Weston-Super-Mare, BS23 1ST | Investment Property for Sale | VES-BS23-005

Opportunity to buy freehold land in the centre of Weston-Super-Mare with pending planning permission

£275,000

Development opportunity

VES-BS23-005

INITIAL INVESTMENT

£85,500

Based on

deposit: £68,750

stamp duty: £8,250

mortgage fees: £1,500

conveyancing fees: £7,000

GROSS RENT

£96,000

GROSS YIELD

34.9%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

7

TENANCY STATUS

Vacant

FURNISHED

No

TOTAL SQ FT

TBC

PRICE SQ FT

£0

Development information

The land is located in the centre of Weston-Super-Mare and planning permission is currently pending for a 2 storey building comprising:

  • 3 x studio flats
  • 3 x 1-bed flats
  • 1 x serviced office
  • parking spaces for 4 vehicles

Access will be provided via Gloucester Street and also from Oxford Street.

The vendor estimates that the gross development value (GDV) after the build is £750,000.

Expected rental income

The vendor estimates the following rental income:

  • Total for 6 flats: £6,000 pcm
  • Total for serviced office: £2,000 pcm
  • Aggregate total rental income: £8,000 pcm; £96,000 pa
  • Expected gross yield: 12.8% pa (based on a GDV of £750,000)

Location information

  • The land is located in the town centre of Weston-super-Mare
  • All local amenities can be reached within a short walk
  • The beach and pier are also just a short walk from the property
  • Weston-super-Mare railway station is 0.4 mile away and can easily be reached on foot
  • Quick access to the A370 and wider road network

Note

Please note that Vesta has not visited this property and that the vendor has provided all material.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Weston-super-Mare, Somerset

Weston-super-Mare is a seaside town in Somerset and lies by the Bristol Channel 18 miles south-west of Bristol. The A370 runs through the town connecting it to the M5 at junction 27.

Weston-super-Mare railway station is located in the centre of town and is operated by Great Western Railway. There are regular local train services from Bristol Parkway which terminate at Weston-super-Mare as well as some semi-fast services between Cardiff Central and Taunton. Additional Great Western Railway trains go all the way to London Paddington whilst CrossCountry operates daily services between Paignton and Manchester Piccadilly.

Bristol Airport is the closest operational airport and is just 15 miles away.

There are plenty of attractions in Weston and the surrounding area offering great opportunities for fun days out. Some of these include Weston’s long and sandy beach with its Grand Pier and traditional beachside promenade, the Helicopter Museum, Weston Museum, Water Adventure Play Park, Noah’s Ark Zoo Farm, Brean Down, Art Deco Tropicana, Wall Eden Farm, Clevedon Pier and Puxton Park.

Other events that attract large numbers of visitors include the ‘International HeliDays’ which are staged at the beach lawns at the end of July in association with the Helicopter Museum as well as an annual display by the Red Arrows. The beach is also the venue for the annual Sand Sculpture Festival. During September and October the Weston Arts Festival takes place taking over local venues offering a wide range of cultural events.

Weston also has two Sites of Special Scientific Interest, Sand Point to the north of town and Ellenborough Park in the centre of town. Only a short drive away one can find the limestone Mendip Hills with the lakes of the Chew Valley which has been designated as an Area of Outstanding Natural Beauty.

With its great transport links to Bristol Weston has become a commuter town over time. However, its closeness to the national motorway networks means that several distribution depots can be found here. Some of the largest employers include North Somerset Council and Weston College.

Saint James Street,

Weston-super-Mare,

North Somerset,

England,

BS23 1ST

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