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Residential properties for auction in Wigtownshire

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This outstanding opportunity offers a large commercial unit with a two bedroom flat above and enjoys prime location on the main street of the bustling market town of Newton Stewart and with pleasant views over the River Cree to the rear. The commercial unit is over two levels, extends to 203 sq. metres (2185 sq. feet) and is currently divided into a combination of main shop unit and storage/workshop areas. The current owner has operated the unit for 50 years, 40 of which he was running the business as a gents' outfitters with the last 10 years being operated under lease to an electrical retailer/repair operator. The flat above has been on the private rental market until one year ago with both commercial and flat now being vacant. The flat is over the first and second floors and needs some degree of upgrade/repairs. The spacious residential accommodation comprising lounge, kitchen, two bedrooms (one with boxroom off) and bathroom. The flat also offers electric storage heating and gardens to rear. The commercial unit has a shared access to the rear which is invaluable for convenient delivery and despatch. Both properties, when rented, produced an annual rental of £17,064 which, if replicated at the attractive Guide Price, would show an attractive rental yield of over 17%. This opportunity would be ideal for an investor who may want to rent or operate both commercial and residential units or, possibly, consider change of use subject to necessary planning consents.

Tenure

Freehold

Spacious commercial unit

Two bedroom maisonette

Main street location

Competitive asking price

Combined potential rental of over 17%

Previous rental for both £17,064pa

Current rateable value £10,850pa

Area

Newton Stewart offers a range of local leisure and retail facilities including supermarkets and café/restaurants. The town also accommodates both primary and secondary education. The main road network is via the A75 which provides links to Stranraer and Dumfries. Glasgow is 80 miles by road, Carlisle 85 miles and Edinburgh 125 miles.

Local Authority

Dumfries and Galloway Council

Additional Fees

Administration Charge - Purchasers will be required to pay an auction fee of £2,000 inc VAT unless otherwise stated

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
43/45, Victoria Street, Newton Stewart, DG8 6NL
Portfolio of commercial unit and two bedroom maisonette
Type: Residential, Retail, Mixed Use, Flat, Other Property Types & Opportunities
Location: 43/45 Victoria Street, Newton Stewart, DG8 6NL
Images: 14
Brochures: 1
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