£500,000
Cranbrook Street, Cardiff, CF24
- 3 beds
£500,000
- 3 beds
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*****INVESTMENT OPPORTUNITY WITH APPROVED PLANNING FOR CONVERSION INTO 8 STUDIO APARTMENTS OR LARGE HOUSE IN MULTIPLE OCCUPATION (HMO)*****
3 Bedroom End of Terrace Property with Approved Planning Permissions
Ideally located within walking distance of Cardiff University, this three-bedroom end-of-terrace property in need of total renovation, offers an excellent opportunity for investors or developers. The property benefits from two approved planning permissions, providing multiple options for redevelopment and maximising rental yield.
PLANNING PERMISSIONS
1.Conversion into Studio Apartments: Planning permission (ref: 22/00235/MNR) allows for the conversion of the existing house into 8 studio apartments, with selective demolitions, as well as rear, side, and second-floor extensions. This option is perfect for creating modern studio units in a high-demand rental area.2.Change of Use to a Large HMO: Alternatively, planning permission (ref: 21/02586/MNR) permits the change of use to a large House in Multiple Occupation (HMO), including a rear three-storey extension, single-storey extension, and rear dormer. This would provide accommodation for multiple tenants, ideal for the student or young professional market.
LOCATION
Located in a vibrant area with easy access to local amenities, transport links, and Cardiff University, this property offers great potential for a high-yielding investment.
KEY FEATURES
Prime location within walking distance of Cardiff UniversityTwo approved planning permissions for redevelopmentPotential to develop student accommodation or large HMOHigh rental demand in the surrounding areaThis property represents a unique opportunity for renovation and development, with significant potential for return on investment
TENURE
This property is understood to be Freehold. This will be verified by the purchaser's solicitor.
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