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Market Place, Market RasenOffices, A1 - High Street, Refurbishment Opportunities, Residential Conversions, Residential, Commercial

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About this property

The property is located centrally within Market Rasen, a busy Market Town with a population of over 5,000 residents and serving as a ‘Hub’ for all surrounding villages offering a good range of local shopping and education facilities. The property is very prominently located and overlooks the cobbled Market Square.

This substantial three-storey commercial building is offered to the market at a substantially reduced price and comprises a centrally located former Bank premises with offices and living accommodation above, being offered for sale with Vacant Possession and located centrally overlooking the Market Square. The property requires refurbishment, but offers an excellent opportunity for redevelopment into mixed-use commercial and residential accommodation.

This attractive three-storey Grade II Listed Building has, until recently, been occupied by HSBC Bank at ground and first floor level, whilst the top floor has been used for office/storage space, together with the benefit of a large self-contained maisonette with accommodation at first and second floor. Whilst the residential accommodation is well-presented, the remaining building now requires refurbishment and is very competitively priced to attract interest from Developers/Investors looking to retain retail/office accommodation at ground floor level, whilst converting the entire upper floor accommodation into individual apartments, subject to the necessary Planning Permissions required.

The ground floor accommodation comprises; retail/office space with ancillary office, storage and WC facilities and extends to 204 sq m (2,195 sq ft). In addition, the first floor office accommodation extends to a further 65.6 sq m (706 sq ft) and the second floor office/storage accommodation extends to a further 32.6 sq m (350 sq ft). In addition, the separate self-contained maisonette is very generously proportioned extending to 117 sq m (1,262 sq ft).

Mains drainage, electricity, gas and water are all understood to be connected to the premises. The residential accommodation has the benefit of a gas fired central heating system serving radiators throughout and the office/business accommodation has a combination of a gas fired central heating system and electric heating.

EPC Rating – Given that the property is Grade II Listed, it is exempt from requiring an Energy Performance Certificate.

The property is understood to be available ‘For Sale’ on a Freehold basis and is being offered with Vacant Possession.

The Rateable Value is currently assessed to be £22,000.

West Lindsey District Council –

By prior appointment through Mundys Commercial – 01522 556088.