LOT 16 · COMMERCIAL PROPERTY
47 Market Street
Wellingborough, NN8 1AE
Rare Substantial Mixed Use Building Measuring Approximately 10,000 sq. ft. - HMO Potential for 16 to 24 Rooms or 12 Flats (Subject to Obtaining Relevant Consents )
Property description
A substantial 10,000 sq. ft. mixed-use freehold in the heart of Wellingborough town centre, presenting both an approved residential/commercial scheme and a significant opportunity for large-scale HMO conversion.
Planning consent is in place for five self-contained flats in the upper parts, together with permission to subdivide the ground floor into two commercial units — delivering an immediate mixed-use investment base.
Beyond the consented scheme, the building’s size and configuration provide clear scope for expansion. A front infill extension and a substantial rear build (as demonstrated by neighbouring properties) could increase capacity to 12 self-contained flats (STPP). Alternatively, the property is exceptionally well suited to a large licensed HMO conversion of 16 to 20 rooms, with potential to extend this further to 20 to 24 rooms with the additional floorspace.
* Illustrative Rental Potential Subject to Consents *
12 flats (with extensions): approx. £95,000–£110,000 p.a. gross rent.
16 to 20 room HMO (straight conversion): approx. £103,500–£130,000 p.a. (gross yield ~17–22%).
20 to 24 room HMO (with extensions): approx. £126,500–£143,000 p.a. (gross yield ~21–24%).
This rare town-centre freehold offers both a secure investment via the approved flat scheme and exceptional yield potential via HMO reconfiguration — providing multiple exit strategies for investors and developers.
Accommodation
Ground Floor
Commercial Space (with potential to split into 2 units, STPP)
First Floor
Approved Planning Permission:
1 x Two-Bedroom Flat
2 x One-Bedroom Flats
Second Floor
1 x One-Bedroom Flat (unmodernised)
Third Floor
1 x One-Bedroom Flat (unmodernised)
Proposed Accommodation Schedule
Ground Floor
2 x Commercial Units (subject to approved split)
Potential conversion of ancillary/rear space for HMO communal facilities (STPP)
First Floor
Approved for 1 x Two-Bedroom Flat
Approved for 2 x One-Bedroom Flats
Alternatively convertible to 6 to 8 HMO rooms with shared kitchens/bathrooms
Second Floor
1 x One-Bedroom Flat (unmodernised)
Alternatively convertible to 4 to 5 HMO rooms
Third Floor
1 x One-Bedroom Flat (unmodernised)
Alternatively convertible to 4 to 5 HMO rooms
Total
5 x Residential Flats (consented scheme)
2 x Commercial Units
OR up to 12 flats with extensions (STPP)
OR 16 to 20 HMO rooms (straight conversion)
OR 20 to 24 HMO rooms with extensions (STPP/licensing)
Location
The property occupies a prominent position on Market Street in the heart of Wellingborough town centre, surrounded by a mix of national and independent retailers, cafés, and local amenities. Wellingborough benefits from strong transport links, with Wellingborough Railway Station approximately 0.8 miles away, providing regular services to London St Pancras International in under an hour. The town is well-served by major road networks including the A45, A509 and A6, linking to the M1 and wider regional centres such as Northampton, Bedford, and Milton Keynes.
Addendum
There is an additional buyers premium of 1.5% Plus VAT applicable on this lot. This is in addition to the buyers admin fee of £1,500 Plus VAT. Both fees are payable to the auctioneers.
Run the Numbers
Explore rental returns and monthly repayments for this property.
Your rental returns
- Gross yield
- 18.5%
- Net yield
- 18.5%
- Annual income
- £110,004
Net yield deducts your annual running costs, before tax and finance.
Yields use the purchase price and assume 12 months’ rent. Include maintenance, insurance, management and vacancy allowances in annual costs. Tax, finance and purchase fees are excluded.
Illustrative estimates only, not financial advice or a lending offer. Confirm funding and the completion deadline before bidding.
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