3 Residential Conversion

Conversion of Old Pub to 3 Residential Properties in Hoddesdon, Hertfordshire

Approximate net profit of £159,430 with potential to earn more with further site development possibilities (stpp).

An exceptional development opportunity on the site of a former Pub, which is now no longer in use, situated on Lord Street which is within walking distance of Hoddesdon Town Centre. Planning permission has already been granted for the conversion of the existing building into three beautifully designed residential homes. Much of the preliminary work on this conversion is already in place.

Another great aspect of the site is the additional land located to both sides of the main building. These generous plots provide strong potential for further development, subject to the necessary planning consents, and represent a significant opportunity to enhance both the scale and value of the project over time.

Although the property is currently vacant, the first floor has already been refurbished and is ready for occupation. This creates the possibility of generating a short-term residential rental income while progressing the wider redevelopment of the site.

Overall, this is a rare chance to acquire a highly versatile development site in a convenient and well-connected location, combining immediate income potential with longer-term potential for additional development / income generation.

Key financials:
▪ Purchase price: £830,000
▪ GDV: £1,350,000
▪ Purchase costs: 21,350
▪ Refurb costs: £237,500
▪ Profit once sold: £159,430
▪ ROCE: 47%

▪ Sourcing fee: £16,600
▪ Investment required:

Please get in touch for further information.