Residential investment for sale in Gloucester

This property is marketed by:
ASH Chartered Surveyors

Key Feature

Residential Investment Opportunity comprising 12 residential flats, plus land with planning granted for 8 flats and a maisonette. 

Description

The property comprises a four-storey building dating from 1885 of brick construction with a pitched slate roof and it comprises 12 residential flats.

There are two main entrances, one directly from the Brunswick Road and the second onto St Michaels Square. A video door system is linked to all apartments.

Each flat comprises a double bedroom, a living room/dining area, kitchen and a shower room and they are heated by wall mounted thermostatic controlled panel radiators served by a gas fired central heating boiler.

The kitchens comprise a range of high and low level fitted cupboards including a stainless-steel single drainer sink unit with cooker and hob, washing machine and fridge freezer. The bathrooms have a WC, wash hand basin and shower cubicle with wall mounted electric showers.

The flats have EPC Ratings within Band C.

Tenure

The flats are all let on six month Assured Shorthold Tenancy Agreements with a total gross rental income of £8,260 per month (£99,120 per annum). Further information available upon request.

Development Land

Adjoining the main building is a broadly rectangular parcel of land which was previously used as parking.

Planning consent was obtained in January 2023 for the erection of eight No. 1 bedroom flats and a single two storey 3-bedroom maisonette (Planning Ref No. 22/00755/FUL).

The accommodation in each flat is to include an open plan kitchen/dining/living area, shower room, storage and bedroom.

Location

Gloucester is located approximately 9 miles (14.5 km) west of Cheltenham, 35 miles (56.2 km) north of Bristol, 55 miles (88.5 km) south of Birmingham and 100 miles (161 km) west of London. Access to the motorway network is available at Junctions 11, 11A and 12 of the M5 and Junction 15 of the M4 at Swindon. The link to the M4 is via the A417/A419 trunk road. Gloucester Railway Station provides direct services to London with journeys taking just under two hours, and both Gloucester and Cheltenham share a local airport at Staverton, approximately 8 miles away.

The property is situated fronting the eastern side of Brunswick Road at its junction with St Michaels Square, opposite a ‘pay and display’ car park, and 150m north of Park Road which links to Trier Way, Gloucester’s inner ring road.

It is approximately ¼ mile south from the main commercial and retail centre of the city at The Cross and ½ mile east from Gloucester Quays Retail / Leisure area of the City at The Docks.