Detached house for sale in Newhampton Road West, Wolverhampton WV6

Agent ref LM01 *** legal pack available *** detached house currently split into two flats ( each 2 bedrooms ) *** whole building to be sold *** massive potential for redevelopment and extension ( subject to necessary planning permissions ) *** land to the rear/side of the existing building ***

The lot is to be sold by online auction on Wednesday 29th May at 4:00pm

Rare investment opportunity with long-term development potential currently set up as 2 x 2 bedroom flats contained within this detached building with lapsed planning permission to erect 2 x 1 bedroom flats to the side of the existing property. The property is vacant and in need of updating but offers the buyer a range of options from straight residential investment to adaptation to increase rental returns or extend to side to create additional self-contained units/rooms (all subject to gaining the necessary consents and planning permissions).

It is our opinion that if the property was converted into a 5 bedroom HMO, the estimated rental income would be in the region of £450 per calendar month per room which equates to a gross income of £27,000 per annum.

Situated within a well-connected area, the property and adjacent land benefit from easy road access and proximity to public transportation options. Local amenities such as shops, schools, and parks are also conveniently within reach, enhancing its investment potential.

The land to the side of the property was granted planning permission for the erection of 2 x 1 bedroom flats under Application No: 08/01352/ful on 19th December 2008 by Wolverhampton City Council.

Newhampton Road West is located just over a mile to Wolverhampton City Centre including the Mander Centre, Molineux Football Stadium, the University of Wolverhampton and under a mile to Wolverhampton Hospital. There are also excellent road links via the A41, M6 and M54 nearby