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A freehold development site in Rugby town centre with planning permission for 122 apartments has been brought to market by Watling Real Estate with a guide price of £2.2 million.
Toby O’Sullivan of Watling’s Birmingham office said: “The 1.48 acre site has full planning permission for the development of 122 apartments over three, four, and five storeys with 73 car parking spaces.
“The site is well located being less than a mile from Rugby town centre and a short walk from Junction One Shopping Park, Rugby Railway Station, and various local schools.
“The site is situated within an established and popular residential area with increasing demand from first time buyers and young professionals.”
The approved plans propose the development of 57 1-bedroom and 65 2-bedroom apartments. The completed scheme will comprise a single L-shaped apartment building and will benefit from a prominent frontage to Newbold Road and Wood Street.
Rugby Train Station is less than a 15 minute walk from the site and provides regular and direct services to Birmingham New Street, Birmingham International, London Euston, Manchester Piccadilly, and Edinburgh.
Junction One Shopping Park and Elliott’s Field Retail Park are less than one mile to the north east and are occupied by various major retailers, food store, and leisure operators.
The site is within walking distance of various Ofsted rated “Outstanding” and “Good” primary and secondary schools including Lawrence Sheriff School. Caldecote Park and Play Area is a couple of minutes’ walk from the site and contains two new play areas, a multi-use sports area, and café.