Historic Mill Conversion with 12 Luxury Apartments

An exceptional residential development and investment opportunity featuring a historic mill conversion with planning permission granted in July 2021 for the creation of 12 luxury residential apartments. The vendor advises that relevant planning conditions were discharged in March 2024. Substantial structural and internal construction works have already been undertaken, providing an incoming purchaser with an advanced project where considerable development expenditure and progress have been achieved. The works completed include structural alterations, internal partitioning, installed staircases, partial first-fix works, plastering, and the complete erection of Apartment 12. The front section of the building has also been removed to facilitate on-site parking provision. Building Control documentation, fire safety arrangements, and thermal calculations have been completed according to documentation supplied by the vendor. The property offers two principal strategies: a development exit strategy to complete remaining construction and bring the 12 apartments to market individually, or a long-term investment strategy to retain them as a residential rental portfolio. The estimated remaining build cost is £495,000, with an indicative Gross Development Value (GDV) of £1,225,000 supported by an independent RICS valuation report. Prospective purchasers must independently verify all planning, legal, building control, structural, and financial matters before bidding or exchanging contracts.