8 bedroom semi-detached house for saleOld Market Street, Thetford
Sold STC £385,000
- RARE OPPORTUNITY TO ACQUIRE A LANDMARK BUILDING
- GRADE II LISTED
- RESIDENTIAL PROPERTY & THREE FLATS
- DWELLING WITH 5 BEDROOMS & 2 BATHROOMS
- WELL PRESENTED
- ATTRACTIVE GARDENS
- FLATS GENERATING AN INCOME APPROX £17000 PA
- OF INTEREST TO OWNER OCCUPIERS/SPECULATORS & DEVELOPERS
- GAS RADIATOR HEATING THROUGHOUT
- VIEWING ESSENTIAL
A rare opportunity to acquire a landmark building occupying a central position within the town currently arranged as a residential home incorporating three further flats generating a yield in the region of £17,000 per annum.
Overview - The sale of The Old Gaol presents a rare opportunity to acquire a landmark building occupying a central position within the town. The building is predominantly brick and flint construction and is understood to have been re-built in 1796 and was enlarged in 1816 and is subject to a Grade II listing. The property is currently arranged as a private residential home arranged over two floors with three further flats on the second floor which are all currently let on shorthold assured tenancies and produce a yield in the region of £17,000 per annum assuming full occupancy.
We understand from the owners that in the past the property has been arranged to include a further flat occupying the first floor level of the property. As well as being of interest to owner occupiers the property may also be of interest to speculators and developers. Interested parties should satisfy themselves of the planning possibilities by engaging with the local authorities in order to gain the necessary permissions and consents. Each of the second floor flats are billed independently for council tax and have there own heating systems and fire alarms.
The main house provides well presented accommodation with a versatile layout that could include up to five bedrooms, a spacious lounge/dining room, fitted kitchen and two bathrooms. Additionally there is an attractive courtyard garden to the rear of the property. To the right of the property, as viewed from the front, there is parking for two cars although we understand this area is not presently represented on the deeds for the property but has been used unchallenged for many years.
In further detail the accommodation comprises:-
Door from Old Market Street opens to:
Communal Entrance Hall - With communal stairs to first floor landing; internal door to main house (4 Old Market Street):
Reception Hall - With stairs to first floor; large understair cupboard.
Bedroom - With radiator; fireplace (closed); window to rear.
Lounge/Dining Room - With radiator; gas fire standing in Victorian style fireplace and surround; ceiling beams; windows to front and side.
Kitchen - With a range of wood fronted base units and drawers with work surfaces over to three sides; inset moulded sink with mixer tap and tiled splashback; spaces for washing machine, fridge and tumble dryer; built in under oven with gas hob; matching wall units; window to side; door to:
Rear Hall - With airing cupboard; doors to bathroom and two bedrooms.
Bathroom - With a white suite comprising low level w.c; pedestal wash basin; panel enclosed bath; walk in shower alcove; ceramic tiled floor; fully tiled walls; recessed lighting.
Bedroom - With radiator; range of fitted bedroom furniture; window over looking courtyard garden.
Bedroom/Study - With radiator; window overlooking courtyard garden.
First Floor Landing - With radiator; window to rear.
Bedroom - With radiator; window to front; door to:
Dressing Room - With radiator; window to side.
Bedroom - With radiator; window to side.
Bathroom - With a white suite comprising low level w.c; pedestal wash basin; panel enclosed bath; radiator; extractor fan.
Communal First Floor Landing - With potential access to first floor of main dwelling; staircase leading:
Communal Second Floor Landing - With doors to flats A, B, and C.
Flat A - With entrance hall; compact sitting room; lobby to fitted kitchen; double bedroom; separate first floor bathroom; gas fired radiator heating. Currently subject to a shorthold assured tenancy agreement and generates £5720 per annum.
Flat B - With open plan lounge/bedroom; fitted kitchen; bathroom; gas fired radiator heating. Currently subject to a shorthold assured tenancy agreement and generates £5460 per annum.
Flat C - With good size lounge; upgraded fitted kitchen; double bedroom; bathroom; gas fired radiator heating. Currently subject to a shorthold assured tenancy agreement and generates £5760 per annum.
Outside - There is a courtyard garden which is enjoyed by the main house which is mainly block paved for ease of maintenance and is partly enclosed by a flint retaining wall and has gated access to the rear. To the right hand side of the property is a block paved parking area for two cars. As previously mentioned we understand from the vendors this area is not currently on the property deeds but has been used unchallenged for many years.
Agents Note 1 - Copies of the tenancy agreements for each of the flats have not been seen by the agents at the time of preparing these sales particulars.
Agents Note 2 - The floorplans are divided for indicative purposes only due to the varying thicknesses of the walls.
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