Derelict land in busy Northampton town centre street goes up for sale again – this time for £1.8 million
A plot of land in a busy street in Northampton town centre has been listed for sale at £1.8 million.
The land, previously the site of St Giles Sexual Health Clinic on St Giles Street, has re-entered the market.
The site is currently derelict and has been ever since the clinic closed its doors over a decade ago.
The site boasts planning permission for the development of 60 one-bedroom apartments within a four-storey building, alongside two commercial units at ground level. Despite these attractive prospects, the land has struggled to find a buyer, being listed multiple times in recent years.
In 2020, the plot was priced at £3 million, and in 2021, it was listed for £1.25 million. However, the property has remained vacant and undeveloped throughout this period.
Property agents highlight several features for potential buyers: planning approval for 60 apartments, a ‘superb’ town centre location perfectly situated for the town, train station, and Northampton Hospital, and two retail units on the ground floor. They also emphasise the ‘unique development and investment opportunity’, with a Gross Development Value (GDV) of approximately £9.5 million plus the retail units. In simple terms, the GDV represents the total value of the project once all the apartments and retail spaces are completed and sold. This figure helps potential investors understand the potential profitability of the development.