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25 Pitgaveny Street, Lossiemouth, Morayshire, IV31 6NT

Offers In Region of £275,000

Key Information

Tenure:Not available
Council tax band:Not available
Broadband:up to 1800Mbps
Mobile signal:*Based on indoor data coverage
EEO2ThreeVodafone

Key Features

Stunning Harbour Location
Planning Permission 22/01881/APP
2 Commercial Units
8 AirBnB Apartments
Excellent Long Term Investment
Suitable for for Residential Development

Description

This development opportunity is situated on Pitgaveny Street in Lossiemouth, offering a prime location overlooking the harbour and within walking distance to local amenities such as shops, cafes, and restaurants. A nearby Co-op supermarket provides convenience for daily essentials. The town is well-connected with educational institutions like St Gerardine Primary School and Lossiemouth High School, while Elgin offers additional educational options and rail links to other parts of Scotland. Lossiemouth itself is a charming coastal town known for its stunning beaches, scenic coastal walks, and a variety of recreational activities. The property at 25 Pitgaveny Street, formerly the Harbour Bar, presents a unique chance for development. It features a commercial space on the ground floor, previously used as a lounge bar, and residential areas on the upper floors. Planning permission has been secured to transform the site into a mixed-use development, including two commercial units and eight self-catering apartments, or alternatively, it could be developed into two luxurious townhouses. The south-facing rear garden and planned parking spaces enhance its appeal as a long-term investment opportunity.

This development opportunity is located on Pitgaveny Street in Lossiemouth, overlooking the harbour. The property is situated in a central position within the town, providing access to local amenities such as shops, cafes, and restaurants. A Co-op supermarket is nearby for everyday essentials.
For education, St Gerardine Primary School and Lossiemouth High School are conveniently located. The town is close to Elgin, which offers further educational opportunities and rail links to other parts of Scotland. Lossiemouth itself provides a range of local services and recreational activities, including its beaches and coastal walks.
The location is well-suited for those seeking a balance between local amenities and travel connections. The proximity to schools, shops, and transport links makes this development opportunity an attractive choice for potential investors or developers.
Property
25 Pitgaveny Street, formerly known as the Harbour Bar, offers a unique development opportunity. The ground floor features a commercial element, which previously housed the main lounge bar and bar area. This space is complemented by extensive service areas to the rear, including male and female toilets.
The upper floors were previously used as the owner's accommodation. The first floor consists of three bedrooms, a reception room, bathroom, and kitchen, with a door opening to the rear garden. The second attic floor contains two additional rooms with reduced height.
Planning permission has been granted (reference: 22/01881/APP) to demolish the existing building and convert it into a mixed-use development. The approved plans include two commercial units on the ground floor and eight Air BnB / self-catering apartments on the first and second floors. This property represents an excellent long-term investment opportunity, offering potential for both commercial and holiday let income.
Alternatively the site is suitable for residential development and would be ideal for 2 luxurious town houses.

External
The rear garden of this property is south-facing and accessible from Pitgaveny Street. Planning permission has been granted for a rear opening from Baker Street, along with the creation of six parking spaces and a bin store.

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St Gerardine Primary School
(0.54 miles)
Number of pupils: 295
Age Range: 5 - 12
Lossiemouth High School
(0.85 miles)
Number of pupils: 617
Age Range: 12 - 18
Hythehill Primary School
(0.87 miles)
Number of pupils: 288
Age Range: 5 - 12
Seafield Primary School
(4.61 miles)
Number of pupils: 362
Age Range: 5 - 12
Bishopmill Primary School
(4.98 miles)
Number of pupils: 386
Age Range: 5 - 12
Elgin Academy
(5.08 miles)
Number of pupils: 1028
Age Range: 12 - 18
Linkwood Primary School
(5.24 miles)
Number of pupils: 314
Age Range: 5 - 12
East End Primary School
(5.29 miles)
Number of pupils: 163
Age Range: 5 - 12
St Sylvester's RC Primary School
(5.35 miles)
Number of pupils: 113
Age Range: 5 - 12
West End Primary School
(5.59 miles)
Number of pupils: 191
Age Range: 5 - 12

Property Calculators

Mortgage

Estimated Monthly Mortgage Payment:
£1,376 /mo.25 Years, 4.5% Interest
Loan
£247,500
Total Repay
£412,706

Land & Buildings Transaction Tax (LBTT)

You’ll have to pay the LBTT of:
£3,350
0% up to £145,000
2% from £145,000 to £250,000
5% from £250,000 to £275,000
Your effective LBTT is 1.22%

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