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2 bedroom flat for sale

Station Road, Reepham, Norwich, Norfolk, NR10 4LF

Guide Price* £130,000

Property Description

Key features

  • Substantial Grade II Listed freehold & ground rent investments
  • Current income approximately producing 10,611.28 per annum
  • Located in the sought after Norfolk market town of Reepham

Full description

Tenure: Freehold

Unsold, please refer to Auctioneer For Sale By Auction At Barnham Broom Golf & Country Club On 02/08/2018 at 11:30 am.

GUIDE PRICE - £130,000 - £150,000

DESCRIPTION:
An opportunity to acquire freehold premises within the sought after North Norfolk market town of Reepham. This lot is offering ground rents of five leasehold properties currently producing £250 per annum and raising to £500 per annum in 2019, and doubling every 33 years. Also included is a commercial unit that is currently leased to V's Caf and this produces £5,350 per annum with commitment for a further 12 years. There is a spacious two bedroom first floor apartment that is occupied by an exceptional long term tenant on an assured short hold tenancy agreement producing £5,010.48 per annum. Located in the sought after historic market town of Reepham where a wide range of facilities including a selection of bijou shops, including a small supermarket, several cafes, The Dial House and two public houses. This would benefit from updating throughout and would ideally suit an investor.

ACCOMMODATION:
V's Caf:
Ground Floor: Seated caf area, kitchen/preparation area, storage area, and cloakroom.


First Floor Apartment:
Ground Floor: Entrance hall with stairs to first floor.
First Floor: landing, lounge, kitchen, two bedrooms, bathroom.
Exterior: Allocated parking spaces to rear.

TENURE:
Freehold. Subject to an assured short hold tenancy agreement and commercial lease.


VENDORS SOLICITORS:
Hansells Solicitors, 1 Norwich Road, Aylsham, Norfolk, NR11 6BN.
For the attention of Mr C Taylor - Tel: 01603 275859.

VIEWINGS:
By arrangement with the Joint Auctioneers: William H Brown, 4 Townsend Court, Reepham, Norfolk, NR10 4LD - Tel: 01603 873208.

Viewings
Open viewings:
Saturday 14th July 2pm - 2.30pm
Thursday 19th July 2pm - 2.30pm
Saturday 28th July 2pm - 2.30pm

CONDITIONS OF SALE
The Conditions of Sale will be deposited at the offices of the auctioneers, William H Brown, and vendors solicitors seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30am. Prospective purchasers are advised to check with the auctioneers, William H Brown, before the sale that the property is neither sold nor withdrawn. The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

Guide and Reserve Prices
Guide Price: An indication of the seller???s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Reserve Price: The seller???s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

NOTE
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits. The sale of each lot is subject to a contract documentation charge of £850.00 (Inclusive of VAT) payable on the fall of the hammer. If you are unable to attend the auction for any reason you can still bid on the property either by telephone or proxy bid, please contact the auctioneers for further information. Guidance notes are set out in the catalogue in relation to auction property, particularly from a purchasing perspective.

William H Brown are contactable at 5 Bank Plain, Norwich, Norfolk, NR2 4SF. Tel 01603 598975.

Visit our Website www.williamhbrownauctions-norwich.co.uk


Listing History

Added on Rightmove:
28 June 2018

Map & Street View

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*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.”

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 William H. Brown, Norwich - Auctions on 01603 598975.


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