Summary - 15 PEN STREET BOSTON PE21 6TJ
1 bed 1 bath Commercial Property
Grade II listed building with car park potential for investors or owner-operators.
- Grade II listed central Boston mixed-use building, freehold and vacant possession
- Gross internal area c.160.7 sqm (1,730 sqft)
- Ground-floor retail sales area approx 37 sqm (395 sqft)
- Two-bedroom duplex above with two reception rooms and modern kitchen
- Rear infill car park for 10+ vehicles; income or redevelopment potential
- 35% overage on land if planning implemented or on future sale (25 years)
- Listed status restricts alterations; may increase repair and consent costs
- Very high local crime rate and area deprivation could affect returns
A substantial Grade II listed mixed-use building in central Boston, offered freehold with vacant possession. The property provides about 160.7 sqm (1,730 sqft) of usable floorspace, combining a ground-floor retail unit (c.37 sqm / 395 sqft) and a two-bedroom duplex apartment over the upper floors. A separate infill parcel currently used as an over-10-space car park sits to the rear and offers income or redevelopment potential subject to planning.
This asset suits an investor or owner-occupier seeking immediate town-centre presence and flexible income options. The building’s period character and generous rooms give appeal in a location with strong pedestrian amenities and convenient transport links. The existing car park could continue to generate income or be explored for higher-value uses, but any planning-led uplift will trigger a 35% overage payable on the land (25-year overage period).
Buyers should factor in the constraints of Grade II listing, which will restrict alteration options and can complicate refurbishment works. The town-centre setting has a very high recorded crime rate and the wider area is economically deprived, which may affect tenant mix, rental levels and insurance costs. The property is EPC-exempt due to its listed status.
Practical points: the freehold is chain-free and VAT is not registered on the owner’s information. Business rates for the car park are reportedly not charged currently; interested parties should verify rateable values and repair liabilities, and obtain professional advice on listed-building consent and redevelopment feasibility before committing.
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