Rose Works White Lion Yard, Lord Street, Gainsborough, DN21 2DD

Description

A wonderful opportunity to acquire the freehold of this well positioned ground floor unit providing an ideal opportunity for a workshop along with WC and ancillary facilities. The site, accessed via a gated courtyard, may well offer scope for further development as part of the larger premises and the separate shop on Lord Street (available as separate lot). An internal viewing is a must to appreciate the scope and potential of this property.

Accommodation

Ground Floor: Workshop; WC Facilities; Shower Room; Lobby; Courtyard

Location

The property is located in the heart of Gainsborough town centre, a popular and traditional Lincolnshire market town. The town centre is undergoing significant regeneration, with restored historic shop fronts, residential conversions, a Savoy Cinema complex under construction, and additional retail and restaurant units. Nearby occupiers include Halifax, YBS, Boots, and a wide range of local and small business operators. Gainsborough is well positioned for access to Scunthorpe, Retford, Doncaster and Lincoln.

Tenure / Property Information

Investment Analysis

The closest evidence is two completed freehold sales recorded at 1 White Lion Yard, Gainsborough, for £15,000 and £31,000. The supplied data does not confirm that these are the subject unit, nor provide size, condition or specification comparisons. They support only an indicative comparable range of £15,000–£31,000. A midpoint of £23,000 is used as a cautious base GDV estimate, not a formal valuation. The £3,600 buyer/admin charge and other possible legal, search, transfer and seller-cost reimbursements materially exceed the £500 guide price.

Investment Snapshot

Strategy Recommendation

Treat as a speculative commercial acquisition only after inspecting the unit and reviewing the legal pack. Do not rely on the £500 guide as the project cost; set a bid limit only after confirming title, access, permitted use, development rights and all additional charges.

Works Required

Internal viewing and legal-pack review are essential. The evidence supports only assessing the existing workshop, WC, shower room, lobby and courtyard, together with any maintenance or adaptation required. No specific defects or development costs are evidenced, so no works allowance is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £23,000 base GDV, 75% refinancing would be approximately £17,250. However, refurbishment costs, the purchase price achieved, legal/disbursement costs and commercial lending terms are unknown. Cash left in and BRRR viability therefore cannot be calculated reliably.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent, annual income and gross yield cannot be established. The unit is described as a workshop rather than a residential property, and commercial letting terms would require separate investigation.

Flip Analysis

The indicative comparable-based GDV range is £15,000–£31,000, with a £23,000 base case. A flip surplus cannot be calculated because the final purchase price, works costs and supported selling allowance are unavailable. The known £3,600 admin charge alone is significant relative to the guide.

Investor Risks & Due Diligence

• The legal pack, tenure terms, access arrangements and any applicable charges have not been reviewed.

• The £3,600 buyer/admin charge is payable on exchange, with further search, legal, transfer, seller-cost and disbursement charges possible.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• The two White Lion Yard comparables are not confirmed as the subject property and may not be directly comparable.

• No condition, floor-area, EPC, heating or development-cost evidence is supplied.

• Any further development potential is described as possible only and is not confirmed by planning or title evidence.

Recommendation

Treat as a speculative commercial acquisition only after inspecting the unit and reviewing the legal pack. Do not rely on the £500 guide as the project cost; set a bid limit only after confirming title, access, permitted use, development rights and all additional charges.

Strategy Rating

Analysis Confidence

There are completed local comparables and a clear accommodation description, but the comparable identity, floor area, condition, tenure terms, rental value, EPC, final price and full costs are not supplied.