Summary - 33, MAIN STREET KA15 2AD
1 bed 1 bath Shop
Let at £200pw with basement development potential — auction sale, investor opportunity.
Freehold two-storey Victorian commercial unit on Main Street
A town-centre, two-storey Victorian commercial unit offered freehold and sold at auction — a straightforward acquisition for investors. The property is currently let at £200 per week (£10,400 pa), which against the guide price of £100,000 produces an approximate gross yield of 10.4%, delivering immediate rental income.
Internally the shop is a mid-century styled retail space with worn flooring, exposed utilities and suspended lighting; it will require refurbishment to improve trading or to reposition for higher rent. A large basement and rear access present genuine development upside: a possible conversion to a two-bedroom flat has been suggested, but any change of use or conversion would need formal planning permission and building regulation approval.
Location is a key draw — central on Main Street with excellent mobile signal, fast broadband and close to local amenities and transport links. Counterbalancing factors: the surrounding area is identified as very deprived, which affects tenant mix and long-term demand, and the lot is being sold at auction so purchase timescales are condensed. Buyers should budget for refurbishment and for the usual costs and risks associated with planning-led conversions.
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