4 High Street, Wisbech, Lincolnshire

Description

A spacious commercial property situated in a highly desirable location on Wisbech High Street. Situated in a busy trading position with a host of well known brands trading nearby. The property offers accommodation over four floors, with main ground floor sale shop, large basement level and two upper floors. The upper floors may offer scope for residential conversion, subject to any required consents. Small yard to rear. Totalling 208 sqm/2239 sq. ft. Offered freehold and with vacant possession. A great investment opportunity.

Accommodation

Ground Floor: Main Sales Shop, Rear Office. Lower Ground Floor: Basement Storage, Kitchen, Store, Access to Rear Yard. First Floor: Office One, Office Two/Store Kitchen, Ladies and Gents W.C. Second Floor: Office Three, Office Four. Outside: Enclosed Rear Yard.

Location

Situated in a highly desirable location on Wisbech High Street, in a busy trading position with a host of well known brands trading nearby.

Tenure / Property Information

Investment Analysis

The supplied completed sales are nearby Wisbech High Street freehold commercial comparables, with 2024 prices of £130,000 and £137,500 and an earlier 2022 sale at £160,000. They are not confirmed to be identical in size, layout or condition, so they provide only an indicative range. A base GDV of £137,500 is used, with low and high scenarios of £130,000 and £160,000. The £105,000 guide is below these indicative comparables, but the evidence does not establish a formal market value.

Investment Snapshot

Strategy Recommendation

Do not rely on BTL or residential conversion without confirmed rent, planning/building-control evidence and detailed costs. Proceed only after full inspection and legal review demonstrate sufficient margin at the acquisition price.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, obtaining suitable commercial and conversion advice, and any works identified after inspection. Residential conversion of the upper floors is only described as potential and remains subject to required consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £105,000 guide, the 4.8% buyer premium is subject to the stated £6,000 minimum, producing a known guide-plus-premium cost of £111,000 before works, finance, tax and other possible special-condition costs. At the £137,500 base GDV, 75% refinancing equates to £103,125, leaving an indicative £7,875 unrecovered before excluded costs and any refurbishment. This is highly sensitive to valuation, consent and works costs.

Buy-to-Let Analysis

BTL analysis cannot be established because the property is commercial, vacant, no passing rent or auctioneer rent estimate is supplied, and the only rental evidence is an asking rent for a three-bedroom property in Thame, not Wisbech. The upper-floor residential potential is unconfirmed and subject to consents.

Flip Analysis

A base GDV of £137,500 implies £26,500 gross headroom over the £111,000 guide purchase plus minimum buyer premium, before works, selling costs, finance, tax and other acquisition costs. No supported selling allowance or refurbishment budget is available, so a reliable flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• The property is commercial and vacant, with no supported rental income or passing tenancy.

• Upper-floor residential conversion is only potential and is subject to required consents.

• No condition or refurbishment evidence is supplied, so total project cost is unknown.

• Comparable sales relate to other High Street properties and may differ in size, layout and condition.

• The buyer premium is subject to a £6,000 minimum, and additional special-condition fees may apply.

• The indicative refinance and equity calculations exclude works, finance, tax, selling costs and any other fees.

Recommendation

Do not rely on BTL or residential conversion without confirmed rent, planning/building-control evidence and detailed costs. Proceed only after full inspection and legal review demonstrate sufficient margin at the acquisition price.

Strategy Rating

Analysis Confidence

There are several nearby completed commercial sales and clear auction pricing data, but no condition report, EPC, rent, planning information, refurbishment costs, selling costs or directly confirmed like-for-like comparability.