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Broad Street, Welshpool SY21 1 bed apartment for sale
42 Broad Street, Welshpool, Powys, SY21 7RR
£230,000
42 Broad Street, Welshpool, Powys, SY21 7RR
£230,000
Our Summary
- Guide Price £230,000 * Plus 5% Buyers Premium + VAT For sale by Unconditional Online Auction on the 29th of January 2025
- EXCELLENT INVESTMENT OPPORTUNITY FOR DEVELOPERS
- PLANNING PERMISSION FOR CONVERSION AND REDEVELOPMENT TO RESIDENTIAL Description We are pleased to offer to the market for sale by online public auction 42 Broad Street, Welshpool, which offers a great opportunity for investors and developers to acquire and renovate an historic building in the centre of Welshpool
- The present owner has acquired planning permission to develop the site into residential apartments
- Planning permission has recently been granted to create four one bedroom apartments (Application 24/0684/FUL) and the vendor advises that permission is likely to be granted for four further one bedroom apartments on submission of a separate application
- Whilst listed for sale by auction, the vendor will consider pre-auction offers above the guide price and so interested
Description
This historic building, formerly Lloyds Bank, is being sold by online public auction on January 29, 2025, with a guide price of £230,000. The property, located in the center of Welshpool, has planning permission to convert and redevelop into residential apartments, offering a great investment opportunity for developers. The main building is vacant and in poor condition, but the rear extension is let as a retail unit, generating £3,600 per annum in rental income. The vendor has obtained planning permission to create eight one-bedroom apartments, with the potential for further development. The property presents a rare opportunity to acquire a prominent town center location with potential for strong rental yields or capital appreciation. Viewings are encouraged to appreciate the scope of the offering, and the vendor will consider pre-auction offers above the guide price.