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Main Street, Hornby, Lancaster, Lancashire - Image 1
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Main Street, Hornby, Lancaster, Lancashire

North West

£350,000
Listed on 30/11/2024

Property Details

Bedrooms
2
Type
Semi-detached house
Area
3277 sqft

Description

This unique mixed-use property presents a noteworthy opportunity for both residential living and commercial enterprise. The ground floor is dedicated to a spacious commercial area, previously utilized as a successful family butchers, while the upper level features a well-appointed two-bedroom residence that has been thoughtfully renovated since its conversion around 2016. Situated in Hornby, a charming village nestled in the picturesque Lune Valley, this property benefits from its vibrant local community. With amenities such as shops, a post office, tea room, hairdressers, and healthcare facilities nearby, it enjoys high foot traffic and passing trade—making it an appealing location for potential business ventures. Furthermore, excellent transport links are easily accessible; the M6 motorway is just a short drive away, connecting you to Lancaster and other regional hubs. The residential accommodation above the commercial space offers generous living quarters with delightful views of the village. The open-plan kitchen-living area features modern conveniences alongside classic character elements retained during renovation. Both bedrooms provide ample natural light and comfortable space for living. The stylish bathroom is fitted with contemporary fixtures to enhance daily living comfort. The commercial area spans over 2,500 square feet and includes several distinct spaces: a large shopfront, kitchen areas, butchery facilities, and additional storage on the first floor. This diversity allows for significant flexibility in reimagining the space for new business opportunities or adapting it to suit different ventures. With planning permission potentially obtainable for further redevelopment or enhancement, there’s considerable scope for investors looking to increase the property's value. Access to the commercial space is convenient from both the main street entrance and rear access points leading to essential storage facilities including cold storage areas within a courtyard garden setting. Off-road parking capacity accommodates up to three vehicles with additional customer parking available on the street. This property stands out not only for its dual functionality but also for its potential—whether you're interested in establishing a new business or leveraging rental income from the residential unit—making it an ideal investment prospect for those with vision in an ever-bustling village landscape.

Investment Analysis

(LA2 area)

Below Market Value

This property is priced -61.2% below area average per sq ft

-61.2%
Potential saving
This Property
£107/sq ft
Area Average
£275/sq ft
Avg Rent (weekly)
£211
Avg Yield
3.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£50,000 - £80,000
Target Value
£991,112
10% above area average per sq ft
Potential ROI
+130.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
17
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (LA2)

Area prices are rising by +6.1% over the last 12 months
3 year growth: 13.0%
5 year growth: 11.2%
Investment Disclaimer: Analysis based on LA2 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

Main Street, Hornby, Lancaster, Lancashire
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,282
Based on a loan of £262,500 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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