Market Place, Retford, DN22

A fantastic opportunity to acquire and develop a substantial 3 storey mixed use property, overlooking Retford’s heavily pedestrianised market square. The property benefits from immediate vacant possession and is business rates exempt until the property is developed. Post development income potential of this hybrid use property is strong.

PLANNING PERMISSION HAS BEEN GRANTED FOR THE FOLLOWING SCHEME:

Planning Reference: 24/00124/PDN (expires July 2027)

Ground Floor:

To convert the rear section of the ground floor area (approx. 56M2 / 602Ft2) into a TWO DOUBLE BEDROOM apartment, briefly comprising of an entrance hall, open plan kitchen dining living space, inner hallway, master bedroom, further sizeable bedroom and a family bathroom.

To renovate the front section of the ground floor for retail commercial use (approx. 49M2 / 530Ft2).

First Floor:

To change the use of the current first floor (approx. 110M2 / 1184Ft2) into a HMO with FOUR DOUBLE BEDROOMS, briefly comprising of an open plan kitchen dining living space, utility area, inner hallway, master bedroom, further sizeable bedroom and a family bathroom.

Second Floor:

To renovate the existing space (approx. 70M2 / 754Ft2) and establish a new HMO / apartment with TWO BEDROOMS, lounge, diner and family bathroom.

Outside:

There is also a large garden area to the rear of the property measuring approx. 121M2 / 1,300 Ft2.

Income:

The post development income for this scheme is estimated to produce a net yield of between 9.6% and 12.3%.

This approved scheme can be varied to increase the commercial / residential ratio via an amendment application to Bassetlaw District Council, should this be required.

Tenure:

Freehold- Vacant possession will be given upon completion.

VAT:

VAT is chargeable on the final sale price.

Legal Costs:

Each party to pay their own.

Disclaimer

General: Whilst we endeavour to make our sales particulars fair, accurate & reliable, they are a general guide only. If a point is of particular importance, please let us check the position for you, especially if you plan to travel some distance for a viewing.

Services: Please note we have not tested the services, or appliances present. We advise prospective buyers to commission their own survey or service reports, before finalising their purchase.

Measurements: These room sizes are only a guide. You must verify the dimensions carefully before ordering carpets & furniture.

MONEY LAUNDERING REGULATIONS: Purchasers will be asked to produce identification documentation, & we ask for your co-operation to avoid delays.

Particulars: THESE PARTICULARS ARE ISSUED IN GOOD FAITH, BUT THEY DO NOT CONSTITUTE FACT. BUYERS SHOULD VERIFY ALL DETAILS INDEPENDENTLY. ALEXANDER JACOB LIMITED NOR ITS AGENTS CAN MAKE ANY REPRESENTATIONS OR PROVIDE ANY WARRANTIES IN RELATION TO THIS PROPERTY.