Initial price	£190,000
29/03/25	£170,000
Price Change	-10.53%

This property, a former cafe/restaurant in the heart of Lerwick, Shetland's capital, presents a unique investment and development opportunity. With planning permission granted to convert the 2-storey building into three apartments, the proposed properties have been valued at £500,000. The apartments, comprising two 2-bedroom and one 1-bedroom flat, would offer excellent long-term rental potential, with potential returns of up to £200 per night in peak season. The property's prime location, just yards from Commercial Street and minutes from the Ferry Terminal, makes it an ideal spot for short-term holiday rentals. Additionally, an outbuilding/garage is included in the sale, offering further development potential. The property may also be eligible for rates exemption, and the seller is open to considering pre-auction offers.