Summary - Stevenage, SG2 SG2 8LU
1 bed 1 bath Land
Permitted four‑flat conversion with strong projected rental income and clear planning.
Full planning granted for 2 ground garden flats and 2 first‑floor flats
Guide price £400k–£450k; GDV £890k; projected gross annual rent £56,400
Each unit with 999‑year virtual freehold lease; 1/4 share of freehold each
Requires single‑storey front (10m²) and double‑storey rear (73m²) extensions
Large plot; substantial floor area 1,634 sq ft after conversion
No flood risk; low crime; fast broadband and excellent mobile signal
Buyer to budget for construction, fit‑out, and statutory compliance costs
Nearby schools rated Good to Outstanding; local amenities on hand
A rare development plot in SG2 with full planning permission to convert an existing house into four one‑bed flats. The scheme is designed for two ground‑floor garden flats and two first‑floor flats, each with its own title and a 999‑year virtual freehold lease with a quarter share of the freehold. Planning consent covers a single‑storey front extension (10m²) and a double‑storey rear extension (73m²) to deliver the proposed layouts.
Financials are presented clearly: guide price £400,000–£450,000, an estimated GDV of £890,000, and projected gross combined annual rent of £56,400 (approx. 9.4% gross yield). The figures show a reported gross profit and margin that will attract builders, landlords and small developers seeking an income producing conversion with good upside.
The plot is described as very large and benefits from low local crime, fast broadband, excellent mobile signal and nearby schools rated Good to Outstanding. There is no flood risk. Required works are straightforward structural extensions and the conversion fit‑out; buyers should allow budget for construction, compliance, and any snagging costs.
Suitable for developers, investor landlords or builders seeking a permitted conversion with clear planning, this opportunity offers immediate planning certainty but does require practical implementation. Assess tendering costs, build programme and financing early to confirm margins before exchange.
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