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High Street, Banff, AB45

Scotland

£295,000
Listed on 28/12/2025

Property Details

Bedrooms
5
Type
Detached house
Area
4080 sqft

Description

Presenting a remarkable opportunity, The Old Rectory is a spacious five-bedroom residence that invites renovation enthusiasts and investors alike to unleash its full potential. Extending across four expansive floors and totaling 379 square meters, this character-rich home offers an enviable canvas for those looking to create either a luxurious family dwelling or a multi-use space within the historic heart of Banff. Upon entering through elegant wrought iron gates, you are welcomed by the property’s grand façade which hints at its historical charm. While the interior requires extensive updating, it boasts generous room dimensions and a flexible layout that could easily accommodate modern living standards. Currently featuring three bathrooms, a terrace, and ample parking, the groundwork is laid for creating something extraordinary in this prime location. The ground floor showcases a welcoming vestibule leading into a sizable entrance hall connecting to multiple reception areas, including a bright dining room with an open fireplace and an inviting public room with another traditional fire feature — both perfect for family gatherings. The cozy back lounge opens out onto private decking, ideal for outdoor relaxation. The kitchen presents significant scope for redesign; currently equipped but dated, it can be transformed into a contemporary culinary space fit for today's lifestyle. A conveniently placed ground floor bathroom adds functional value to this level. Upstairs, find four spacious bedrooms on the first floor; the master suite includes en suite facilities and overlooks the rear garden. Additionally, all rooms offer light-filled spaces that could greatly benefit from modern decor enhancements. The attic level features three interconnected rooms ripe for conversion into additional bedrooms or creative workspaces. Noteworthy is the self-contained lower ground floor with separate access – comprising a lounge, kitchen, bathroom, utility area and bedroom, it presents opportunities for conversion into guest accommodation or even rental income potential (subject to consents). The exterior is equally captivating with an enclosed front garden and a vast rear garden providing ample scope for landscaping or recreational use. The property is attractively priced below its Home Report valuation reflecting the need for renovation – making this an excellent investment opportunity in one of Banff's most desirable locations.

Investment Analysis

(AB45 area)

Below Market Value

This property is priced -48.4% below area average per sq ft

-48.4%
Potential saving
This Property
£72/sq ft
Area Average
£140/sq ft

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£80,000 - £120,000
Target Value
£629,442
10% above area average per sq ft
Potential ROI
+51.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
14
Average per month
Market Turnover
30%
Properties sold annually

Local Market Trend (AB45)

Area prices are falling by +7.7% over the last 12 months
3 year growth: -9.7%
5 year growth: 3.6%
Investment Disclaimer: Analysis based on AB45 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

High Street, Banff, AB45
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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
£1,081
Based on a loan of £221,250 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