Not the type of deal that's featured on this blog previously, but I'm in discussions about a piece of prime development land that's about to come to the market.
Whilst I don't have plans yet, this is a town centre plot with outline consent for around 40 apartments. It's a good location, in a proven rental area. It would need someone to buy it, build it, then either rent the apartments or sell them - clearly I'm looking to be retained for either. I'm talking to a couple of interested parties already, but would be keen to hear from companies or individuals who have a track record of delivering on this type of development - it's not one for the amateur. Alternatively for those with finance, I could introduce a builder who has delivered previously to the required high standard. A crowdfunded solution is less appealing to the vendor.
Headline figures suggest it would cost in the region of £1.5m to buy the land, and the finished apartments would have a market value of around £4.5m, sold as individual units. Rental income on the whole lot should be in the region of £0.35m per annum.
Please email me as required. richard.baker@belvoir.co.uk
Please email me as required. richard.baker@belvoir.co.uk
