Summary - 12 / 14 Cross Shore St, Greenock PA15 1DY PA15 1DY
1 bed 1 bath Commercial Property
Large open-plan space with two bars and strong rental upside for investors.
Freehold Victorian commercial premises with period stone façade
A substantial vacant Victorian commercial premises in Greenock town centre, offered for sale by auction at a discounted guide price. The property retains period stone façade and high ceilings with a large open-plan main floor currently laid out as entertainment space with two bars, seating areas and ancillary rooms. It is being marketed to investors and operators seeking a town-centre base with immediate upside through refurbishment or re-letting.
The layout includes a main dancefloor, entrance bar, second bar adjacent to the dancefloor, upstairs male and female toilets, cloakroom, office, staff room and an outdoor smoking area. Potential rental income is quoted at £1,800–£2,000 pcm, which equates to a strong gross yield if acquired at the guide price. The site is freehold and benefits from excellent mobile signal and a prominent central location close to transport, retail and leisure amenities.
Buyers should note this property sits in a very deprived local area and will be sold at auction, which can require quick decision-making and pre-arranged finance. The building appears to need modernization to maximise rental or trading income; broadband speeds are average. These facts present both risk and opportunity for an investor prepared to refurbish and actively manage the asset.
This lot suits investors or operators seeking a discounted, central commercial property with character and clear scope for value-add renovation or a change of use (subject to consents). Purchase at or near the guide price offers potential for significant yield improvement after works and professional letting.
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