3 bed End Terrace House For Auction

TO BE SOLD BY ONLINE AUCTION ON 9TH – 10TH SEPTEMBER UNLESS SOLD PRIOR UNDER AUCTION TERMS.

8 & 10 Bank Street, Hadfield, Glossop, SK13 1BB

An exciting and highly versatile development and investment opportunity comprising two adjoining properties with internal access between the buildings, occupying a substantial plot in the heart of Hadfield.

The properties have previously been used for commercial purposes before being converted to residential accommodation and now provide an excellent opportunity for an incoming purchaser to undertake a comprehensive refurbishment and reconfiguration programme.

The upper floor was previously arranged as a three-bedroom flat and broadly retains this layout. The ground floor is currently predominantly a shell, providing a genuine blank canvas for redevelopment. The property also benefits from cellar accommodation, which has not been inspected by Edward Mellor.

The size and configuration of the buildings provide a number of potential exit strategies. Subject to the necessary consents, purchasers may wish to explore redevelopment as houses, multiple self-contained flats or HMO/multi-let accommodation.

As an indication of potential end values, flats within Hadfield and the surrounding area can achieve in the region of £120,000–£160,000, depending on size, specification and configuration, while traditional residential houses can command approximately £170,000–£220,000, depending on accommodation, condition and finish. This provides scope for an attractive combined GDV depending upon the final scheme adopted.

The substantial accommodation may also lend itself well to an HMO or multi-let investment strategy. Potential room rents are estimated in the region of £550–£650 PCM per room, depending on room size, specification, facilities and whether bills are included, offering the potential for an attractive rental return following refurbishment and reconfiguration.

A further major feature is the substantial rear garden/land, which could potentially provide private gardens for individual dwellings, communal amenity space or parking, subject to access and any necessary permissions.

Situated on Bank Street in the heart of Hadfield, the property is conveniently positioned for local shops, amenities and transport connections, with Hadfield railway station providing convenient links towards Glossop and Manchester.

The combination of two properties, substantial accommodation, flexible configuration and extensive rear space makes this an excellent proposition for builders, developers and experienced property investors.