Non quoting
Block of flats for saleOrsman Road N1
14,532 sq. ft
Just added
About this property
Opportunity to acquire a strongly positioned income producing residential asset
Freehold
100% occupancy at purchase
Immediate gross income of £694,780 per annum
Potential to actively asset manage
The subject property is situated on a site of approximately 0.41 acre and comprising of a two storey converted industrial building now used for residential and commercial purposes. The property benefits from courtyard parking and private gardens facing the canal.
Canalside Studios is a converted two storey warehouse and industrial building probably constructed in the 20th century.
Its south facing elevation runs along the boundary with Orsman Road although the main entrance is accessed via Orsman road also situated on the southern boundary of the building, opening into a carpark. The property is of solid stock brick wall construction, with a multi-pitched roof surface.
At present the property is configured in line with planning to provide 27 x Studio flats and one commercial unit to the ground floor. The total residential (C3 accommodation) comprises of a total nsa of approximately 11,420 sq ft and in addition to 3,112 sqft of commercial space.
A resolution has been granted for the following planning the erection of a new part-3 part-4 storey building and a single storey extension to the existing building to accommodate an office and 4 no. Residential dwellings.
The property is currently let a passing rent of £694,780 per annum. With 94.3%of the income being derived from the residential accommodation.
Planning
Outline planning has been granted (Planning Ref: 2024/0428) for 4 x residential units and 4,650 sq ft (432 sq m) of Class E Commercial.
Canalside Studios is a converted two storey warehouse and industrial building probably constructed in the 20th century.
Its south facing elevation runs along the boundary with Orsman Road although the main entrance is accessed via Orsman road also situated on the southern boundary of the building, opening into a carpark. The property is of solid stock brick wall construction, with a multi-pitched roof surface.
At present the property is configured in line with planning to provide 27 x Studio flats and one commercial unit to the ground floor. The total residential (C3 accommodation) comprises of a total nsa of approximately 11,420 sq ft and in addition to 3,112 sqft of commercial space.
A resolution has been granted for the following planning the erection of a new part-3 part-4 storey building and a single storey extension to the existing building to accommodate an office and 4 no. Residential dwellings.
The property is currently let a passing rent of £694,780 per annum. With 94.3%of the income being derived from the residential accommodation.
Planning
Outline planning has been granted (Planning Ref: 2024/0428) for 4 x residential units and 4,650 sq ft (432 sq m) of Class E Commercial.
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