Property Sales & Lettings NI are delighted to bring to the Sales Market this fantastic Investment Opportunity with Full Planning Permission and Building control consent ideally located on the thriving Woodstock Road, Belfast. The property has recently been passed with full planning for 2 apartments spread over the 3 story building.
Located on one of Belfast's ‘Up and Coming’ area’s with easy access to the main arterial routes to Belfast City Centre and transport links, the Woodstock Road is quickly becoming one of the highly sought after East Belfast locations with a number of local businesses such as bistros, coffee houses, retail units within easy reach.
N.B The property is being sold as a Cash Purchase only due to the condition of the property.
The property has full planning permission for change of use on the ground floor from commercial to residential, extending the ground floor space to the front to be in line with other properties on the street. Two self contained apartments have been approved offer a one bedroom on the ground floor and a two bedroom on 1st and 2nd floors.
There may also be scope to increase the commercial and residential accommodation space to include a 3rd apartment, once the necessary approval is gained.
The property is in need of a full refurbishment. The ground floor unit was previously used as retail unit. The upper levels are accessible, however, the entire property is in need of extensive modernisation.
After completion of the renovation works to a high standard, we would anticipate both apartments to achieve a sales figure of £180,000 collectively if sold. Alternatively a monthly rental value of £550 would be achieved on the 1 bedroom apartment and £675 on the 2 bedroom , this would equate to an annual income of £14,700.
This is an opportunity not to be missed and we highly recommend early viewings to avoid disappointment.
UNIT 4.42m x 11.53m (14' 6" x 37' 10") - Currently a retail unit.
FRONT ROOM 4.2m x 3.9m (13' 9" x 12' 10") - Includes feature Bay window.
2ND ROOM 2.41m x 3.31m (7' 11" x 10' 10") - Rear facing
LANDING - Large landing area with WC facilities.
FRONT ROOM 4.46m x 3.6m (14' 8" x 11' 10") - Dorma window.
BACK ROOM 2.19m x 3.1m (7' 2" x 10' 2") - Velux window opening
REAR YARD -Large rear yard with added extension possibilities, which would require further permission.
Disclaimer: All measurement taken at the widest points with a laser measuring tool. Please also note that Property Sales & Lettings NI Ltd have not tested any of the services or systems in this property. Purchasers should arrange/commission their own inspections if they deem this action is necessary.