Mixed use for sale

FOR SALE BY LIVESTREAM AUCTION ON WEDNESDAY 12 FEBRUARY 2025 AT 11:00AM
TO REGISTER FOR LEGAL PACKS AND BIDDING INSTRUCTIONS PLEASE VISIT OUR WEBSITE

Investment opportunity to acquire commercial shop with four apartments above producing a good yield of £52,749 pa (12.4%)

This mixed use opportunity commands a notable presence in the seaside resort of Great Yarmouth and is producing a combined income of £52,740pa. (12.4% yield).

The ground floor consists of two commercial rooms, with a current longstanding tenant. Its upper levels consists of four thoughtfully appointed apartments all currently let on assured shorthold tenancies. Each consists of an open plan kitchen/living area, bedroom and bathroom.

Beyond its exceptional interiors, this property enjoys a strategic location that places it in close proximity to a wide array of the local amenities and natural surroundings. Residents will find themselves within easy reach of shopping centres, dining establishments, recreational facilities and natural surroundings, catering to every lifestyle need and preference.

Ground Floor Two retail areas currently let to one tenant
First Floor Two one bedroom apartments
Second Floor Two one bedroom apartments
Current Income Retail Area:
Currently producing £20,000 increasing to £25,000 after 5 years

Upper level Apartments:
Producing £32,740 pa
Council Tax Band Flats = A
Business Rates 8 King Street - According to the Valuation Office website this shop has a current rateable value of £10,250 with effect from 1 April 2023.

9 King Street - According to the Valuation Office website this shop has a current rateable value of £7,900 with effect from 1 April 2023.
EPC Right Hand Shop = C
Left Hand Shop = D
Flats = D
VAT Please note that VAT is applicable on the commercial parts of this property
Note Property is tenanted and viewings are being held strictly by appointment only.

The next opportunity to will be on Tuesday 4th February.

Please contact the Norwich Office to book your appointment.

Tenure: Freehold

EPC Rating: C & D

Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Buyer's Premium Fee: £960 inc VAT payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.