Home Road, Kempston, Bedford
£750,000 (Tenant Fees)
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Rear (drone)
- INVESTMENT OPPORTUNITY
- 2000 sq ft detached bungalow
- Currently split into 3 independent units
- Rental or AIR BNB potential
- Substantial plot of 0.4acres
- Ample off road parking to the front
- Could be a Substantial luxury family home
- Semi rural location but access to all amenities
Presenting this unique development opportunity located in the sought after area of Kempston Rural in Bedford. The site extends to 0.49 acres and comprises a substantial detached bungalow currently split into 3 separate units. We believe there is strong development potential following the demolition of the existing building, whilst, in the meantime, benefitting from immediate rental income from the 3 units.
PLANNING SUMMARY: The site overlaps with the emerging local plan allocation HOU13: Land at Gibraltar Corner, Kempston Rural. There is a new application on the land to the rear for up to 295 dwellings. Approval will fundamentally change the character of the immediate area which creates a powerful precedent for the type and density of development the council considers acceptable here.
Additionally, the council's lack of a 5-year housing land supply strengthens the case for sustainable development proposals. Given the strategic allocation (HOU13), a proposal that aligns with the principles of this policy has a good chance of success. However, a pre-application is highly recommended.
KempstonKempston is a town and civil parish located in Bedfordshire, England. Once known as the largest village in England, Kempston now has a population of around 20,000. Here you will find many amenities including a large Sainsburys, Lidl, two Post Offices, other independent shops and restaurants, Addison Park and the Interchange Retail Park, a big shopping complex housing many popular high street stores. In Kempston Rural you will also find Box End Park, an aqua park with watersports facilities and the highly regarded Corner 5 lakeside restaurant. Kempston is also a mere 2 miles from Bedford Town Centre, Bedford Bus Station and Train Station. There is also great access to the A421, A428 and the A6.
Site CompositionThe site currently comprises a substantial detached bungalow, circa 2000 ft2, which is split into 3 independent units.
Rental IncomeThe property in its current form has a potential rental income in the region of £3,300 pcm on an assured shorthold tenancy basis. There is also potential to utilise the property as an Airbnb for approximately £80-£120 per unit per night given its close proximity to the forthcoming Universal Studios development.
Potential DevelopmentFollowing site analysis, we instructed a local architect to devise the accompanying site plans to show possible configurations:
Layout A: 8 x 3 bedroom semi detached
Potential £3.2m GDV (£400K per unit)
Layout B: 4 x 4 bedroom detached
Potential £2.4m GDV (£600K per unit)
Click image to enlarge:
- INVESTMENT OPPORTUNITY
- 2000 sq ft detached bungalow
- Currently split into 3 independent units
- Rental or AIR BNB potential
- Substantial plot of 0.4acres
- Ample off road parking to the front
- Could be a Substantial luxury family home
- Semi rural location but access to all amenities
