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2 bedroom detached house for sale
High St, Binbrook LN8
£89,000
High St, Binbrook LN8
£89,000
Our Summary
- Prime Property Auctions is excited to present a spacious mixed use opportunity in Binbrook, Market Rasen with a guide price of £89,000*Malabar, High Street, Binbrook, Market Rasen, LN8 6BH, previously sold for £175,000 in 2023, Wesley Mount, High Street Binbrook, Market Rasen, LN8 6BHpreviously sold for £140,00 in 2019 *Exceptional investment opportunity for a shrewd investor, Hugely discounted refurbishment opportunity with potential for development into multiple units subject to necessary planning permission
- Potential to split into 2 separate units and for further development on the land to the rear of the property
- Commercial Unit - previously operating as a Spar Store, spacious 30sqmt space with potential to be converted into large living space or revived for commercial use
- Visualise the space with a 3D tour of the property:Property is due to go to auction for our upcoming timed online event
- Property is discounted to ensure an auction sale
- * Great opportunity to add value*Sure to appeal to shrewd investors looking for a great investment opportunity
Description
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Here is a summarized version of the property description in a single paragraph:
This mixed-use property in Binbrook, Market Rasen, is a rare investment opportunity with a guide price of £89,000. The property has a commercial unit, previously a Spar Store, and a 2-bedroom residential apartment above, with potential to be developed into multiple units subject to planning permission. The property could generate a gross yield of 14-16% if rented out at £1,100-£1,200 per month. With a discount from its previous sale price of £175,000 in 2023, this property is sure to appeal to shrewd investors. The location is idyllic, with a short commute to Louth, Lincoln, and Grimsby, and offers a range of amenities including a doctor's surgery, primary school, and shops.