Property for sale
Property description & features
- Status: Available
- Type: Commercial
- Ownership: Freehold
- Occupation: Vacant
- AUCTION DATE: 20 June 2024
Reduced Buyers Fee: 3% of Sale Price (Min £3250 +vat)
* PRIME DEVELOPMENT OPPORTUNITY * FULL PLANNING GRANTED for RETAIL UNIT and 9 RESIDENTIAL PROPERTIES. Application no. APP/2022/0909 SUIT SHREW INVESTOR OR DEVELOPER (GDV) estimate of £1,100,000 * LUCRATIVE INVESTMENT * in thriving Banff. Substantial vacant high street retail unit encompassing approx. 745.2sqm, this property presents a rare chance for astute investors and developers. Estimated rental income of £100,000 per annum with full occupancy, providing a lucrative revenue stream for investors. Please see Aberdeenshire Council Planning portal application no: APP/2022/0909. Key Features: Versatile Zoning: Planning permission secured for conversion to a retail unit on the street level, complemented by nine residential properties to the rear. 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. Desirable Location: Situated in Banff's historic town centre, offering a vibrant community, scenic walking areas, sandy beaches, and a charming harbour. 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: Property consists of:- Development opportunity in Banff town centre. 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 Currently consists of Ground Floor 328.42 sq m Lower Ground 285.22sq m Mezz 95sq m 1st floor 49.27 sq m.
Auction Details
20 June 2024, 3pm
Deadline for Offers
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Broadband availability and predicted speed
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