Detached house for sale in Fordham Road, Newmarket, Suffolk CB8

*investment opportunity*

Located in the heart of Newmarket, a rarely available and impressive site of approximately 3.76 acres (1.5 hectares).

Description
An exciting investment opportunity with further development potential. The whole site extends to 1.52 ha (3.76 acres) and comprises three existing residential properties with monthly income of £14,990 and a parcel of land approximately 0.51 ha (1.27 ac) with development potential.

The whole site extends to 1.52 ha (3.76 acres) in total which includes a parcel of land with development potential, and three existing residential properties. The three existing properties are known as: Louisville House (0.555 ha / 1.37 ac). A substantial detached former convent building with five large bedrooms.

An annexe to the house comprises of two mid terrace 2 bed bungalows and planning for a further two end of terrace 2 bed bungalows. Currently, the main house achieves £4,000pcm with bungalow 1 let at £1,280pcm and bungalow 2 £1,280pcm. £6560pcm total. Sussex Lodge (0.131 ha / 0.32 ac).

A former stable block arranged as three separate residential dwellings. 1 Sussex Lodge (4 unit HMO)achieves £2,500pcm. 2 Sussex Lodge is let at £1,350pcm. 3 Sussex Lodge (6 unit HMO) achieves circa £3,500pcm. £7,350pcm total. Colmar Cottage (0.252 ha / 0.62 ac) A detached two‐bedroom cottage that is currently let to a long‐term tenant at £1,080pcm.

The total income is in the region of £14,990pcm The site was previously used as the facilities and residential accommodation of a Convent. The properties are currently tenanted.

Location
The site is situated central Newmarket, the international home of horse racing. Newmarket offers a wide range of residential and leisure facilities. Just a short walk to Newmarket High Street and Waitrose. Newmarket station is also easily accessible. Bury St Edmunds is approximately 12 miles to the east and Cambridge lies approximately 12 miles to the west which provide a wider range of services and amenities. To the south‐east of the site is St Louis Catholic Academy. To the north are residential buildings, including the barn conversion and new‐build development known as the Maltings. The western boundary of the site is a tree‐lined watercourse which runs through Newmarket from the north‐west. Access is via Fordham Road, the A142, which serves as one of the main routes into the town center and provides a link to Junction 37 of the A14. The site has two access points from Fordham Road: The northern access serves Louisville House and the southern access serves the properties and land to the rear.





Additional Info
The land to the rear of the residential properties fronting Fordham Road has development potential (subject to planning) It extends to approximately 0.51 ha (1.27 ac) and is a roughly square parcel of private open space lined with trees. Access is provided from Fordham Road by a track on the southern perimeter of the site