Opportunity available to purchase and complete an investment project in Dunstable

The demand for apartments to rent in Dunstable is very high and the recent announcement by Amazon that they are going to open a distribution centre in Dunstable will add to this demand.

We have been working with the owner of this building which was formally Dunstable Kitchens and has been vacant for a number of years.

Situated in the centre of Dunstable he purchased it at auction a couple of years ago but work stopped on it about a year ago as he concentrated on other projects. Following a recent conversation I have had with him he is looking at the possibility of selling the project to an investor.

The Building has commercial premises on the Ground floor with a basement, 2 upper floors with two 1 bed apartments on each floor and planning for a fifth 1 bed apartment in the roof space. The developer tells me it is 90% complete with many of the materials required on site.

The price he is looking for is in the region of £380,000 and he thinks the cost of completing the works including externally is about £40,000. This could give you 5 apartments and a shop unit with a basement.

The expected rental value of a 1 bedroom apartment would be in the region of £600pcm before taking into consideration the ground floor retail space.

If you would like more information please email daniel.bourke@belvoirlettings.com