This freehold commercial property, currently operating as a dance studio, presents a noteworthy opportunity for renovation and investment. Its layout includes two spacious studios, two restrooms, a kitchen, and multiple storage areas, all arranged along extensive connecting hallways. The configuration offers ample space that can be reimagined into two self-contained two-bedroom apartments, pending necessary planning approvals.
Situated above existing commercial units in a strategic location, the property boasts an L-shaped design that maximizes its footprint and flexibility. The sale encompasses the entire freehold of the building, including the rights to access via the front staircase and usage of the rear outdoor space. This accessibility enhances both functionality and potential development opportunities.
In terms of investment prospects, two-bedroom flats in Burscough are highly desirable among buyers and renters alike. Recent sales data indicates values between £160,000 and £185,000 for comparable properties in the area, while rental prices typically range from £800 to £900 per month. After conversion, this property could see an estimated market value between £325,000 and £360,000 or potentially generate an annual rental income of around £20,000 to £22,000—a strong return with a gross yield close to 9%.
With its solid structure and prime location, this property offers excellent potential for developers looking to capitalize on the growing demand for residential units in Burscough. An opportunity like this should not be overlooked by anyone seeking a versatile project with promising returns.
