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House of multiple occupation for sale
47 Market Street, Wellingborough, Northamptonshire, NN8 5AU
£595,000
47 Market Street, Wellingborough, Northamptonshire, NN8 5AU
£595,000
Our Summary
- For sale by public auction Guide Price £595,000+ The property will be sold by public auction on 30th September at 12:45am Legal Documents For a complete view of the legal documents, please download the legal pack from our website
- - HMO Potential for 16 to 24 Rooms or 12 Flats (Subject to Obtaining Relevant Consents ) A substantial 10,000 sq
- mixed-use freehold in the heart of Wellingborough town centre, presenting both an approved residential/commercial scheme and a significant opportunity for large-scale HMO conversion
- Beyond the consented scheme, the building's size and configuration provide clear scope for expansion
- A front infill extension and a substantial rear build (as demonstrated by neighbouring properties) could increase capacity to 12 self-contained flats (STPP)
- Alternatively, the property is exceptionally well suited to a large licensed HMO conversion of 16 to 20 rooms, with potential to extend this further to 20 to 24 rooms with the additional floorspace
- * Illustrative Rental Potential Subject to Consents * 5 flats (approved scheme): approx
- This rare town-centre freehold offers both a secure investment via the approved flat scheme and exceptional yield potential via HMO reconfiguration providing multiple exit strategies for investors and developers
- Accommodation Ground Floor Commercial Space (with potential to split into 2 units, STPP) First Floor Approved Planning Permission: 1 x Two-Bedroom Flat 2 x One-Bedroom Flats Second Floor 1 x One-Bedroom Flat (unmodernised) Third Floor 1 x One-Bedroom Flat (unmodernised) Proposed Accommodation Schedule Ground Floor 2 x Commercial Units (subject to approved split) Potential conversion of ancillary/rear space for HMO communal facilities (STPP) First Floor Approved for 1 x Two-Bedroom Flat Approved for 2 x One-Bedroom Flats Alternatively convertible to 6 to 8 HMO rooms with shared kitchens/bathrooms Second Floor 1 x One-Bedroom Flat (unmodernised) Alternatively convertible to 4 to 5 HMO rooms Third Floor 1 x One-Bedroom Flat (unmodernised) Alternatively convertible to 4 to 5 HMO rooms Total 5 x Residential Flats (consented scheme) 2 x Commercial Units OR up to 12 flats with extensions (STPP) OR 16 to 20 HMO rooms (straight conversion) OR 20 to 24 HMO rooms with extensions (STPP/licensing) Location The property occupies a prominent position on Market Street in the heart of Wellingborough town centre, surrounded by a mix of national and independent retailers, cafs, and local amenities
Description
This rare, substantial mixed-use freehold building in Wellingborough town centre is being sold by public auction on September 30th. The property spans approximately 10,000 square feet and has planning consent for five self-contained flats on the upper floors, with the potential to subdivide the ground floor into two commercial units. Beyond the consented scheme, the building's size and configuration allow for expansion, making it suitable for a large-scale HMO conversion of 16 to 24 rooms, with potential for further extension. The property offers a secure investment via the approved flat scheme and exceptional yield potential via HMO reconfiguration, providing multiple exit strategies for investors and developers. With its prominent location on Market Street, the property is surrounded by a mix of national and independent retailers, cafes, and local amenities, and benefits from strong transport links to London and other regional centres.