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Commercial Property for sale

*** FREEHOLD DEVELOPMENT OPPORTUNITY ***

Withdrawn from Market £695,000

Property Description

Key features

  • FREEHOLD
  • Planning for 6 flats applied for
  • Development Opportunity
  • Town Centre Location
  • Mixed Use
  • Rental Income: £51,100
  • Rental Potential: £84,000
  • Both Commercial Properties LET

Full description

Belvoir Commercial bring to the market the Freehold of this mixed-use grade 2 listed property with PLANNING APPROVAL for conversion of upper floors into 6 FLATS, presently split into 2 commercial units, offices above and a 3 bed flat on the top floor (presently achieving £9600pa). Planning permission has been applied for, for the conversion of the upper floors (and an extension to the rear) into a total of 6 residential flats.

The property is presently achieving an annual rental income of £47,100 (6.78% yield), but if the conversion took place, this would increase to circa £84,000 once the flats were completed and rented.

This would be a fantastic opportunity for a developer to acquire a property with much of the planning work under way already.

For more information or to book an internal viewing, please contact the commercial team to arrange.


More information from this agent

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