The Brandon Street site is on the market with a guide price of £72,000 and is set to go under the hammer at an online auction on April 29.
A Motherwell town centre property is up for sale with potential to convert into flats.
The Brandon Street site is on the market with a guide price of £72,000 and is set to go under the hammer at an online auction on April 29.
The property is being managed by Town & Country Property Auctions, based in Chester and is being shown on property website, Rightmove.
Writing on the website, Town & Country Property Auctions state: “There is strong potential for conversion into four 2-bedroom flats and one 1-bedroom flat, with layout feasibility supported by architectural input, giving confidence in the development opportunity (subject to planning).
“Alternatively, the property may suit residential units or continued use as office suites.
“From an income perspective, four 2-bedroom flats are estimated to achieve £750 per month each, with the 1-bedroom flat achieving £600 per month, generating a total of £3,600 per calendar month (£43,200 per annum).
“For serviced accommodation, each unit is projected to generate approximately £24,000 per annum based on a £98 average daily rate and 68% occupancy, equating to a total potential income in excess of £120,000 per annum across five units.
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“The asset is well suited to a range of strategies including flat conversion, HMO, or commercial use (subject to planning).
“Located on Brandon Street, the property is within walking distance of the high street, supermarkets, schools, and colleges, with excellent transport links via the M74 and M8.
“Motherwell is currently benefiting from approximately £19 million of investment focused on town centre regeneration, new housing delivery, infrastructure improvements, and public realm upgrades across areas including Forgewood and North Motherwell, all of which are driving increased demand and long-term growth.
“A low entry price with significant upside makes this an ideal opportunity for investors and developers seeking strong returns.”
More information is available on the Rightmove website.
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