NEW DEADLINE for OFFERS - Friday 17 July 2020 at 5pm - Submit Offer Now >>
***DEVELOPMENT OPPORTUNITY*** Property benefits from planning for the conversion into 4 residential apartments, with scope for another two flats and a commercial unit on the ground floor Subject to researching and gaining necessary consents.
- Property Benefits from Listed Building consents and panning in place. Expected resale for the completed flats would be £360,000 - £380,000. Gross potential resale Value of £580,000 - £600,000.
- Planning reference Number : 15/01132/FULL
- Property is sure to appeal to a vast amount of investors/developers with the potential of great returns available.
- The market town of Brechin is well placed to take advantage of the many sporting pursuits the county of Angus has to offer.
Freehold- Outright ownership of the property and land on which it stands.
Vacant- Full vacant possession offered at time of completion.
Full Details:***DEVELOPMENT OPPORTUNITY*** Property benefits from full planning for the conversion into 4 residential apartments.At present the property comprises ground floor of 2562 (237.99 sq. M) of which the former bank premises occupied an area on the ground floor extending to 1,990 (184.89 sq.M). The upper floors are currently disposed as office accommodation with full planning (ref:15/01132/full) and listed building consents (ref: 15/01132/lbc) for the alteration to form four residential flatted dwellings. The first and second floor office accommodation in total extends to 3,351sq.Ft (311.28 sq.M). This could be an outstanding development opportunity and the seller has advised that the anticipated values of the "first and second floors" comprising the four flats that planning permission has been granted for delivers a potential value of £356,000 and the ground floor premises can either be utilised as a fully commercial / retail unit or have an indicative redevelopment of two x 2 bedroom flats with approx 800 sq ft of commercial/retail space. The redevelopment value of the mixed commercial /residential gf would be approx £230,000 giving a potential overall value of £586,000.
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Map & Location:
Brechin is an attractive town of interesting architecture famous for its Cathedral and its 'Round Tower'. There is a high school and library and a railway station can be found in Montrose, approximately eight miles distant. The A90 passes approximately two miles from Brechin making it suitable for commuting to Aberdeen. Located on the River South Esk is the glorious Howe O' Mearns. For those wishing leisure pursuits, Brechin has its own golf course, leisure centre and there is fishing on the North Esk. The A90 also provides access to the Angus Glens and the University City of Dundee.
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17 July 2020, 5pm
Deadline for Offers