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Property for sale
High Street, Banff, AB45
£65,000
High Street, Banff, AB45
£65,000
Our Summary
- Prime Development Opportunity: High Street Retail Unit with Residential Conversion ApprovalLocation: Banff, Aberdeenshire, ScotlandAvailable for Immediate PurchaseAre you seeking a lucrative investment in Banff's thriving town center
- Versatile Zoning: Planning permission secured for conversion to a retail unit on the street level, complemented by nine residential properties to the rear
- Unit Composition:• development opportunity in Banff town center
- 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 BedroomUnit 2 - 2 BedroomUnit 3 - 1 BedroomUnit 4 - 1 BedroomUnit 5 - 1 BedroomUnit 6 - 1 BedroomUnit 7 - 3 Bedroom with Roof TerraceUnit 8 - 3 Bedroom with Roof TerraceUnit 9 - 3 Bedroom with Roof Terrace• • Planning link: • Explore the potential of this exceptional project
Description
This prime development opportunity in Banff, Scotland, presents a rare chance for investors and developers to capitalize on the town's thriving town center. The property, a large vacant high street retail unit, has planning permission to be converted into a retail unit on the street level and nine residential properties to the rear. With an estimated rental income of £100,000 per annum, this project offers substantial returns on investment. The unit is situated in a desirable location, offering a vibrant community, scenic walking areas, and a charming harbor. The estimated building cost is £570,000, with a Gross Development Value (GDV) estimate of £1,100,000, making it an attractive opportunity for those looking to shape Banff's landscape and reap rewards.