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Old Post Office Wallgate, Wigan, WN1 1AD

Yorkshire

£495,000
Listed on 26/04/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property is a three-storey end-of-terrace Grade II listed building with significant renovation and investment potential. The ground floor, formerly utilized as a post office counter alongside a sorting office, has been granted full planning permission for conversion into a public house, complete with additional storage space at the rear. This opens up exciting opportunities for both local business development and community engagement. The upper levels currently serve as office space and additional storage, having undergone tasteful renovations to a high standard. These floors could also be considered for conversion into residential units, subject to obtaining the necessary planning permissions. This adaptability enhances the property's appeal in a market that increasingly values mixed-use developments. Additionally, the basement area offers extra storage possibilities, further increasing the building's utility. With 5,700 sq ft of overall space available on the ground floor alone, there is ample room to envision various configurations and uses that align with market demands or personal investment goals. The location itself provides further advantages, positioned within a vibrant area that benefits from foot traffic and community presence. Overall, this property represents a unique opportunity for an investor or developer looking to capitalize on its diverse potential.

Investment Analysis

(WN3 area)
Area Average
£207/sq ft
Avg Rent (weekly)
£224
Avg Yield
6.1%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£300,000 - £500,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
22
Average per month
Market Turnover
23%
Properties sold annually

Local Market Trend (WN3)

Area prices are rising by +3.5% over the last 12 months
3 year growth: 7.9%
5 year growth: 39.4%
Investment Disclaimer: Analysis based on WN3 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Old Post Office Wallgate, Wigan, WN1 1AD
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Mortgage Calculator

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£
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,813
Based on a loan of £371,250 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE