What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
GDV£3,800,000
Profit£581,482
ROCE59%
Purchase £ £35,750
Property description
Strategy: Conversion
Development Opportunity – Atherstone
Address: 36 Station Street, Atherstone CV9 1BU, North Warwickshire
Area: Approx. 26,000 sq ft
Guide Price: £650,000 + £10,000 fees
Tenure: Freehold
Highlights
• Rare redevelopment opportunity in the heart of the city.
• Approx. 26,000 sq ft across existing buildings.
• Council supportive of planning – strong precedent for residential-led schemes.
• Previous application (historic) for 11 x 1-bed, 13 x 2-bed apartments, ground floor retail unit and restaurant.
• Attractive mixed-use or residential conversion potential.
• Excellent connectivity – central location with easy access to transport, shops, and amenities.
Planning & Development Potential
• The council has indicated support for redevelopment of the site.
• Historic plans show potential for c.24 apartments plus commercial space.
• Flexible future uses may include:
- Private residential (for sale)
- Build-to-rent / PRS scheme
- Co-living or retirement living
- Ground floor retail / leisure to activate frontage
Location
• Situated on Station Street, close to town centre amenities.
• Neighbouring occupiers: Aldi, Original Factory Shop, and local independent retailers.
• Well-served by public transport and local infrastructure.
Financials (Illustrative)
• Potential GDV: £3.6m – £4.3m (based on resale values £150k–£180k per apartment x 24 units + commercial element).
• Low entry price: £650k for 26,000 sq ft represents an attractive psf rate.
Approx Costings
• Potential GDV: 24 flats x £150k ave= £3.6m + £200k shops = £3.8m.
• Conversion / development cost: £80k x 26 units + 10% + £15k planning = £2,320,000.
• Profit: £581k (incl interest) = 59%
Buyer to do his own due diligence.
Summary
This is a prime opportunity for developers and investors to acquire a substantial freehold building with clear redevelopment potential. With strong council support, existing precedent, and demand for quality housing in the area, this site offers an excellent value-add project.
Sourced reference: 721147453629727
Due diligence
No information supplied.
Location
Disclaimer
Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.
Key financials
GDV£3,800,000
Profit£581,482
ROCE59%
Purchase £ £35,750
Sales Agent
Mush Fazel
MJF Property Ltd
Smart support to move your deal forward
Review the numbers
We've pre-crunched the figures for you.
What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network