Summary - Drapery, Northampton, NN1 NN1 2EU
3 bed 3 bath Commercial Development
Income-producing retail with planning for three one-bed flats in prime town centre..
- Prime town-centre location on busy high street
- Ground-floor retail unit currently let, immediate income
- Full planning permission for 3 x 1-bedroom apartments (WNN/2021/0251)
- Freehold with large plot and rooftop solar panels
- Aging building; refurbishment and fit-out required upstairs
- Very high local crime and very deprived area
- Inner-city cosmopolitan location with excellent transport links
- Schools nearby include both Good and Inadequate Ofsted ratings
A rare mixed-use freehold in Northampton town centre offering immediate commercial income plus approved residential conversion. The ground-floor retail unit is let, delivering cashflow from day one, while full planning permission (WNN/2021/0251) covers conversion of upper floors into three self-contained one-bedroom apartments.
The property sits on a large town-centre plot with strong footfall, roofspace already fitted with solar panels, and a prominent Victorian façade that will appeal to buyers seeking character-led developments. Dual-income potential gives flexibility: hold for rental yield or complete the residential conversion and realise capital value through resale or lettings.
Buyers should note material negatives: the area records very high crime levels and is in a very deprived ward, which can affect rental values and management costs. The building is aging and will require refurbishment and fit-out work to create the apartments and to modernise upper floors; capital and letting budgets should reflect this.
This opportunity suits experienced investors or developers who want an income-producing asset with ready planning consent in a busy urban location. With planning in place and an operational commercial tenant, the site offers a clear, actionable route to increased returns once conversions are completed.
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