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Market Street, Harwich, Essex, CO12 - Image 1
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Market Street, Harwich, Essex, CO12

East of England

£300,000
Listed on 01/04/2025

Property Details

Bedrooms
3
Type
Terraced house

Description

This Grade II Listed three-bedroom property presents a unique opportunity for renovation and investment in the desirable area of Harwich. Situated on Market Street, the property not only offers historic charm but also comes with a plot of land (20, 20b) that has approved planning permission (application no. 15/00615/FUL) for the construction of eight residential flats within a four-storey building. This could serve as a lucrative investment avenue, catering to the growing demand for housing in the area. Inside, the ground floor comprises a versatile shop space measuring 16'11" x 14'11", along with an office area (6'3" x 11'11") and a workshop (16'3" x 11'12"). The potential to convert these commercial spaces into residential units adds further appeal to prospective buyers or investors. The first floor hosts a spacious lounge (15'8" x 14'10"), a well-proportioned kitchen (17'6" x 13'11"), and bedroom one (16'4" x 12'3"). On the top floor, you will find two additional bedrooms (bedroom two: 17'8" x 11.0"; bedroom three: 14'7" x 11'09"), along with a dressing room (10'2" x 8.4") and a bathroom (8'5" x 7'4"). The layout can be redesigned to suit modern living needs while preserving its historical character. The location offers significant advantages, being directly on the harbourside and close to essential amenities such as restaurants, an award-winning pub, and the Greater Anglia train station. Additionally, easy access to the A120 trunk road enhances its connectivity, making it an appealing choice for future residents. With current market conditions suggesting potential selling prices of approximately £140,000 for two-bedroom flats and around £125,000 for one-bedroom options based on proposed developments, this property represents an interesting investment opportunity worth exploring.

Investment Analysis

(CO12 area)
Area Average
£257/sq ft
Avg Rent (weekly)
£226
Avg Yield
4.2%

Renovation Potential

Est. Renovation Cost
£30,000 - £75,000
10-25% of property value
Monthly Sales
22
Average per month
Market Turnover
24%
Properties sold annually

Local Market Trend (CO12)

Area prices are rising by +4.2% over the last 12 months
3 year growth: 4.1%
5 year growth: 35.5%
Investment Disclaimer: Analysis based on CO12 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Market Street, Harwich, Essex, CO12
Map showing location of Market Street, Harwich, Essex, CO12
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