St Michaels Road, Northamptonshire
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This unique development opportunity forms part of the 105 unit development of the former Hawkins Shoe Factory comprising 37 one and two bedroomed apartments and studios with 5 internal parking spaces and additional permit parking spaces on St Michaels Road. The handsome former Victorian shoe factory retains a wealth of original feature including exposed stanchion posts, floorboards and Victorian brick detailed elevations and is approximately a quarter of a mile from Northampton town centre conveniently placed for access to the University of Northampton Riverside Campus and Northampton Castle Railway Station. The property is offered with vacant possession, full planning approval and full Listed Building Consent. An application to divide phases 2 and 3 is in progress.
GROSS DEVELOPMENT VALUE
Richard Greener Estate Agents estimate the gross development value of the site when completed to be approximately £5,108,000 this figure excluding the value of the ground rents.
This calculation is based on the assumption that the properties are sold on new 125 year leases with service charges of approximately £1,200 per annum and ground rent not to exceed £200 per annum per apartment.
The total build area extends to approximately 14,428 square feet
Walkway of 214 square feet
Common areas of 4,586 square feet
Total area of 19,228 square feet.
PHASE 2 OPTION
Phase 2 of the scheme is also available to purchase with Phase 3 at a combined price of £4,000,000. Phase 2 comprises 48 one and two bedroomed apartments with 23 internal parking spaces with access from Overstone Road
The property stands with the Northampton boot and shoe quarter conservation area and is Listed Grade II as a Building of Architectural or Historic Interest. Listed building consent was granted by Northampton Borough Council ref: N/2015/0674 decision date 13th September 2016. Full planning approval was granted by Northampton Borough Council application reference N/2015/0673 decision dated the 28th July 2016. The vendors have commenced works at the property sufficient to validate the planning consents going forward.
Strictly by telephone appointment through the selling agents or email Richard at firstname.lastname@example.org.
The property is located on the northern side of Northampton town centre just off of Lower Mounts within walking distance of the town centre, the North Gate bus station, the famous market square and is also within walking distance of Northampton Railway Station. The property is close to Northampton town swimming baths, the new Aldi supermarket at Lower Mounts and St Michaels Road multi storey car park. The nearest recreational park is at Beckets Park adjacent to the River Nene which is also the location of the University of Northampton Riverside Campus.
HOW TO GET THERE
From Northampton town centre proceed north from Northampton General Hospital into York Road and over the traffic light junction with Abington Square. Proceed into Lower Mounts and take the right hand filter at the traffic lights into St Michaels Road where the property stands head on the left hand side at the junction with Overstone Road and St Michaels Road.
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