Need some advice on a property........

[amar1]

Hi all

Basically i have an opportunity to purchase a decent size retail unit that has planning permission for 14 2 bed apartments with parking. Purchasing it should be ok, finances are in place. Raising the money for the build again should be fine.

But this is something that i have never done before so any developers out there who can give this newbie some advice?, any advice or guidence would be GREATLY appreciated as i think it could be great investment for me.

Thanks

[amar1]

Thanks for the replies so far.

Currently retail unit on the site, price is 500k. I guess my main worry is the state of the property market, if i took it on will i be able to get rid of the apartments pretty sharply or another option is to sit on it for few years intially use it as my business premises.........alot to think about but any more comments will be welcomed.

Thanks

Edited by amar1 on Friday 9th November 10:56

[amar1]

Small development accross the road, 5 apartments and currently on sale for 100k but thats a 1 bed. Consent has been given for 2 bed apartments so your guess is as good as mine on the price