Potential Rental Value £550pcm At lha Rates / £6,600pa
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The property is a semi-detached villa located in Lerwick, the main town and port of the Shetland Islands. The property is deemed to be a dangerous structure and legal notices were served a number of years ago without remedial action. As such, no internal inspection is available but is believed to be at least two, possibly three, bedrooms and is likely to have at least living room, kitchen and bathroom. The external render requires urgent attention and the property is also believed to be in need of a full programme of refurbishment internally, hence the highly competitive Guide Price. This property offers an exciting opportunity to add significant value through a programme of works to produce attractive retained equity for rental or profit if for resale. Projects of this type always attract high levels of demand and early expression of interest is recommended.
No internal viewings
Exciting development opportunity
Attractive guide price
Potential to add significant value
Resale or rental outcomes
Potential rental value £550pcm at lha rates / £6,600pa
Lerwick is the main town and port of the Shetland Islands and offers a range of retail and leisure services. The port is busy wish fishing and ferry vessels, and the harbour also services vessels supporting the offshore oil industry. Three schools serve the area and further education is provided by Shetland College in partnership with University of the Highlands and Islands. Two airports are within reach and there is an overnight ferry service linking Shetland to Orkney and Aberdeen.
Unsafe properties are evidently in a condition that poses a serious risk to the health or safety of occupants or visitors, or where the way the home is marketed suggests it is unsuitable for occupation in that condition. There is little point in a condition survey being undertaken on a home that is unfit for occupation in any case and is being advertised as such.
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Guide Price: The “Guide Price” an indication of the seller’s minimum acceptable price at auction. The guide price can be shown in the form of a minimum and maximum price range, or as a single price figure. This is subject to change up to and including the day of the auction and will not necessarily be the final selling price at auction.
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