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Harbour Place, Burntisland KY3 Mixed use for sale

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Harbour Place, Burntisland KY3 Mixed use for sale

Harbour Place, Burntisland KY3
£175,000

Our Summary

  • We are excited to present this fantastic mixed use investment opportunity
  • PRIME DEVELOPMENT OPPORTUNITY2, Galahill, Lammerlaws, Burntisland, Fife KY3 9BS sold for £615,000
  • Excellent yield potential of 84% if achieved for guide price HIGH YIELDFor those looking for a great project with vast potential to add value and still have high cashflow after refinance BRRR STRATEGYThe property is situated near Burntisland's busy high street, benefiting from large daily footfall
  • PRIME DEVELOPMENT OPPORTUNITYProperty is a blank canvas with so many potential opportunities
  • Established use for the commercial unit as a bar with planning approved to convert into a bar/ restaurant
  • The property could be fully converted into a commercial and run as a hotel/ aparthotel/ bed and breakfast which could achieve £75 per room per night subject to planning
  • There would be potential to renovate the pub/restaurant or to add even more bedrooms
  • If fully converted into residential properties there is scope to finish with 3 x 4 bed flats, and 2 x 3 bed flats to develop and flip 19, Craigkennochie Terrace, Burntisland, Fife KY3 9EN (3 bed flat) sold for £257,000 in May 2024
  • Meaning a GDV of £1,300,000 HUGE PROFIT If held and rented out they could achieve a combined rental income of £50,400 HIGH CASHFLOWING INVESTMENTFor those looking for a great project with vast potential to add value and still have high cashflow after refinance BRRR STRATEGYThe property will be sold with vacant possession however the 3 ensuite bedrooms are currently tenanted at £40 per room per night and the 4 bedroom flat is currently being rented out at £800 PCM
  • Sure to appeal to shrewd buy to let investors looking for a fantastic commercial and residential investment opportunity with high yield potential
  • Great opportunity for owner occupiers looking for a property they can put their own stamp on
  • This property is offered at a fantastic price to ensure an Auction sale
  • The property will feature in our upcoming timed online auction
  • To participate in the live auction, you must have a bidding account created
  • For those looking for a great project with vast potential to add value and still have high cashflow after refinance BRRR STRATEGY
  • PRIME DEVELOPMENT OPPORTUNITY

Description

This is a prime mixed-use investment opportunity in Burntisland, Fife, Scotland. The property is a blank canvas with potential for various uses, including a commercial unit with planning approved for a bar/restaurant, as well as two residential flats. The commercial unit has a current yield of 84% if achieved at the guide price, and there is scope to add value by renovating or converting the property. The property is situated near the town's busy high street, benefiting from large daily footfall. The current 11 bedrooms could be occupied at 70% to generate over £210,000 per year, or the property could be fully converted into a commercial and run as a hotel/aparthotel/bed and breakfast. The property is being sold with vacant possession, but the 3 ensuite bedrooms are currently tenanted and the 4-bedroom flat is being rented out. With a guide price of £565,000, this property offers a fantastic yield potential and is sure to appeal to shrewd investors looking for a great project with vast potential to add value and generate high cash flow.