property details & discussions
for a Hub House co-operative coliving project
☃️2–6–11° 🏖20–27° ☀️2 days 🌧13 days;
Compare with all properties
Environment ✧ suburban, canal walks and some green spaces close; several nature reserves 25mins bus; countryside (Cannock Chase) 30mins drive; Peak District 1h15+ (2h train)
Services ✧ bus stop at door direct to town; supermarkets and tram 5mins walk
Access ✧ transit: Wolverhampton 20mins, Birmingham 40mins, airport 1h; London 2h
✦ Would target those preferring to be within easy reach of culture/city whilst attempting to be affordable for long-term use.
✦ Been under offer quite a while, is being sold by the council as apparently were theri old offices, so they be looking for a use proposition that better suits as opposed conversion to flats or whatever.
✦ Due to the upfront capital requirements and suitability for long-term rental it wouldn't work for majority crowdfunding, thus the majority share would have to be allocated to investors, nonetheless the rental revenue (as a dynamic coliving hub) would provide a good return.
✦ 500m2 for common spaces
✦ 28x 17m2 ensuites (would actually be split between smaller standard and slightly larger plus rooms) plus staff rooms
✦ unit ownership at circa €30k+ per room/microstudio; base rents around £275/month (ex costs) matching local long-term rents, if more expensive once common running costs are included, however one of course gains the common facilities
✦ 700m2 of off-road outdoor space for garden and large south-facing conservatory (required in British weather)
✦ backs on to a warehouse, thus would need a wall and soem trees to hide
✦ 11 parking spaces
✦ could probably obtain permission for additional extension at rear, if only for event space which would provide community fund revenue, as if majority stake is investors, there's no surplus for that