Investment for sale in -110 High Street, Strood, Rochester, Kent
A attractive opportunity to acquire a prominent freehold building in the heart of Strood Town Centre, with planning permission to create eight two bedroom apartments. Planning permission was granted for the conversion of the existing first floor with construction of an additional storey comprising 8 self-contained flats in total. The commercial tenants across on the ground floor consist of HSBC and a beauty salon. HSBC are currently paying £44,000 per annum with 18 months remaining on their lease, whilst the beauty salon are paying £12,000 per annum on a monthly rolling licence.
The eight units to be built above are all two bedroom flats of similar sizes with access to be provided from the rear of the property. They are all conveniently located, with the High Street and its amenities located on their doorstep and Strood station under a 10 minute walk away. With no affordable housing provision required and the property generating a rental income already, this opportunity is likely to appeal to speculative developers and build-to-rent investors alike.