This is a 3 bed home that has been used as a dental practice. I have taken my time with it to ensure that we will have the permissions to turn it back into a home.
I have spoken with planners, lawyers and the practice manager to make sure of this and this is 100% settled.
The dental practice is moving out today to a new premises so there's no shortage of dentists, you have to be careful in these things to make sure the community is still served with vital services. There are no new dental practices looking to move in and the property is laid out as a home.
Because we can change the use we can add massive value and turn a total spend of £74k into £110k+ upon sale netting us a total of £30k in profit to be split between us.
I have spoken to my lawyer about getting a full and proper JV agreement drawn up so that we are all properly protected too.
Let me know your thoughts.
There is one very good local rental comparable here at £800 / month for a very similar house. Looking further afield the prices drop as Cockett is a well to do sought after area and the surrounds aren't as valuable.