Howgate Church, Penicuik, EH26 8QB
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Prime Property Auctions is excited to present this exceptionally rare, Church Development Opportunity located within a prime location in Howgate - GUIDE PRICE £575,000. *** MASSIVE GDV POTENTIAL OF
- The church has potential to be developed into 6 - 8 residential flats which could be turned into serviced apartments. Situated over a site area of approximately 4.9 Acres (19,860m2), there is potenti
- If converted to serviced apartments, each property could command £195 per night, generating £398,580 per annum and a gross yield of 69.3%, based on an 70% occupancy rate and 8 dwellings. Subject to
- *** Howdum, Penicuik, Midlothian, EH26 8QE, Sold for £520,000 in September 2023, Mossbank, Howgate, Penicuik, EH26 8QB Sold for £495,000 in January 2010, 3, Fallhills Court, Penicuik, Midlothian, E
- Property is conveniently located with fantastic transport links to Edinburgh and is situated close to local amenities. *** RARE AUCTION PROPERTY ***
Description
- Prime Property Auctions is excited to present this exceptionally rare, Church Development Opportunity located within a prime location in Howgate - GUIDE PRICE £575,000.*** MASSIVE GDV POTENTIAL OF £5,000,000***
- The church has potential to be developed into 6 - 8 residential flats which could be turned into serviced apartments. Situated over a site area of approximately 4.9 Acres (19,860m2), there is potential to build 6 - 8 houses. Subject to necessary planning and consents. This would generate a POTENTIAL IMPRESSIVE GDV of over £5,000,000, with fantastic sales evidence to Support. *** SURE TO APPEAL TO A SHREWD DEVELOPER ***
- If converted to serviced apartments, each property could command £195 per night, generating £398,580 per annum and a gross yield of 69.3%, based on an 70% occupancy rate and 8 dwellings. Subject to necessary licensing and consents. *** POTENTIALLY HIGH YIELDING OPPORTUNITY ***
- *** Howdum, Penicuik, Midlothian, EH26 8QE, Sold for £520,000 in September 2023, Mossbank, Howgate, Penicuik, EH26 8QB Sold for £495,000 in January 2010, 3, Fallhills Court, Penicuik, Midlothian, EH26 8QE Sold for £485,000 in August 2021 ***
- Property is conveniently located with fantastic transport links to Edinburgh and is situated close to local amenities. *** RARE AUCTION PROPERTY ***
Prime Property Auctions is excited to present this exceptionally rare, Church Development Opportunity located within a prime location in Howgate - GUIDE PRICE £575,000. *** MASSIVE GDV POTENTIAL OF £5,000,000***
The church has potential to be developed into 6 - 8 residential flats which could be turned into serviced apartments. Situated over a site area of approximately 4.9 Acres (19,860m2), there is potential to build 6 - 8 houses. Subject to necessary planning and consents. This would generate a POTENTIAL IMPRESSIVE GDV of over £5,000,000, with fantastic sales evidence to Support. *** SURE TO APPEAL TO A SHREWD DEVELOPER ***
Property Comprises: Entrance porch, Nave, clerestory, 2 WC's, a kitchen, a large community room and multiple storage rooms throughout. The property has a car park to the left of the entrance and is situated over a MASSIVE SITE AREA of 4.9 Acres.
Sure to appeal to builders/investors/developers looking for a rare opportunity to restore a beautiful historic building and develop a large plot of land within a sought after rural village.
If converted to serviced apartments, each property could command £195 per night, generating £398,580 per annum and a gross yield of 69.3%, based on an 70% occupancy rate and 8 dwellings. Subject to necessary licensing and consents. *** POTENTIALLY HIGH YIELDING OPPORTUNITY ***
*** RARE AUCTION PROPERTY ***
Situated over a site area of approximately 4.9 Acres (19,860m2), there is potential to build 6 - 8 houses. Subject to necessary planning and consents. This would generate a POTENTIAL IMPRESSIVE GDV of over £5,000,000, with fantastic sales evidence to Support. *** SURE TO APPEAL TO A SHREWD DEVELOPER ***
For the purpose of converting the property to residential units, the area has some remarkable sales comparables for properties in the area.
Sold Comparables:
*** Howdum, Penicuik, Midlothian, EH26 8QE, Sold for £520,000 in September 2023, Mossbank, Howgate, Penicuik, EH26 8QB Sold for £495,000 in January 2010, 3, Fallhills Court, Penicuik, Midlothian, EH26 8QE Sold for £485,000 in August 2021 ***
Rare opportunity to restore a piece of history.
Location:
Nestled in the charming rural hamlet of Howgate, Midlothian, this property offers an exceptional opportunity for those seeking a serene countryside lifestyle without sacrificing convenience. Howgate is renowned for its idyllic surroundings, with expansive rolling hills and picturesque farmland creating a tranquil backdrop. The peaceful setting is perfect for those who appreciate the beauty of rural living, with nature trails and open spaces right on your doorstep.
Despite its quiet atmosphere, Howgate is just a short drive from the nearby town of Penicuik, where you'll find a wide range of local amenities including supermarkets, restaurants, schools, and healthcare facilities. Edinburgh, with its vibrant cultural scene, shopping, and business hubs, is also easily accessible by car, making this property ideal for commuters looking to escape the city's pace while remaining well-connected.
This property presents a rare opportunity to enjoy the best of both worlds — a relaxed, rural environment combined with proximity to modern conveniences. Whether you're a family looking for space to grow, professionals in search of a retreat, or retirees seeking a quiet and scenic home, this Howgate location offers something for everyone. The surrounding Midlothian countryside provides countless opportunities for outdoor activities such as hiking, cycling, and exploring the area's rich history.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Yes
- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Howgate Church, Penicuik, EH26 8QB
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Visit our security centre to find out moreDisclaimer - Property reference 210870915. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Prime Property Auctions (Scotland) Ltd, Glasgow. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Prime Property Auctions (Scotland) Ltd, Glasgow on 0141 465 5880.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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