The Wheatsheaf Hotel, Upper Benefield, Northamptonshire
The property was purchased in September 2017 with planning permission to convert the hotel into 6 apartments and 2 new build houses in the garden / carpark. Upon purchasing the property we put in for an amendment to convert the hotel into 6 houses which was approved with a further application to increase to 4 new build houses in the garden / car park. We are currently awaiting a decision on the 4 new build houses.
The headline figures are as follows:
PP - £725,000
Planned Development Cost - £1.2million
GDV - £2.5million
ROCE = 29.8%
New plans if approved.
Planned Development Cost - £1.6million
GDV - £3.1million
ROCE = 33.3%
Timescale 24 - 30 months.
For more information simply call us on 01536 333545 or Email email@example.com