Harris-Shields Collection says ..

Property Oracle says ..

This property on Market Place, Bridlington, presents a complex investment opportunity. The building is currently in a state of disrepair, with all windows boarded up, suggesting significant renovation and repair works are required before any occupancy or use can be considered. This significantly impacts the value and is the largest impediment to the value. The photographs reveal a significant amount of land to the rear of the building, currently in a littered condition. This is a significant asset as it has development potential. The location in Bridlington’s old town is positive, offering proximity to amenities, transport links, and several well-rated schools. The absence of specific property details (bedrooms, bathrooms, square footage) limits a precise valuation. The listing price of £250,000 needs to be weighed against the substantial renovation costs and inherent risks of developing the site. Investors will have to make a substantial investment which will not yield a return for some time. A thorough survey and detailed cost assessment of the renovations are crucial before making any decisions. Further research into the planning permission would provide further clarity on the viable development option. The potential for development and the prime location should be seen as mitigating factors. However, the extent of work needed means this is a higher-risk project and must be carefully assessed.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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