Continuing on our Stranraer and West Wigtownshire theme, there are golden opportunities to purchase both commercial and residential property in The Rhins of Galloway with a Cailean mortgage.
Although Stranraer and surrounding beauty spots such as The Mull of Galloway are not necessarily the first choice for many property hunters due to the apparent distance from any centres of industry – or, indeed, centres of population – this also lies at the heart of the area’s attractiveness to other segments of the population.
There are many people who have decided to settle here in recent years to pursue their dreams of setting up their own art or craft business and escape from the rat race. Similarly, there are owners of internet businesses that can be operated from home, where your “office” is a beautiful lochside bungalow or a townhouse with a sea view or a country cottage where birdsong replaces the rush of traffic past the office window.
It is certainly possible to live the dream in Wigtownshire and although some two hours’ drive from Glasgow, for example, the A77 has been hugely upgraded and includes certain sections of route that run along the rugged coastline with views of Ailsa Craig in the background. This is a magnificent route that must be seen to be believed and there is also a train line from Stranraer to Glasgow via Girvan and Ayr following a similar route. It is considered one of the most stunning railway routes in Britain.
With the recent confirmation of funding of £1.8 million for the regeneration of the town centre and ongoing improvements within the marina, Stranraer can certainly be considered an up-and-coming place to live.
However, some of the house prices in Stranraer will astonish those from further afield as they are so affordable. It makes Stranraer an ideal place to purchase a buy-to-let property or to invest in a commercial property, ranging from warehousing to guesthouses to pubs and hotels.
Current residential properties for sale in August 2016 include:
- a 2-bed flat for offers over £29,000;
- a modern 1-bed flat right in the town centre’s George Street for only £32,000;
- a 2-bed detached bungalow in a rural location for offers over £148,000;
- a 2-bed modernised terraced house near the town centre for £85,000;
- a 3-bed terraced house in the town’s High Street with a guide price of only £60,000;
- a 1-bed flat in the town centre with a freehold offer of £ 24,950, with the current rental income standing at £ 4,740 pa, or a yield of 18.99%.
The opportunities for buy-to-let investors abound in the Stranraer area and Cailean Mortgages is ideally placed to advise clients on the finer details – see our Buy-to-Let page.
Land can also be found for sale at very reasonable prices; eg., there is currently a plot in a prime spot on Stranraer’s northern coastline for offers in the region of only £85,000. Situated on Cairnryan Road, the plot overlooks the stunning Loch Ryan and plans show that the proposed dwelling will have a northerly aspect to take full advantage of the excellent loch views and surrounding coastline.
Further into the town, a plot of 1.52 acres (0.62 ha) has a guide price of £169,000. Formerly housing a large pub, this plot is located very close to the Lidl supermarket and was, in effect, sold for over £800,000 in 2006 to Aldi who had plans for a further supermarket. Having had a change of heart, the Belmont Road plot is now for sale at the knockdown price of only £169,000.
An offer in the region of £30,000 is sought for a residential building plot only a short distance from the town centre and all major amenities including a primary school.
Opportunities to set up a business in Stranraer abound with the right advice on Commercial Mortgages from Cailean. These include:
- for offers over £190,000, the 1-bed equestrian property at Meikle Mark, a detached country cottage located some two miles from the town;
- for offers in the region of £148,000, an 8-bed terraced house near the town centre which has traded in the recent past as both a guesthouse and as a House of Multiple Occupancy;
- for a guide price of £2.65m, an excellent dairy and arable farm for sale in Stoneykirk, a few miles south of Stranraer where the land extends in total to 504.90 acres (204.33ha);
- a bistro and coffee shop with 2-bed flat in nearby Glenluce at offers around £99,950
- the 6-bed Marine House Hotel offering a rare opportunity to lease a high quality, beautifully presented hotel currently trading well, but with potential for expansion of the business;
- the 5-bed Thistle Inn pub, a business which is not restricted in terms of benefiting from all trade sectors including accommodation, food and wet sales;
- for £280,000, a retail property in the town centre that includes an historic family business with an extensive family home on a large site;
- the 4-bed Bar 12, a popular modern restaurant and bar that trades successfully and is well rooted in the area with an established reputation;
- for £249,995, the 2-bed Corner Pocket pub, offering great potential to increase turnover;
- £235,000 will buy you a well-established kennels and cattery (25 dogs, 30 cats) with a 3-bed owner’s cottage;
- and many other such opportunities, the majority of which are in the tourism line such as holiday accommodation or hotels.
As tourism, agriculture and forestry are the three main industries of Wigtownshire and Dumfries & Galloway as a whole, a venture into the tourism market in an up-and-coming area may not be a bad idea for investors in the current market.