Upper Olland Street, Bungay, Suffolk, NR35

LOCATION
6 Upper Olland Street is situated just off St Mary's Street (high street) which is the main through road in the historic and bustling market town of Bungay with a population of about 4,000, located on the Norfolk/Suffolk border. Best known for its Castle ruins, the town sits within a loop of the River Waveney in The Broads National Park. The town has a large catchment area and addition influx of seasonal tourists. Bungay is located just off the A143, which links Bury St Edmunds to Lowestoft and Great Yarmouth, 16 miles to the South of Norwich and 38 miles to the North of Ipswich.

DESCRIPTION
The Property is located in a highly visible position on Upper Olland Street, at the junction with St. Mary's Street. This attractive Listed building is arranged over 2 floors, with a convenience store on the ground floor producing £10,000pa, and an independent 1 bedroom flat on the first floor at a rent of £7,200pa (£600pcm), currently let on an AST.
To the rear of the property there is a large yard, accessed from Quaves Lane. This allows access to the rear of the shop, and also provides suitable space for parking.

PRICE
The vendor is seeking £260,000 for their freehold interest in this investment opportunity.

LEASE
The residential flat has been fully refurbished and modernised with a new residential occupier paying Assured Shorthold Tenancy Agreement at a rent of £600pcm (£7,200pa)
The retail tenant has a 3 year lease from 15th November 2019, paying £10,000pa

EPC
The Energy Performance Certificate is Band C (56) for the commercial element. The residential EPC is available on request.



RETAIL ELEMENT (6 Upper Olland Street)

Description Area sqm Area sqft
Zone A 37.60 (405)
Zone B 24.90 (268)
Zone C 11.82 (127)
Store 30.70 (330)
TOTAL 105 (1,130)

RESIDENTIAL ELEMENT (6a Upper Olland Street)

Lobby
Half Glazed Door Into: Inner hallway with tiled flooring, painted walls and ceiling, light fitting, storage area, storage heater, stairs to first floor With fitted carpet, painted walls, window to side aspect, electric fuse box and doors into:

Shower Room
Vinyl flooring, corner shower unit, pedestal wash hand basin, low level WC, window, radiator towel rail, and extractor fan.

Bedroom
Fitted carpet, painted walls and ceiling, window to front aspect, hanging space.

Lounge
Vaulted ceiling, painted walls, windows to front and rear aspect, TV aerial point, and small storage attic space.

Kitchen
Vinyl flooring, painted walls and ceiling, wall and base units, laminate work top, tiled splash backs, breakfast bar area, sink unit, space for under counter fridge and washing machine, ceramic hob, electric oven, extractor hood, window to side aspect.

Kitchen refit -  all new kitchen cabinets, worktop, flooring, tiling, sink, cooker, hob, hood & down lighters (Nov 2023)
Shower room - New shower, toilet and sink, new floor covering, new tiling (Nov 2023)
Electrics - upgraded electrics with new consumer unit and all other works to get a new EICR (Nov 2023)
New Heating - Modern, energy efficient electric radiators in all rooms (June 2025)
New Carpets throughout (June 2025)
Fully decorated (June 2025)