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Commercial refurbishment project in Rothesay

Rothesay, PA20 - Get Access

Description

This redundant ground floor commercial unit, extending to approximately 33 square metres, is part of a larger block comprising an adjoining vacant commercial unit and vacant flats above. A full programme of refurbishment works is required to create a small commercial unit, or potentially conversion to a studio or compact one-bedroom apartment. Any works would be subject to all required consents, also noting that the property sits within a Conservation Area. The competitive guide price and location close to the town centre and ferry terminal make either project appealing for an investor looking to take advantage of tourist demand in the town. Watergate is situated in the heart of Rothesay, the principal town on the Isle of Bute and a popular visitor destination on the Firth of Clyde. The town combines a traditional Victorian seafront with a wide range of shops, cafés, restaurants, and leisure facilities, while the nearby ferry terminal provides regular connections to Wemyss Bay, making Rothesay readily accessible from Glasgow and the Central Belt. The location benefits from strong tourist and short-break appeal, with Rothesay Castle, Bute Museum, the seafront and Esplanade, Mount Stuart, and the island's beaches and countryside providing a broad range of attractions. Tourism is recognised by Argyll and Bute Council as a core component of Rothesay's local economy.
Comparable sales
No comparables available.
Estimated market value
£
Range: £ — £
Medium confidence Floor Area: 355 sq ft (Listing)

This ground floor commercial unit in Rothesay town centre was evaluated using a residual appraisal framework. We assessed the potential completed value for a small residential conversion and deducted the substantial capital expenditure required to remedy extensive structural disrepair across its 355 sq ft floor area.

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