This property presents an intriguing investment opportunity with granted planning permissions for two distinct schemes. Located prominently on Retford's bustling town square, this substantial commercial and residential building spans two floors and offers significant potential for adapting the existing space. The expansive ground floor includes a retail area exceeding 2281 sq ft, featuring a shop floor, kitchen, disabled toilets, and versatile storage solutions along with staff facilities. The first floor includes a seating zone that can be reimagined into a two-bedroom apartment, maximizing rental income potential with a projected yield of 7-9%. Furthermore, the second floor hosts an existing two-bedroom apartment requiring renovation to enhance its livability. There is considerable scope to convert parts of the ground floor kitchen into another apartment or transform the entire first floor into an HMO accommodating four double bedrooms — each potentially generating £150 per week in rent. Additional full residential approval could allow for the creation of six apartments across the property subject to necessary consents. This property not only benefits from its strategic location but also possesses substantial versatility to meet market demand in residential rental spaces.
