This mixed-use property presents a significant renovation and investment opportunity in the heart of Burntisland, a picturesque coastal town in Fife. With 11 bedrooms and various commercial potential, the property is a versatile canvas for those looking to maximize its value.
The ground floor currently houses a commercial unit with an established history as a pub, complete with a pool room, kitchen, storage areas, and accessible restrooms. This space has planning approval to be converted into a bar or restaurant, making it suitable for both culinary ventures and hospitality operations.
Above, there are two residential flats: each features four bedrooms, kitchens, and spacious open-plan living rooms. While one flat is tenanted at £800 per month, the remainder of the property stands ready for occupancy or further development. The three ensuite bedrooms are currently rented on a short-term basis at £40 per room per night.
The strategic location near Burntisland's bustling high street ensures robust foot traffic, enhancing the commercial appeal of the ground floor while serving the growing demand for quality accommodation. Should you choose to convert the entire space into residential units, there is potential to create three four-bedroom flats or two three-bedroom flats. Comparables in the area indicate substantial returns; for instance, similar properties have sold for upwards of £250,000 each recently.
Investors may also consider utilizing the BRRR strategy — buy, renovate, rent out — allowing for cash flow generation post-renovation while substantially increasing property value through strategic improvements. If converted into a guesthouse or bed-and-breakfast operation catering to visitors exploring this historic area during summer months or weekends from Edinburgh (just a short train ride away), projections suggest rental income could exceed £210,000 annually based on current market trends.
Burntisland itself boasts rich history and charm with its scenic beach and local attractions like Rossend Castle. The town maintains its authentic seaside character while offering modern conveniences and community events year-round.
In summary, this property offers diverse opportunities ranging from immediate rental returns to significant long-term capital appreciation through renovation and strategic redevelopment. Its prime location along with existing tenancy provides immediate income while presenting multiple avenues for future growth in an increasingly desirable area.
