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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, a blank canvas, offers vast potential for development and renovation, with approved plans to convert the commercial unit into a bar/restaurant. The property currently comprises a ground-floor pub with a flat above, as well as a second-floor flat. With a guide price of £615,000, the property has an estimated yield potential of 84% if achieved. The property could be converted into a hotel/aparthotel/bed and breakfast, generating over £210,000 a year, or developed into residential properties, potentially achieving a GDV of £1.3 million. The property is being sold with vacant possession, but is currently tenanted, providing a steady income stream. With its prime location near the busy high street and historic harbor, this property is sure to appeal to shrewd investors looking for a high-yielding investment opportunity.