For Sale

Development Opportunity in Swindon

Property Features

  • 1.8 miles from Swindon Train Station
  • Second floor office space to 12 units.
  • 10 x studio flats and 2 x 1 bedroom flats
  • Type: Development
  • Availability: For Sale
£600,000 Offers in Excess of
  • Make Enquiry

Property Summary

Development opportunity in central Swindon, within 1.8 miles of the train station

Full Details

Our client is currently seeking planning permission for conversion of the first and second floor office space to 12 units. The ground floor would be a restaurant. Please see plans below for your consideration.

The breakdown of the units are 10 x studio flats and 2 x 1 bedroom flats. Please see breakdown of the units below:
• Unit 1 - 45 m2 (Studio)
• Unit 2 - 71 m2 (Studio)
• Unit 3 - 80 m2 (1B2P)
• Unit 4 - 32 m2 (Studio)
• Unit 5 - 30 m2 (Studio)
• Unit 6 - 30 m2 (Studio)
• Unit 7 - 33 m2 (Studio)
• Unit 8 - 33 m2 (Studio)
• Unit 9 - 35 m2 (Studio)
• Unit 10 - 35 m2 (Studio)
• Unit 11 - 42 m2 (1B2P)
• Unit 12 - 32 m2 (Studio)

The projected GDV for studios are approximately £85-90k and for the 1 bed flats is approximately £90k-100k. Estimated GDV would be circa £1.03- £1.1m. Excluding the value of the restaurant.

In terms of rental income provided the site achieves planning permission for 12 units the site could potentially achieve £500 pcm for each of the studios and £625 pcm for the one beds. So once converted could potentially achieve a rental income of £6,250 pcm excluding the rental income from the restaurant. There is also scope to convert the office units into smaller scale office units and let them out to start ups in the area. Local agents have advised there is high demand for such type of office space.

The vendor is ideally looking for unconditional offers rather than STP offers. They are looking for offers in excess of £600k.

Please note there is also a finders fee on the purchase price. Due to the off market nature of this deal an NDA and Fee Agreement will need to be signed prior to releasing full details.




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