2-bedroom house · ZE1 0TR
For saleReduced £25k (−20.8%) on 16 OctListed 143 days
Opportunity summary
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About
Reference - KA0673 Welcome to The Store Introducing The Store, originally a two-bedroom end-terraced home which was converted into two self-contained flats.
The Store is advantageously situated on Main Street in Scalloway. The accommodation comprises a spacious bedroom/living space, kitchen, and well-equipped bathroom in the first flat.
The second flat consists of a bright and sizeable lounge/diner, kitchen, well-equipped bathroom, and generous loft bedroom. The Store is part of a Category C Conservation Area.
The Store presents a range of exciting possibilities, whether it be reconverting the property into a family home or retaining the dwelling as two individual flats.
Location The Store is situated in the village of Scalloway, just a short 10-minute drive from Lerwick.
The property is conveniently located within easy walking distance of Scalloway's many amenities, including Scalloway Primary School, Scalloway Leisure Centre, the Cornerstone Café, Scalloway Meat Company Shop, Premier Shop, the Shetland Weight Training Club, and the Scalloway Hotel.
Accommodation Upon entering the property through a small entrance vestibule, the first flat is located on the ground floor to the left.
The accommodation includes a spacious bedroom, providing ample floor space to also serve as a living area. This room is further enhanced by substantial built-in storage.
The first flat is complete with a well-appointed kitchen, fitted with a range of wall and base-mounted units, as well as an integrated oven and hob.
There is also a well-equipped bathroom featuring a W.C., hand basin, shower cubicle, and bidet. The second flat is situated on the first floor.
The accommodation comprises an expansive lounge/diner featuring two well-proportioned windows, allowing an abundance of natural light into the room.
The kitchen on this level is well appointed and fitted with a range of wall and base-mounted units, along with an integrated oven and hob.
The second flat is further complemented by a well-equipped bathroom featuring a shower cubicle, W.C., bidet, and hand basin, as well as a sizeable loft bedroom on the second floor.
The loft bedroom benefits from a number of Velux windows, creating a bright and welcoming environment.
External Features Externally, the property benefits from shared parking and direct access to Fraser Park. Early viewing is highly recommended.
Value & comps
Land Registry doesn’t cover Scotland or Northern Ireland, so previous sales may not be on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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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.
Area
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FAQ
About The Store, Main Street, Shetland
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