This mixed-use property presents a unique investment opportunity with significant renovation potential, ideally situated near the bustling high street of Burntisland. With established commercial use as a bar and approved planning for conversion into a bar/restaurant, the ground floor is well-equipped for various business ventures. It includes spacious areas such as a pub, pool room, kitchen, and ample restroom facilities, along with three ensuite bedrooms that could generate additional rental income.
The first and second floors each contain a four-bedroom flat featuring spacious open-plan living areas, kitchens, and two bathrooms per unit. While these flats are currently in walk-in condition, there's considerable scope for modern updates that could enhance their market value and appeal to future tenants or buyers.
Investors will find multiple viable strategies to maximize returns. For example, the property could be transformed entirely into a hotel or bed and breakfast model—potentially yielding around £75 per room per night based on local market rates; if all eleven bedrooms were rented at 70% occupancy, the annual revenue could exceed £210,000. Additionally, converting the space into residential units offers the possibility of creating three four-bedroom flats and two three-bedroom flats. Given recent sales in the area—such as similar flats fetching upwards of £257,000—this route could lead to an estimated gross development value of approximately £1.3 million.
Located in Burntisland, known for its picturesque coastal charm enhanced by historical significance and vibrant community life, this property's location further enhances its investment appeal. The town boasts beautiful sandy beaches and easy accessibility to Edinburgh via public transport while maintaining its scenic seaside character.
Currently providing immediate cash flow through tenanted rooms at competitive rates—£40 per night for ensuite accommodations and £800 monthly for one of the four-bedroom flats—the property is ready for new ownership that wants to capitalize on its investment potential. With vacant possession upon sale (except for existing tenancies), it offers flexibility for both owner-occupiers seeking a project to personalize and investors aiming for high-yield opportunities.
Overall, this property stands out not just as a versatile asset but also as a canvas ripe with possibilities for strategic enhancements that can significantly increase its financial return over time.
