Property 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 6BH
previously 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.
For rental purposes, once refurbished the property could achieve £1100- 1200 per month for both units. This could provide an annual income of £13,200- - £14,400 which could provide a fantastic gross yield of 14- 16% if achieved for the guide price of £89,000
Property is sure to appeal to investors looking for large commercial lot with living quarters adjoining the premises. 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.
Residential Unit - 2 storey, 2 bed apartment with direct access at the side rear of the building. Property also boasts a kitchen, dining and living area, 1 bathroom and a garage at the top of a private driveway.
Kitchen, dining area and and living area to the rear of the shop on the ground floor. The floor above comprises 2 bedrooms, 1 bathroom. A side door provides access directly to the residential unit.
Visualise the space with a 3D tour of the property:
https://my.matterport.com/show/?m=UPhWpfSqDri
Property is due to go to auction for our upcoming timed online event. Be sure to register to not miss out. Should you wish to make an immediate offer you can do so. Please contact the team to discuss how to make an offer today.
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.
Location:
Located in the rarely available but much sought after village of Binbrook, the location boasts an idyllic surrounding, being nestled in the depth of the Lincolnshire Wolds but remains only a short commute to the popular market town of Louth while also enjoying close links with both Lincoln and Grimsby where required. The village itself has a host of amenities including a doctors surgery with pharmacy. primary school and early learning centre amongst other shops and services.
