Summary - 5, COLONADE NG20 8BL
1 bed 1 bath Retail Property (high street)
Large plot with garages and separate rear workshop ideal for investors or redevelopment.
Freehold mixed-use high-street building with retail and residential above
A substantial freehold mixed-use building on Colonade, combining a ground-floor shop with three-bedroom accommodation above and an old two-storey workshop/cottage at the rear. The retail unit offers generous floor area (previously used as a post office) with a separate safe room and direct street frontage — useful for a continuing business, rental income or conversion to alternative commercial uses. The first- and second-floor residential space is bright, with large bay windows, double glazing throughout and family-sized rooms, while outside there is a gated driveway, ample rear parking and two garages.
The site is extremely large for a high-street plot and presents clear income or development potential: keep the mixed-use setup for rental yield, subdivide, or refurbish and sell. The rear cottage/workshop provides additional flexibility — subject to planning — for storage, workspace or a separate let. Practical advantages include double glazing, fast broadband speeds and very cheap council tax (Band A).
Buyers should be aware this property requires some modernisation and refurbishment throughout. The building sits in a deprived area with higher local crime rates and an EPC rating is to be confirmed, which may affect mortgage or tenancy prospects until updated. The property is offered as freehold and will suit investors or owner-occupiers comfortable with a renovation project in a hard-pressed market looking for long-term upside.
Viewing is recommended to appreciate the size, layout and potential of the plot and ancillary buildings. Financial and planning checks are advised if considering conversion or redevelopment given the mixed-use nature and local area characteristics.
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