Available
Southampton – Vacant Industrial with Residential Development Potential
127-131 Albert Road South, Southampton, Hampshire SO14 3FRPlanning previously granted in 2018 (now lapsed) for development of two residential blocks consisting of 20 flats total
Price
£1,500,000
Rent P.A.
Vacant
Tenure
Freehold
Area
10,255 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises two-storey former light industrial building fronting Albert Road South and Canute Road
- Total existing area size: 953 sq m (10,255 sq ft)
- Planning previously granted in January 2018 (now lapsed) for demolition of existing building and erection of two residential blocks consisting of 20 flats in total
- Situated in high value residential location approximately 1 mile to Southampton city centre and directly opposite the gateway to Ocean Village Marina
- Both Albert Road South and Canute Road have received recent proposals for residential and commercial development, with Premier Inn and Southampton City Council showing interest in developing the adjacent sites.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises two-storey former light industrial building fronting Albert Road South and Canute Road. Planning previously granted in January 2018 (now lapsed) for demolition of existing building and erection of two residential blocks, one six-storey fronting Canute Road and one four-storey fronting Albert Road South, consisting of 20 flats total (13 x 1-Bedroom, 6 x 2-Bedroom and 1 x 3-Bedroom).
Location Description
Ocean Village Marina is nestled in the heart of Southampton and is so much more than a marina. Surrounded by shops, bars, restaurants and a cinema, the waterfront is bustling and sophisticated, where eating out, enjoying a glass of wine, or going to the cinema is as much a part of the boating experience as the sailing is. The property is situated in a high value residential area approximately 1 mile to Southampton city centre and directly opposite the gateway to Ocean Village Marina. Both Albert Road South and Canute Road have received recent proposals for residential and commercial development, with Premier Inn and Southampton City Council showing interest in developing the adjacent sites.