Initial price	£475,000
14/02/25	£425,000
Price Change	-10.53%

This historic building in Ramsey's quayside offers a unique opportunity to purchase the freehold and redevelop the property. The ground floor space, currently 248 sqm, could be maintained as commercial, such as a restaurant or garage, while the upper floors could be converted into luxury harbourside living accommodation. The building has a rich history, having been a former guest house for sailors, offices, and restaurant, and has stunning harbour views. With potential to subdivide the ground floor into smaller units, convert the rear to a 2-car garage, and create apartments on the first and second floors, this property has the potential to return a net yield of just under 10% per annum. Architects' drawings are available upon request, and the redevelopment may even qualify for a government grant subject to a successful application.