This first-floor office space presents a compelling opportunity for renovation and investment. Spanning approximately 86 square meters (925 square feet), the layout includes an office/reception area, a conference room, a kitchenette, and two bathrooms. With vacant possession currently available, the property holds an estimated rental value of £9,000 per annum, translating to a gross initial yield of around 6.43%.
One of the standout features of this property is its potential for redevelopment into residential units, subject to the necessary planning approvals. This flexibility adds significant value for investors looking to capitalize on Boston's growing demand for housing.
Located on Wide Bargate, the unit benefits from high visibility and foot traffic, with established neighboring businesses such as Santander, Waterstones, and Argos enhancing its appeal. Boston itself is a vibrant port town in Lincolnshire that boasts strong transport links and community amenities, making it an attractive spot for both work and living.
Ownership will come with a new 999-year lease upon completion, with negligible ground rent obligations. This setup provides stability for long-term investment while allowing for creative modifications to enhance the property's use. Overall, this space offers both immediate applicability as office accommodation and future potential as desirable residential units in a well-connected location.
