Investment property with development potential

Tenanted commercial premises with previous planning permission for partial conversion to residential, located within a prime location in Kilbirnie, Ayrshire. The property comprises a welcoming entrance, a large open floor area perfect for versatile use, a spacious basement, a convenient storage room, and an attic conversion. Additionally, it includes a well-appointed toilet. The property previously had planning permission for a change of use from a retail unit to a residential unit, including the installation of one rooflight at the front and one rooflight, along with a window at the rear (application 20/00451/PP). This property is tenanted at £600 per month, generating an annual income of £7,200 and representing a 12% yield if purchased at the guide price. This property is a fantastic opportunity for an ambitious investor looking for the next project, offering a turnkey investment with great rental potential and capital growth upside. The property requires renovation to fulfil its full potential and, if utilised as a serviced accommodation unit, could achieve £170 per night based on local comparables, generating an impressive £43,435 based on a 70% occupancy rate. The property is being offered at a fantastic discount to ensure a sale and should appeal to anyone looking for a straightforward purchase with excellent upside potential. Excellent sales evidence in the area includes 32-34 Holmhead, Kilbirnie KA25 6BS sold for £250,500, 34 Newton Street, Kilbirnie KA25 6HW sold for £182,000, and 49 Holmhead, Kilbirnie KA25 6BS sold for £204,049. Kilbirnie, located in Ayrshire, offers a charming blend of history and modern living. Surrounded by picturesque countryside, it is a vibrant community with local amenities, schools, and excellent transport links to nearby cities, making it a desirable destination for residents and investors alike.