47 Market Street, Wellingborough, Northamptonshire, NN8 5AU

For sale by public auction

Guide Price £595,000+

The property will be sold by public auction on 30th September at 12:45am

Legal Documents

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Description

Freehold

Rare Substantial Mixed Use Building Measuring Approximately 10,000 sq. ft. - HMO Potential for 16 to 24 Rooms or 12 Flats (Subject to Obtaining Relevant Consents )

A substantial 10,000 sq. ft. mixed-use freehold in the heart of Wellingborough town centre, presenting both an approved residential/commercial scheme and a significant opportunity for large-scale HMO conversion.

Planning consent is in place for five self-contained flats in the upper parts, together with permission to subdivide the ground floor into two commercial units delivering an immediate mixed-use investment base.

Beyond the consented scheme, the building's size and configuration provide clear scope for expansion. A front infill extension and a substantial rear build (as demonstrated by neighbouring properties) could increase capacity to 12 self-contained flats (STPP). Alternatively, the property is exceptionally well suited to a large licensed HMO conversion of 16 to 20 rooms, with potential to extend this further to 20 to 24 rooms with the additional floorspace.

* Illustrative Rental Potential Subject to Consents *

12 flats (with extensions): approx. £95,000£110,000 p.a. gross rent.

16 to 20 room HMO (straight conversion): approx. £103,500£130,000 p.a. (gross yield ~1722%).

20 to 24 room HMO (with extensions): approx. £126,500£143,000 p.a. (gross yield ~2124%).

This rare town-centre freehold offers both a secure investment via the approved flat scheme and exceptional yield potential via HMO reconfiguration providing multiple exit strategies for investors and developers.

Accommodation
Ground Floor

Commercial Space (with potential to split into 2 units, STPP)

First Floor

Approved Planning Permission:

1 x Two-Bedroom Flat

2 x One-Bedroom Flats

Second Floor

1 x One-Bedroom Flat (unmodernised)

Third Floor

1 x One-Bedroom Flat (unmodernised)


Proposed Accommodation Schedule

Ground Floor

2 x Commercial Units (subject to approved split)

Potential conversion of ancillary/rear space for HMO communal facilities (STPP)

First Floor

Approved for 1 x Two-Bedroom Flat

Approved for 2 x One-Bedroom Flats

Alternatively convertible to 6 to 8 HMO rooms with shared kitchens/bathrooms

Second Floor

1 x One-Bedroom Flat (unmodernised)

Alternatively convertible to 4 to 5 HMO rooms

Third Floor

1 x One-Bedroom Flat (unmodernised)

Alternatively convertible to 4 to 5 HMO rooms

Total

5 x Residential Flats (consented scheme)

2 x Commercial Units

OR up to 12 flats with extensions (STPP)

OR 16 to 20 HMO rooms (straight conversion)

OR 20 to 24 HMO rooms with extensions (STPP/licensing)

Location
The property occupies a prominent position on Market Street in the heart of Wellingborough town centre, surrounded by a mix of national and independent retailers, cafs, and local amenities. Wellingborough benefits from strong transport links, with Wellingborough Railway Station approximately 0.8 miles away, providing regular services to London St Pancras International in under an hour. The town is well-served by major road networks including the A45, A509 and A6, linking to the M1 and wider regional centres such as Northampton, Bedford, and Milton Keynes.

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