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Former Lloyds Bank, South Molton 9 bed property with land for sale
Former Lloyds Bank, South Molton EX36
£325,000
Former Lloyds Bank, South Molton EX36
£325,000
Our Summary
- A superb development opportunity for conversion/renovation - Former Lloyds Bank, East Street, South Molton
- Planning consent granted in July 2025 for the conversion of the former bank to a retail unit & 2 residential flats together with retention and refurbishment of 1 flat, as follows:-- Ground floor 2 bedroomed apartment with 1 parking space and use of the communal garden extending to about 106 m2 (742 ft2)- First floor front facing 2/3 bedroomed apartment also with 1 parking space and communal gardens, with the accommodation extending to 94 m2 (1,011 ft2)- First and second floor rear facing 3/4 bedroomed duplex/maisonette, with parking and communal garden with the accommodation extending to about 145 m2 (1,560 ft 2) - The ground floor commercial/retail unit extends to about 106 m2 (1,140 ft 2) Projected total rental income circa £40,000-£42,000 per annum on a residential letting basis including the commercial unit
- Investment Opportunity
Description
This former Lloyds Bank building in South Molton offers a unique development opportunity for conversion and renovation. Planning consent has been granted to convert the property into a retail unit and two residential flats, with the option to retain and refurbish an existing flat. The proposed development includes a ground-floor apartment with a communal garden, a first-floor apartment with a front-facing aspect, and a duplex/maisonette on the first and second floors. The ground-floor commercial unit can be let separately, generating a projected annual rental income of £40,000-£42,000. The property is available with no onward chain and benefits from mains water and electricity connections. The current Rateable Value is £13,250 per annum, which would be reassessed if the apartments are used residentially.