Summary - Flat 1, 3 Market Square LA18 4HZ
3 bed 1 bath Block of Apartments
Period building with granted consent for two flats — central Millom location..
- Planning permission granted for 1x1-bed and 1x2-bed flats (APPLICATION No: 4/25/2038/0F1)
- Victorian building with high ceilings and period features
- Long lease (981 years) and low ground rent (£150)
- Current footprint includes functioning restaurant and cellar storage
- CEPC rating C; mains gas boiler and radiators in place
- Located on Market Square, limited external/private outdoor space
- Area classed as very deprived with above-average crime rates
- Conversion/refurbishment work required internally; insulation unknown
A three-storey period building in Millom Market Square with planning permission to create two self-contained flats from part of the existing ground-floor restaurant. The property sits on a long lease (981 years) and currently combines a trading restaurant footprint with upper-floor accommodation; generous ceiling heights and original Victorian features are retained, offering characterful living spaces once converted.
This is directly aimed at downsizers or small-scale investors seeking town-centre, low-maintenance accommodation near the Lake District fringe. Planning (APPLICATION No: 4/25/2038/0F1) already grants change of use for 1 x 1-bed and 1 x 2-bed flats, reducing planning risk and accelerating a conversion programme. Energy Performance Certificate rated C and mains gas central heating are practical positives for running costs.
Buyers should note material considerations: the block is leasehold with a small ground rent (£150) and sits in a very deprived area with above-average crime rates, which may affect rental yields or resale. The building is of solid brick, likely with limited wall insulation and will require internal refurbishment to complete the permitted conversions and modernise finishes. Outside space is minimal and outlook is onto the market square rather than open countryside.
For those prepared to manage a conversion and operate in a small-town market, the property offers a rare central site with dual options: reinstate a restaurant business or follow the granted consent to add two flats, capturing local rental demand or creating ready-made sale units.
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