47 Castlegate, Malton, North Yorkshire

Description

A Vacant Commercial Grade II Listed Building Arranged to Provide a Ground Floor Commercial Showroom, Five Rooms to the First Floor and Outbuildings to the Rear, Situated on a Site Measuring Approximately 510 sq m (5,487 sq ft). Potential for Development, Subject to Obtaining All Necessary Consents. The property requires a program of refurbishment.

Accommodation

Ground Floor: Commercial Showroom with glazed frontage. First Floor: Five Rooms (planning consent for residential use previously obtained). Exterior: Large rear yard with outbuildings.

Location

The property is situated on a mixed use road within the historic town of Malton close to local shops and amenities. It holds a highly prominent position on the busy main road of Castlegate, which connects Malton and Norton. Malton rail station is within walking distance, along with Morrisons, Lidl and Asda supermarkets.

Tenure / Property Information

Investment Analysis

No auction guide price, internal area, refurbishment budget or formal valuation is supplied. The sold evidence is highly variable (£25,000 to £585,000), relates to different property types and dates, and does not establish a reliable value for this vacant Grade II listed mixed-use building with commercial frontage, first-floor rooms and rear outbuildings. A GDV or maximum bid cannot therefore be supported from the evidence.

Investment Snapshot

Strategy Recommendation

Do not set a bid or proceed on the current evidence. Obtain the legal pack, confirm the status and conditions of the previous residential consent, investigate listed-building requirements, inspect the building and obtain costed refurbishment and valuation advice before considering a commercial, residential-conversion or resale strategy.

Works Required

Undertake the stated refurbishment programme to the commercial showroom, first-floor rooms and rear outbuildings, subject to inspection. Any residential conversion or other development requires all necessary consents, with the Grade II listed status requiring particular consideration. No specific defects or work costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. Purchase price, refurbishment cost, post-works GDV, finance costs and confirmed refinance eligibility are unavailable. The previous residential planning consent and listed status require legal and planning verification before relying on a residential refinance strategy.

Buy-to-Let Analysis

The £895 pcm figure is an advertised asking rent for a two-bedroom property in YO17, not achieved rent and not confirmed for this property. The subject is currently a vacant mixed-use commercial building, although residential use was previously consented. BTL yield cannot be established without a purchase price, conversion status, works cost and confirmed residential layout.

Flip Analysis

A flip surplus cannot be calculated. The available Castlegate sales range from £25,000 to £585,000 and involves differing property types and sale dates, so it does not provide a dependable resale value for this asset. No purchase price, works allowance or selling allowance is supplied.

Investor Risks & Due Diligence

• No auction guide price is supplied, preventing bid and return calculations.

• Grade II listed status may constrain refurbishment and development proposals.

• Previous planning consent for residential use is not confirmed as current, extant or transferable.

• The property is vacant and no passing income is evidenced.

• The £895 pcm rental evidence is an advertised asking rent for another two-bedroom property, not an achieved rent for the subject.

• Sold comparables vary substantially in price, type and date and may not be comparable.

• Additional buyer premium, legal-pack disbursements and other charges may be payable but are not quantified.

Recommendation

Do not set a bid or proceed on the current evidence. Obtain the legal pack, confirm the status and conditions of the previous residential consent, investigate listed-building requirements, inspect the building and obtain costed refurbishment and valuation advice before considering a commercial, residential-conversion or resale strategy.

Strategy Rating

Analysis Confidence

The property description is detailed, but there is no guide price, internal floor area, condition schedule, works budget, current planning documentation, formal valuation or directly comparable rental evidence.