Three-bedroom former bank with flats

An imposing freehold former bank premises of approximately 3,619 sq ft occupying a prominent position in a popular Somerset market town. Set on a large plot of approximately 0.25 acres, the property features off-street parking to the front along with a large rear garden and garage. The ground floor commercial premises has been let for many years and is now vacant, offering scope for continued commercial use or residential development. There is a proposed scheme for the ground floor to be developed into four self-contained flats with rear parking spaces, comprising Flat 1 (approx. 710 sq ft, 2 bed, 2 bath), Flat 2 (approx. 497 sq ft, 1 bed, 1 bath), Flat 3 (approx. 490 sq ft, 1 bed, 1 bath), and Maisonette 4 (approx. 526 sq ft, 1 bed, 1 bath) - all subject to gaining the necessary planning consents. The first floor is arranged as three large self-contained one-bedroom flats currently generating £27,900 per annum in rental income (Flat 1 let at £675 pcm since July 2025; Flat 2 let at £750 pcm with notice served to vacate and will not be relet; Flat 3 let at £700 pcm with a scheduled increase to £900 pcm in January 2027). The units are sold subject to existing tenancies converting to assured periodic tenancies. Externally, the property benefits from a communal rear garden, an unlet garage offering scope for additional income, and a driveway with potential for additional parking or development, subject to consents. Situated close to Market Street and the main shopping area in Highbridge, the property is positioned on Huntspill Road, part of the A38 trunk road to the South West. It enjoys close proximity to junction 22 of the M5 (a 5-minute drive) and junction 23 (5 miles away) serving Hinkley Point C. Highbridge main line railway station is a 3-minute walk away, providing links across the country, and Bristol Airport is approximately 16 miles distant.