374 & 374A Penn Road, Wolverhampton, West Midlands, WV4 4DB

Freehold Development Opportunity

Property details

Type Investment, Land/Development
Price £295,000
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  • Excellent development / investment opportunity in sought after location
  • Currently comprising two detached houses
  • Planning permission to demolish one house and develop 5 x 2 bed apartments
  • Potential for other schemes (subject to consent)
  • Site area approx.. 0.2 acres
  • Freehold - offers over £295,000
Located approximately 2 miles south-west of Wolverhampton City Centre and on one of the principal approaches to the City Centre (A449) the site occupies a slightly elevated prominent corner position on the junction of Penn Road and Pennhouse Avenue.

The site, extending to approximately 0.2 acres or thereabouts, currently comprises a substantial three bedroomed detached house together with a separate two bedroomed detached coach house, situated on a prominent corner plot.

The property also has the benefit of planning permission for the demolition of 374 Penn Road and its replacement with a block of 5 No two bedroom apartments whilst retaining 374A Penn Road. The existing properties on the site comprise a 2 storey red brick and half timbered, rendered residence elevated above and facing onto Penn Road set behind a 1.9m high boundary wall, together with the 2 storey Coach House located in the north west corner of the site.

374 Penn Road has already been stripped in readiness for demolition and other development proposals may be possible subject to obtaining planning permission and any other necessary consents.

374 Penn Road
Ground Floor: Porch, Hall, Two Reception Rooms, Kitchen, WC, Cloakroom, Utility Room, Side Hall.
First Floor: Landing, Three Bedrooms, Bathroom.

374a Penn Road
Ground Floor: Open Plan Kitchen/Living Room.
First Floor: Landing, Bedroom, Bedroom on Mezzanine, Bathroom.
Offers over £295,000 are sought for the Freehold interest.
Development Proposal for 374 Penn Road -
The existing residential property comprising 68.5sqm (GIA) at ground and 75.6sqm (GIA) at
first floor will be demolished.
The existing 2 bedroom Coach House apartment (38sqm, including entrance and garage
space at ground and 35sqm at first floor) to the north-east corner of the site will be retained.
A total of 5 no. 58.25sqm (GIA) 2 bedroom apartments will be provided on Lower Ground,
Ground and First Floors.
A shared entrance lobby and staircase totalling 31sqm (GIA) over Ground and First Floor
Levels is proposed.

Existing Footprint - 217sqm (Gross Internal Area).

Proposed Footprint - 395sqm (Gross Internal Area).
Certain mains services are believed to be available within the vicinity of the property but interested parties should independently satisfy themselves as to the availability and suitability of any mains services for their particular requirements.
Available upon request - E (No. 374) & C (No. 374a).
Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with Anti-Money Laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
Additional Information
Viewings & Further information -
Please contact sole agents Bond Wolfe on 0121 525 0600 or email [email protected].