Vacant freehold unit with strong conversion and rental potential for investors.
Extensive space: approx. 2,141 sq ft across high‑ceilinged Victorian rooms
A rare, large commercial unit in a prominent Victorian building on Sandgate, offered vacant on freehold at auction. The property extends to about 2,141 sq ft across generous, high‑ceilinged spaces with period features and two separate entrances—useful for sub‑division or dual‑access serviced accommodation. It was previously let to a spa for £15,000 per annum and has a current rateable value of £13,200, giving clear comparable income evidence for investors.
This is a straightforward yield play or conversion opportunity. As a commercial let the unit is estimated to achieve £13,000–£16,000 pa. Alternatively, subject to gaining necessary consents, it may convert to serviced accommodation (two units possible) with an indicative nightly rate of £100–£150; at 70% occupancy that model shows gross income potential in the region of £25,550–£38,325. Broadband and mobile signals are strong and the building sits on a busy town centre junction with nearby on‑street and public parking.
Key risks are practical and regulatory: the property will require renovation and fit‑out for new commercial use or conversion, and planning or licensing consents must be researched and obtained before residential/serviced accommodation use. The surrounding area is identified as very deprived, which can affect demand and pricing dynamics; there may be void periods while works and approvals are secured. Buyers should allow budget and time for conversion works, rates liabilities, and any necessary building upgrades.
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