This document outlines plans for converting office space in Oxfordshire, England into 6 apartments. The upper floors would be leased long-term from the owner, who would retain the freehold of the existing retail unit below. The redevelopment would construct 6 apartments to be subleased individually for 125 years each, at a predicted total value over £1 million after an estimated £250k in development costs on top of the £520k purchase price. A construction company would need to be formed to oversee the development and management of the property.
4. Office Conversion Oxfordshire Based
Comprising 6 apartments
Long –term leasehold tenure (250 or 999 years subject to final
negotiations) of upper floors above exiting retail unit ( freehold and retail
unit to be retained by current owner. This may change as owners may
want to sell the commercial unit.
Multi – apartment, redevelopment, with sublease provisions (125 year) for
each apartment under long term lease.
Purchase Price 520k
Predicted Development Cost £250k
Predicted GDV 1 million +
Construction/Development and Management Company will be formed.