2 Canal Street, Bainsford, Falkirk, FK2 7FD

• Prime Property Auctions is excited to present this exceptionally rare development opportunity located within a prime location in Falkirk

 

• The site comes with planning in principle for 5 residential flats. *** 3x 1 beds flats, 1x 2 beds flat and 1x 3 beds flat*** planning reference no. P/23/0520/FUL

 

• ***50, Caledonian Court, Falkirk, Stirlingshire FK2 7FL sold for £190,000, 2, Longdales Avenue, Falkirk, Stirlingshire FK2 7HZ sold for £175,000***

 

• Potentially excellent opportunity for serviced accommodation, potentially returning £43,300 per annum once developed (subject to gaining necessary planning consents)

 

• Property requires full renovation. Fantastic Capital growth potential. Sure to appeal to builder/investor looking for Rare auction property.

Prime Property Auctions is excited to present this exceptionally rare development opportunity located within a prime location in Falkirk

Planning Application comprises:

Ground Floor: 2 Bedroom Flat & 1 Bedroom Flat

First Floor: 3 Bedroom Flat

Second Floor: 1 Bedroom Duplex Flat & 1 Bedroom Flat

The GDV is estimated at £555,000 - £630,000 in the area. Sales Evidence:

***50, Caledonian Court, Falkirk, Stirlingshire FK2 7FL sold for £190,000, 2, Longdales Avenue, Falkirk, Stirlingshire FK2 7HZ sold for £175,000***

1 Bedrooms Flats sale achieving a range between £90,000- £105,000

2 Bedrooms Flats sale achieving a range between £110,000- £125,000

3 Bedrooms Flats sale achieving a range between £175,000 - £190,000

For rental purposes, units combined could attract a monthly rent of £3975 - £5500 p/m  (£47,700 - £66,000 p/a) which would provide an excellent gross yield of between 57%- 59% based on a guide price.

Potentially excellent opportunity for serviced accommodation, with rates for 1 bed properties in the area starting from around £150 per night (subject to gaining necessary planning consents) At 80% occupancy per month, unit could achieve £3600 p/m (£43,200 p/a) which would generated an incredible 54% gross yield if secured at the guide.

Property requires full renovation. Fantastic Capital growth potential. Sure to appeal to builder/investor looking for Rare auction property

This lot is open to immediate offers. Should you wish to offer NOW, you can do so via our “Offer Now” button on our website.

This property is offered at a fantastic price to ensure an Auction sale.

The property will feature in our upcoming timed online auction. To participate in the live auction, you must have a bidding account created. For further details on how to have a bidding account created please contact the team.

This property could also be an excellent opportunity for serviced accommodation, with rates for 1 bed properties in the area starting from around £150 per night. ***POTENTIALLY HIGH YIELDING INVESTMENT***

Location:

Falkirk, strategically positioned in central Scotland, presents a compelling investment opportunity due to its dynamic economy and cultural significance. As a vibrant town with a diverse range of industries, including manufacturing, tourism, and retail, Falkirk offers investors various prospects for growth. Its strategic location, excellent transport links, and proximity to major cities make it an attractive destination for businesses and residents alike. Investors can leverage Falkirk's strong economic fundamentals to support commercial and residential developments, infrastructure projects, and tourism initiatives. Additionally, the town's rich history, cultural attractions, and natural beauty create opportunities for leisure and entertainment ventures. Investing in Falkirk promises both financial returns and the chance to contribute to the continued prosperity and vitality of this thriving town in Scotland.