This freehold vacant commercial property, previously utilized as a dance studio, presents a valuable opportunity for renovation and conversion into two self-contained two-bedroom flats, subject to the necessary planning approvals. The layout comprises two generous studios along with ancillary spaces including two restrooms, a kitchen, and storage areas, all connected by long hallways. Its unique L-shaped design not only allows for ample natural light but also offers versatile reconfiguration possibilities to maximize living space.
Situated above commercial units, the property grants access via the front staircase and includes a shared use of the rear outdoor area, augmenting its appeal for potential residential development. With a strong demand for two-bedroom apartments in Burscough—evidenced by comparable properties achieving sales between £160,000 and £185,000 and rental prices around £800–£900 per month—this property is ideally positioned for successful conversion.
Once renovated, it is projected that the combined value could reach between £325,000 and £360,000. Additionally, there's potential for an annual rental yield of approximately £20,000 to £22,000 which translates to a gross yield around 9%. This property not only promises significant returns on investment but also stands as a promising venture for developers looking to enter the market.
