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See how verdicts work2-bedroom flat · ZE1 0AB
Sold STCListed 171 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Situated in a prime position on Commercial Street and enjoying stunning views over the Victoria Pier harbour, 38 Commercial Street presents an excellent opportunity to acquire a beautifully presented two bedroom property in the heart of Lerwick.
Finished to a high standard throughout, the property is in immaculate condition and offers modern, low maintenance accommodation ideally suited to a range of purchasers including first time buyers, those looking to downsize or investors seeking an attractive buy-to-let opportunity.
The property has been thoughtfully upgraded to provide a comfortable and energy efficient home with excellent insulation and economical running costs.
Internally, the property offers a bright and welcoming feel with generous storage space and well proportioned rooms throughout.
The open plan living area provides an ideal space for both everyday living and entertaining whilst taking full advantage of the attractive harbour outlook.
Located within easy walking distance of Lerwick’s amenities, shops, cafes and waterfront, this is a rare opportunity to purchase a stylish and conveniently located property in a sought after central location.
Early viewing is recommended. Accommodation Comprises: Entrance Porch, Hallway, Open Plan Living / Kitchen / Dining Area, Two Bedrooms, Shower Room.
LOCATION The property enjoys a highly convenient central location on Commercial Street, right in the heart of Lerwick and within easy walking distance of a wide range of local amenities.
Nearby facilities include shops, cafes, bars, restaurants, banks, the post office, pharmacies and local businesses together with the picturesque Victoria Pier waterfront and harbour area.
Mareel, the leisure centre, small boat harbour and regular public transport links are also close by, making this an ideal location for those looking to enjoy town centre living with all amenities readily accessible.
ACCOMMODATION; Entrance Porch (1.33 m x 1.95m) West facing wooden glazed door, East facing window, pendant light to the ceiling, laminate to the floor.
Hallway (2.07m x 1.02m) Spotlights to the ceiling, two storage cupboards, laminate to the floor.
Open Plan Living / Kitchen / Dining Area (5.58m x 6.96m) North facing window, spotlights to the ceiling, shaker style wall and base units, wooden worktop, tiles to the wall around worktop, bowl and a half sink and draining board, integrated single oven, integrated ceramic hob with integrated extractor fan above, integrated dishwasher, integrated fridge freezer, space for dining table, laminate to the floor.
Bathroom (1.57m x 2.85m) Sliding pocket door, spotlights to the ceiling, extractor fan to the ceiling, shower enclosure with hinged sliding door, sink vanity unit, toilet unit, tiles to the walls around shower, sink and toilet, wall mounted towel rail, storage cupboard - washer dryer plumbed in, laminate to the floor.
Bedroom 1 (2.84m x 3.65m) North facing windows, pendant light to the ceiling, triple built in wardrobe with mirrored sliding doors, carpet to the floor.
Bedroom 2 (2.70m x 3.07m) East facing window, pendant light to the ceiling, carpet to the floor.
SERVICES Electricity: Mains Water: Mains Drainage: Mains Heating: Electric Storage and Panel Heating Council Tax - Band B EPC Rating - Band C EXTRAS All fixed items included in the sale.
Some moveable items available by separate negotiation. ENTRY Immediate entry available on conclusion of legal formalities with a flexible entry date. VIEWINGS By appointment only.
Contact or email CLOSING DATE Parties wishing to be advised of a closing date should formally note their interest with the selling agent via a solicitor.
OFFERS TO Arthur & Simpson 68 Commercial Street, Lerwick, ZE1 0DL Telephone Email: DISCLAIMER Note: Whilst we endeavour to make these particulars accurate, they do not offer/form any part of a contract on offer and are not guaranteed.
Please note, the property is sold as seen . Measurements are approximate. We have not tested electricity, gas or water services or any appliances.
Photographs may have been taken with a wide-angle lens.
Value & comps
Land Registry doesn’t cover Scotland or Northern Ireland, so previous sales may not be on record.
Returns
Set an offer; the calculator follows it.
Short-let licence or registration needed
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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About 38 Commercial Street, Lerwick, Shetland, ZE1 0AB
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