Detached house · NG34 7ST
For saleReduced £50k (−16.7%) on 20 OctListed 378 days
Opportunity summary
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About
**Rare opportunity** Landmark listed freehold property offering 5003 sq ft over three floors, offering scope for re-development/investment. Vacant possession.
Huge potential - new roof - one off opportunity - former barclays bank.
The property **Rare opportunity** Landmark listed freehold property offering 5003 sq ft over three floors, offering scope for re-development/investment. Vacant possession.
Huge potential - new roof - one off opportunity - former baclays bank. Huge scope to split the ground floor into smaller retail/office units with apartments over - subject to the necessary consents.
Grade 2 listed bank (listed class E) cepc (D) Freehold Recently had a new roof at considerable expense to the vendors.
(see below) The work undertaken at Market Place was: - Strip out old roof and dispose - Supply and install new roofing felt - Supply and install new batons - Supply and install new slates - Supply and install loft insulation to replace the insulation removed by Rentokil - Supply and install new guttering - Supply and install new downpipe, unblocking and restoring the connection to the internal downpipe - Localised external decoration to cover the rust stains from the downpipe location The property is located in the town centre of Sleaford, at the junction of Market Place, North Gate and South Gate.
It accommodates a three storey Grade II Listed Bank (Use Class E). The site faces Market Place to the north, South Gate to the west and adjoins other buildings to the east and south.
Sleaford is an established Market Town in the middle of the County of Lincolnshire being approximately 17 miles South of the City of Lincoln and where the A15 bypasses the Town providing valuable communication links via the road network to both the A1 at Newark, which is approximately 22 miles away, and towards Boston and the East Coast.
Sleaford has a resident population of approximately 14,500 people and has an established and expanding catchment area.
Accommodation Arranged over three floors, being a former bank the property has useful large bank safes, currently arranged as banking hall on the ground floor, with attractive offices and staff welfare rooms on the first and second floors.
Offering an attractive outlook over the town through the period sash windows. Amenities Currently set out as a banking hall with associated offices etc services All main services connected.
Terms Freehold property. North Kesteven District Council North Kesteven District Council VAT The sale is exclusive of VAT if applicable. Legal costs Each party responsible for their own legal costs.
Viewing Strictly via the agents James & Co
Value & comps
No previous sales 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.
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FAQ
About Former Barclays Bank, 21, Market Place, Sleaford
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