Commercial property specialist Innes England has struck a deal to sell a vacant 1,579 sq ft farm building after a successful application for residential conversion.
The deal saw Louth Park Farm in Lincolnshire bought by a private investor for an undisclosed sum.
Louth Park Farm was owned by The Co-operative Group and was managed on their behalf by Innes England.
Matt Howson, Associate Director at Innes England, who brokered the deal said: ‘The building had been used as farm office but became vacant in 2017 when the previous tenant moved out.
‘The semi-rural location made a residential conversion an obvious choice, given the property’s proximity to the popular town of Louth and its amenities. We therefore recommended applying for change of use from offices to a four-bedroom residential house to maximise value on what was an empty and dilapidated property.
‘Having successfully obtained a change of use, we made a sale quite swiftly and the new owner has the flexibility to convert to a residential property if and when required.’
The buyer of the property, who does not wish to be named, said ‘Over the course of 2019 we were in discussion with Innes England for the purchase of a building known as the Old Farm office at Louth.
‘We found our negotiations with the firm to be conducted on a business-like but amicable basis.’