Summary - 47, GRANGE ROAD TS1 5AU
39 bed 39 bath Residential Development
### Standout Features:
- **Development Opportunity**: Planning permission secured for 38 student studios (potential to create more).
- **Location**: Prime proximity to Teesside University and vibrant local amenities.
- **Size**: Total area of approximately 14,316 sq ft (1,330 sq m) across four floors.
- **Community Amenities**: Includes communal spaces like a laundry room, game room, and study areas.
- **Investment Value**: Expected gross annual income of £350,000 with a GDV exceeding £3M.
- **Financial Support**: Eligible for various council funding programs and grants.
### Summary Description:
Unlock the potential of this expansive property located at 47-51 Grange Road, Middlesbrough, perfect for investors looking to capitalize in the thriving student accommodation market. With approved plans for 38 student studios dispersed over four levels, this development is strategically situated just a five-minute walk from Teesside University, ensuring high demand among the estimated 25,000 students in the area.
The building boasts substantial communal facilities, creating an attractive living environment that stands out amidst traditional housing options. Though the property currently requires modernization, the potential for reconfiguration allows for flexibility in maximizing rental yields. Expect an impressive annual income stream estimated at around £350,000, supported by the council's favorable funding incentives aimed at boosting the town's regeneration. Don’t miss this unique opportunity—properties like this are rarely available!
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