Gross Profit                      528K

Comparisions from
http://www.gadsby-orridge.co.uk/ a Derby Estate Agent shows flats at 103k for one bed and 120k for two bed flats in the area. Rental for new two bed flats 450 and 325 to 350 for one bed pcm.
 

Plans - Grange Street



Grange Street