High Street, Banff, Banffshire
£100,000
Full Description
Prime Development Opportunity: High Street Retail Unit with Residential Conversion Approval
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: https://upa.aberdeenshire.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=RAJHN6CAG3M00
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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 07986371559
[email protected]
Council tax band: C
Features
- 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
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