26 and 26a Northgate Street, Great Yarmouth, Norfolk NR30 1BA
- PROPERTY TYPE
Mixed Use
- SIZE
Ask agent
Key features
- Valuable freehold mixed use investment producing £38,880 pa
- Large double shop and 4 flats
- Prominent high street location
- Further development potential
- Guide price: £240,000 - £260,000
- For sale by livestream auction
- Unless previously sold or withdrawn prior
- 11:00am, Wednesday 23 October 2024
Description
SOLD AT AUCTION FOR £261,000
A substantial mixed use property comprising of a double fronted shop (2,700 sqft ground floor) and 4 flats all let producing a combined income of £38,800.
This prominent mixed use property comprises of two shops currently combined as one business, the commercial space extends to 2,700 sqft. The upper floors include 2 x two bedroom flats and 2 x one bedroom flats. All are fully let and the combined income is £38,880 per annum.
There may be future development potential to add a number of further residential units (subject to planning permission).
This is an excellent investment opportunity with some considerable uplift potential.
Accommodation and tenancies Commercial space:
Ground Floor: Double shop unit Let till December 2024 Income £12,000
First Floor: Store, wc
Flats:
1 - One bedroom £535 pcm Periodic tenancy
2 - Two bedroom £595 pcm Fixed tenancy until 21st Nov 24
3 - One bedroom £535 pcm Periodic tenancy
4 - Two bedroom £575 pcm Periodic tenancy
Total income £3,240 pcm £38,880 pa
Business Rates 1 April 2023 to present: £12,750
Council Tax Band A
Viewings The next viewings are on Tuesday 15 October and Monday 21 October. To book an appointment please call the Norwich office.
Tenure: Freehold
EPC Rating: Please refer to legal pack
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: £1200 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.
26 and 26a Northgate Street, Great Yarmouth, Norfolk NR30 1BA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Great Yarmouth Station0.3 miles
- Berney Arms Station4.3 miles
About Auction House, East Anglia
The Barn Newmarket Road Cringleford Norwich NR4 6UE
Market position
Auction House East Anglia are firmly established as East Anglia's no.1 property auctioneers (based on lots sold) and we sell over 80% of lot entries in our local auctions. We hold regular auctions in Norfolk and Suffolk and Cambridgeshire and have offices in Norwich, Kings Lynn, Peterborough and Ipswich.
Trusted BrandAuction House East Anglia is part of the Auction House UK group of 40 regional auction rooms covering England, Scotland and Wales; the network sells more properties 'under-the-hammer' that any other auctioneer and are multi award winners.
More auctionsAuction House East Anglia hold 7 regional auctions per year, providing sellers short sale lead in times and more opportunity to sell, as well as weekly national auctions.
Expert property auctioneersAuction House East Anglia is directed by Bryan Baxter as its resident auctioneer. Bryan's team is highly skilled and knowledgeable, ensuring that accurate advice is provided to sellers around Reserve and Guide Price setting. Bryan is also a regular 'celebrity' auctioneer featuring on the TV program Homes Under The Hammer.
Types of property we sellWe sell residential and commercial property and land, including land and tenanted investments.
Help & adviceFriendly free advice without obligation and that includes auction valuations. We visit all properties when providing advice this ensures accuracy
Open House ViewingsWe organise attend three to four viewing sessions at each property lot entered into auction. This approach ensures we meet prospective buyers and creates the multiple viewing system creates prospective purchaser competition
Areas coveredNorfolk, Suffolk, Cambridgeshire, North Essex and South Lincolnshire
Powerful marketingIn order to get the best price each property needs effective promotion on the market, so we use the major UK property portals and our own auctionhouse.co.uk/estanglia website. Properties are also marketed via local and regional press such as the Eastern Daily Press, the Peterborough Telegraph, Your Local Paper and the East Anglian Daily Times
Choice of auction methodAuction House East Anglia provides non-conditional (immediate exchange) local and online auctions and conditional (flexible exchange) online auctions. The auction team will provide advice on the most suitable method of auction for your property or land.
Notes
Disclaimer - Property reference 202409292128sq_zx0w. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House, East Anglia. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, East Anglia on 01603 361653.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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