A residential development site measuring in excess of half an acre with detailed planning granted for five properties; the conversion of the former Hollybush Inn into two spacious cottages, and the erection of three new detached family homes. The planning permission is agreed for the conversion and development of approx. 10,000 square feet gross internal area across five plots with a GDV of circa £2,350,000 with circa 30% return on investment. ** Watch the drone video. **
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A residential development site measuring in excess of half an acre with detailed planning granted for five properties; the conversion of the former Hollybush Inn into two spacious cottages, and the erection of three new detached family homes. The planning permission is agreed for the conversion and development of approx. 10,000 square feet gross internal area across five plots with a GDV of circa £2,350,000 with circa 30% return on investment. ** Watch the drone video. **
General Description - An exceptional development opportunity comprising of a plot measuring in excess of half an acre with detailed planning granted for the conversion of the former Hollybush Inn into two spacious cottages, and the erection of three new detached family homes. The planning permission is agreed for the conversion and development of approx. 10,000 square feet gross internal area across five plots with a GDV of circa £2,350,000, making this development perfect for small to medium sized developers with circa 30% return on investment.
The village is an attractive settlement in North West Leicestershire, boasting amenities such as a public house, leisure centre and a primary school rated 'Good' by Ofsted. Within close proximity is the sought after market town of Ashby-de-la-Zouch, and commuter links to Nottingham and Birmingham are excellent via the M42 motorway.
The retained former public house has an attractive Victorian facade, and planning to renovate into a pair of three bedroom cottages with off road parking and private gardens. As an adjunct, the three detached new build dwellings are to be laid across two and a half storeys as 4 and 5 bedrooms houses respectively with private parking, garage and south facing rear gardens.
We estimate that there is around a 30% return on investment, making this opportunity exciting for the right developer.
Planning - Full details of the granted planning condition can be found on the North West Leicestershire District Council website under application number 19/00763/FUL.
Please click here for planning search: https://plans.nwleics.gov.uk/public-access/search.do?action=simple&searchType=Application
Viewing - Please contact the sole selling agent, Alexanders of Ashby for further information and to arrange a site visit on (01530) 413126
Tenure - Freehold.
Local Authority - North West Leicestershire District Council, Council Offices, Whitwick Road, Coalville, Leicestershire, LE67 3FJ (Tel: 01530 454545).
Measurements - Every care has been taken to reflect the true dimensions but they should be treated as approximate and for general guidance only.
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