Property for sale
Property description & features
- Tenure: Freehold
- Planning permission secured for conversion into a retail unit on the street level and nine residential properties, catering to diverse investment strategies.
- Estimated rental income of £66,000 per annum with full occupancy, providing a lucrative revenue stream for investors.
- Ideal for investors, developers, or entrepreneurs seeking to capitalize on Banff's growth potential and shape the town's evolving landscape
Location: Banff, Aberdeenshire, Scotland
Available for Immediate Purchase
Are you seeking a lucrative investment in Banff's thriving town center? Look no further than this remarkable development prospect. With a substantial vacant high street retail unit encompassing approximately 745.2sqm, this property presents a rare chance for astute investors and developers.
Key Features:
1. Versatile Zoning: Planning permission secured for conversion to a retail unit on the street level, complemented by nine residential properties to the rear.
2. Income Potential: Estimated rental income of £100,000 per annum with all units occupied. £18.000 for the Commercial unit. And around £80.000 when all residential units are rented.
3. Desirable Location: Situated in Banff's historic town center, offering a vibrant community, scenic walking areas, sandy beaches, and a charming harbor.
4. Projected Returns: Building cost estimate of £570,000 with a Gross Development Value (GDV) estimate of £1,100,000, ensuring substantial returns on investment.
Unit Composition:
• development opportunity in Banff town center. Currently a large empty commercial unit of circa 745.2sqm, the property has permission in place for change of use to form a retail unit on the street and 9 residential units to the rear, consisting of:
Unit 1 - 2 Bedroom
Unit 2 - 2 Bedroom
Unit 3 - 1 Bedroom
Unit 4 - 1 Bedroom
Unit 5 - 1 Bedroom
Unit 6 - 1 Bedroom
Unit 7 - 3 Bedroom with Roof Terrace
Unit 8 - 3 Bedroom with Roof Terrace
Unit 9 - 3 Bedroom with Roof Terrace
• • Planning link: •
Explore the potential of this exceptional project. Whether you're an investor, developer, or entrepreneur, this is a rare opportunity to shape Banff's landscape and reap substantial rewards.
For inquiries or to schedule a viewing, please contact[use Contact Agent Button]
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Council tax band: C
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Property reference ZAouaneKW0003494070. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Keller Williams - Scotland.
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
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Energy Performance data and Internal floor area
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