Brighton Office:
01273 70 10 70
Crawley Office:
01293 40 10 40
Brighton Residential:
01273 60 10 60
Haywards Heath:
01444 45 84 44
For Sale: HMO Investment and Development Opportunity

108 - 110 Ifield Road,, Crawley, RH11 7BW

Interested in this property? Call our Crawley Office : 01293 40 10 40

The property is situated in West Green, a favoured, mainly residential area to the west of Crawley town centre. The neighbourhood is served by a small parade of shops, public house, primary school and West Green park. Crawley Hospital is nearby and Crawley railway station and bus terminus are within approximately 0.5 miles.

Located in the heart of the Gatwick Diamond, Crawley is a vibrant and growing town situated equi distant between London and Brighton with a current population of approximately 106,000, extending to over 160,000 persons within a 10kms radius.

KEY FEATURES

  • Asset enhancement opportunities
  • Substantial income enhancement potential
  • Off street parking
  • Current (reversionary) income - £69,540 per annum

A pair of semi-detached two storey properties of traditional construction, with forecourt parking and large rear gardens. No. 108 has been converted to a Licence HMO and No. 110 benefits from planning consent for conversion to an HMO which when completed and combined will provide 13 units plus ancillary accommodation.

PROPERTY DETAILS

Whole Building

DESCRIPTION

Set in a total site area of approximately 0.3 acres (1,190 m2), the property comprises a pair of semi-detached three storey (including loft conversions) residential buildings of traditional construction.
Site Plan (108-110) Click here to download

ACCOMMODATION

We are advised that the total gross internal floor area is approximately 6,080 sq ft (564.75 m2).

108 Ifield Road has been refurbished/converted to provide a combination of 8 studio/one bedroom flats each benefiting from a kitchenette, shower/W.C. en-suite and electric space heaters.

110 Ifield Road currently comprises entrance hall, five rooms, kitchen/utility room and large bathroom and is in single occupation. Construction works have been commenced to extend the building in accordance with the planning consent granted, but are currently suspended pending the sale of the property. Off street parking for 6 cars to the front.
Existing floor plan (110) Click here to download

TENANCIES

108 Ifield Road - fully occupied on assured tenancies at rents ranging from £495 to £725 per calendar month (total £4,795 per calendar month).

110 Ifield Road - let on an assured tenancy at (discounted) rent of £1,000 per calendar month.

PLANNING

108 Ifield Road - Permission granted on 31 January 2014 (Ref: CR/2013/0683/FUL) for change of use from a single family dwelling to a house in multiple occupation (C3 to C4), 2 No. velux rooflights, rear dormer and associated car parking, bin and cycling store.
Planning consent (108) Click here to download

110 Ifield Road - Permission granted on 8 July 2016 (Ref: CR/2015/0044/FUL) for change of use from a single family dwelling to a house in multiple occupation, erection of first floor side extension to west elevation, internal reconfiguration of the existing ground floor and first floor level bedrooms to accommodation en-suite facilities to Units 1, 2, 3 and 4, extension of existing loft incorporating new set of dormer windows to south west and 2 No. velux rooflights to north roof slope, the loft space to accommodate a new bedroom (Unit 5) including en-suite W.C. & shower room, provision of communal kitchen/utility and lounge/dining area at ground floor level, erection of secured bicycle enclosure, provision of segregated refuse bins enclosure, provision of 3 x off street car parking spaces.

Planning consent (110) Click here to download
Proposed floor plans (110 & Existing plan (108) Click here to download

HMO LICENCE

108 Ifield Road - HMO Licence (Ref: 14/00003/HMO) - renewal date 5 January 2020.

PRICE

Unconditional offers are invited in excess of £1.4m for the freehold interest, subject to existing tenancies.

Whole Building £POA

Business Rates

108 Ifield Road
Flats A & C to G - Band 'A'
Flat B - Band 'B'

110 Ifield Road - Band 'E'

VAT

VAT will not be applicable.

Legal Fees

Each party to bear their own legal costs incurred in this transaction.

Viewing Arrangements

Strictly via prior appointment through Sole Agents Graves Jenkins

CONTACT

David Bessant MRICS
bessant@gravesjenkins.com

Dominic Ryan
ryan@gravesjenkins.com


These particulars are believed to be correct but their accuracy is not guaranteed. They do not form any part of any contract. You should be aware that the Code of Practice on Commercial Leases in England and Wales strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement.