15 Nov

Land Lower Breck Road – Planning Permission for 3 x 2 bedroom self contained flats

lower-breck-rd4

mapping 1506-pl-004a-proposed-east-and-north-elevations-page-001 1506-pl-002a-proposed-plans-2-page-001 1506-pl-003a-proposed-west-and-south-elevations-page-001I’ve spotted this investment that may appeal to an investor/builder.

It’s land located in Anfield that has planning permission for 3 x 2 bedroom self contained flats. Looking at the plans, then I would suggest you would be looking to achieve a rental income of £400 per month per flat, giving a monthly income of £1,200 a month.

The land is available through Belvoir for £40,000 and I would estimate the cost of building the flats would be somewhere between £60,000 and £80,000 (I’ve not had any experience at building but I’ve spoken with a few builders who gave me this estimation)

If the build costs came at the upper end of my estimation and the total cost for the build and land purchase came too £120,000 then this would still offer a yield of 12% for a building that would be brand new and very appealing to tenants. If there would be any movement on the price and the build cost could be reduced then this yield could easily go over the 14%.

Click Here to see the property advert