Land for sale in High Street, Banff, Banffshire AB45

Overview

Are you seeking a lucrative residential investment in the picturesque village of Banff? Look no further than this exciting development prospect. With a substantial vacant high street commercial unit encompassing approximately 745.2sqm, this property presents a rare chance for astute investors and developers.

Planning permission has been granted to develop the existing commercial unit, spread over three floors, into nine residential homes and one commercial unit. As the proposed floor plans show, the new development will be spread over three floors and a mezzanine level. The top floor apartments have an added touch of luxury with the benefit of a rooftop terrace to make the most of the stunning views.

** full build package available - partnered with a local builder a full build and project management package is available if the new owner is looking for a hands off project. For more details of the build costs and spec please get in touch. We can also offer a project package with various exit strategies, tailored to your investment goals. Whether you prefer selling the residential units prior to completion on the open market, renting them out for long-term residential tenancy with full management services, or tapping into the lucrative short-term holiday rental market, we have you covered.

** Development **

Planning permission secured for conversion of the existing building into nine residential homes and one commercial unit.

4x One bedroom apartments / 2x Two bedroom apartments / 3x Three bedroom apartments

*Potential for Return:

Housing Market - Open Market sale : Banff and its surrounding areas have experienced consistent growth in the housing market, making it an attractive location for both buyers and renters alike. The demand for quality new build residential properties remains high, presenting ample opportunities for capital appreciation. With the correct marketing these properties would be popular with not only local residents but with national interest for investment and relocation.

Residential Rental Market: With its picturesque location and vibrant community, Banff boasts a robust residential rental market. The mix of one, two, and three-bedroom apartments caters to a diverse range of tenants, ensuring steady rental income streams.

Holiday Rental Market: Banff's appeal as a tourist destination makes it a lucrative area for short-term holiday rentals. From sandy beaches to historic landmarks, golf courses to the whisky trail, there's no shortage of attractions to draw in visitors year-round. The penthouse properties with balconies offer stunning views, further enhancing their appeal to holidaymakers seeking a memorable getaway experience.

Leveraging our understanding of the local area and market trends, we can guide you towards maximising your investment returns. Explore the potential of this exceptional project. Whether you're an investor, developer, or entrepreneur, this is a rare opportunity to shape Banff's landscape and reap substantial rewards.

Finances - please get in direct contact for projected return on investment and potential rental incomes.

**Looking for finance to fund this exciting opportunity? We can also connect you with specialist lenders to get your project moving forward.**

The information provided in these sales particulars is believed to be correct to the best of our knowledge, however, prospective buyers are advised to verify any details to their satisfaction before entering into any agreement
Council tax band: Not Required