Summary - 7, LANCASTER SQUARE LL32 8HT
1 bed 1 bath Commercial Property
Three-storey mixed-use with immediate income potential.
Freehold mixed-use building in central Conwy
A compact, freehold mixed-use building in the heart of Conwy, currently producing a headline rent of £26,200 per year. The property comprises a ground-floor retail unit (currently let to a florist), plus two self-contained one-bedroom flats on the upper floors. Both flats have modern kitchens and bathrooms and gas central heating; one flat is currently vacant and offers immediate re-letting potential.
The building’s period granite façade and prominent shopfront give strong street visibility and a clear retail presence on a busy square. Construction predates 1900 and the building benefits from double glazing and mains gas central heating; there is no flood risk and mobile signal and broadband are good for the area.
Key investor advantages are the freehold title, a diversified tenant mix and immediate income with scope to increase returns by re-letting the vacant flat. Material considerations include an EPC rating of D for the flats, a short three-year lease on the shop (started Feb 2024), and the property’s location within a very deprived area with above-average crime statistics. Original granite walls are likely uninsulated, and the footprint is compact, so large-scale expansion is limited.
Suitable for a buyer seeking a low-maintenance, centrally located rental asset with short-term reversion potential. Prospective purchasers should factor in typical period-property maintenance, potential energy-improvement costs, and the local market characteristics when calculating future yields.
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