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High Street, Wetherby LS22

Yorkshire

£660,000
Listed on 02/10/2024

Property Details

Bedrooms
N/A
Type
Detached house
Area
1528 sqft

Description

Presenting a distinctive opportunity, this property encompasses two semi-detached stone cottages set on a generous 0.20-acre lot along the riverbank. The site offers both residential and commercial potential, making it suitable for various investment strategies. Pear Tree Cottage is a charming two-bedroom residence that boasts delightful views of the nearby river. This home combines traditional character with modern amenities, featuring PVC double-glazed windows and doors that enhance energy efficiency while maintaining its rustic appeal. The ground floor includes an inviting sitting room with exposed wooden beams, a stone fireplace complete with a wood-burning stove, and a comfortable window seat that overlooks the garden. A breakfast kitchen equipped with wooden countertops, a range cooker, and a Belfast sink serves as the heart of the home, leading out to a stone patio that’s perfect for outdoor dining or relaxation. Upstairs, two bedrooms are well-appointed; one includes an original fireplace and captivating river views. The bathroom is thoughtfully designed with contemporary finishes, including both a double shower and bathtub. Adjacent to Pear Tree Cottage is Edgewater Cottage, currently operating as The Cottage Coffee Shop & Gift Shop—a local favorite since its establishment in 2000. It benefits from good visibility and foot traffic in an area where slow-moving vehicles contribute to its accessibility. The interior is designed to accommodate up to 34 patrons outside and offers seating for an additional 12 indoors amidst unique gift displays highlighted by another stone fireplace. The commercial kitchen retains its cottage charm while being fully equipped for operational needs. There’s additional potential upstairs for further dining space or retail operations complemented by panoramic views of the surroundings. The expansive grounds feature meticulously maintained gardens and terraced seating areas that create a peaceful ambiance beside the river—a rare find in such a sought-after location. Numerous storage options are available outdoors as well. Given the size of the property and its favorable position, there may be further development opportunities subject to obtaining necessary planning permissions. This combination of residential comfort and commercial viability presents an intriguing investment prospect that could cater to diverse buyer interests while capitalizing on attractive local features.

Investment Analysis

(LS22 area)

Above Market Value

This property is priced +22.6% above area average per sq ft

+22.6%
This Property
£432/sq ft
Area Average
£352/sq ft
Avg Rent (weekly)
£322
Avg Yield
3.4%

Renovation Potential

Est. Renovation Cost
£66,000 - £165,000
10-25% of property value
Target Value
£592,146
10% above area average per sq ft
Potential ROI
-28.2%
After renovation
Monthly Sales
20
Average per month
Market Turnover
24%
Properties sold annually

Local Market Trend (LS22)

Area prices are rising by +8.3% over the last 12 months
3 year growth: 6.3%
5 year growth: 19.8%
Investment Disclaimer: Analysis based on LS22 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

High Street, Wetherby LS22
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