Retail to 9 flats and 2 retail units
Commercial Conversion
We acquired this property at auction, a week after viewing, for a bargain price
of £368,000. Located in a market town with a population of 57,000,
it has a hospital that employs over 3000 staff and is home to Astra Zeneca.
Retail to Resi
There is over 920 sqm of internal space, and we plan to convert the top levels into 9 flats. As with #thebankjob, planning risks are mitigated as this
will be built with permitted development rights. As a hold strategy, we are projecting an infinite ROCE, and a 5-year
weighted average ROCE
from 42%.
