Auction opportunity with conversion potential and immediate letting prospects for hands-on investors.
- Large commercial unit: 2,140.94 sq ft (198.90 sq m)
- Previously let to a spa at £15,000 per annum
- Vacant on sale and offered at auction, guide price £60,000
- Potential rental income £13,000–£16,000 per year
- Conversion to serviced accommodation possible, subject to consents
- Two separate entrances suitable for splitting into units
- Located in a very deprived area; planning and demand risk
- Likely requires refurbishment and permissions for residential use
A substantial 2,140.94 sq ft commercial unit in a prominent Sandgate building, offered vacant and sold at auction. Previously let to a spa at £15,000 pa and with a current rateable value of £13,200, the property offers immediate letting potential or conversion upside.
Presented as a flexible investment, the unit could realistically attract an annual commercial rent of £13,000–£16,000 at guide price £60,000. Alternatively, subject to planning and necessary consents, the space has the physical scope and two separate entrances to be converted into serviced accommodation or split into residential units, with projected gross income (at 70% occupancy and £100–£150 nightly rates) of approximately £25,550–£38,325.
Buyers should note material considerations: the building sits in a very deprived area and will require due diligence on planning, licensing and any refurbishment works. The property is part of a mixed-use Victorian block, so conversion will need formal consents and likely investment in works to meet residential standards and safety requirements.
This is a clear, high-potential opportunity for investors or developers who can manage planning risk and refurbishment. With excellent mobile and broadband connectivity, on-street parking nearby and a prominent town-centre position, the site suits those targeting leisure-led lets, serviced accommodation or a medium-term refurbishment-and-let strategy.
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