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Property for sale
Howgate Kirk, Penicuik EH26
£575,000
Howgate Kirk, Penicuik EH26
£575,000
Our Summary
- Prime Property Auctions is excited to present this exceptionally rare, Church Development Opportunity located within a prime location in Howgate - GUIDE PRICE £575,000
- * MASSIVE GDV POTENTIAL OF £5,000,000*The church has potential to be developed into 6 - 8 residential flats which could be turned into serviced apartments
- 9 Acres (19,860m2), there is potential to build 6 - 8 houses
- Subject to necessary planning and consents
- Subject to necessary licensing and consents
- * RARE AUCTION PROPERTY *Prime Property Auctions is excited to present this exceptionally rare, Church Development Opportunity located within a prime location in Howgate - GUIDE PRICE £575,000
- Sure to appeal to builders/investors/developers looking for a rare opportunity to restore a beautiful historic building and develop a large plot of land within a sought after rural village
- * POTENTIALLY HIGH YIELDING OPPORTUNITY ** RARE AUCTION PROPERTY *Situated over a site area of approximately 4
Description
Prime Property Auctions presents a rare church development opportunity in Howgate, Midlothian, with a guide price of £575,000. The church, situated on a 4.9-acre site, has potential to be developed into 6-8 residential flats or 6-8 houses, subject to necessary planning and consents. This could generate a massive GDV of over £5 million, with fantastic sales evidence to support. The property has a car park and is situated in a prime location with transport links to Edinburgh and close to local amenities. If converted to serviced apartments, each property could command £195 per night, generating £398,580 per annum and a gross yield of 69.3%. The property is a rare opportunity for developers and investors to restore a historic building and develop a large plot of land in a sought-after rural village.