COVID-19 – Important Auction Information
For Sale By Auction | 11:00, 10 February 2021 | Lot 21

1-3 Wellington Road, Dereham, Norfolk, NR19 2BP

Sold £311,000

  • Mixed Use
  • Tenure: Freehold

Call the team on 01603 505 100 for more information

Auction Date

Wed 10/02/2021

Auction Time

11:00

Auction Venue

Livestream Auction

Excellent freehold investment opportunity in town centre location three apartments (all let) and three shops (one vacant) producing £31000 when fully let

This three storey terrace of shops and apartments is located at the heart of this busy market town and offers an excellent investment opportunity with potential to enhance the existing rental income. Currently the flats are let to long established tenants on an assured shorthold basis jointly producing £15,000 pa. Once fully let the shops will produce a further income of approximately £16,000 pa giving a combined income of £31,000 pa. This building is situated a few steps from the busy market place in a prominent position. Dereham is a busy market town with a wealth of high street shops, recreational and community facilities, Ample public parking is available nearby.

Tenure

Freehold

Accommodation

Ground Floor: Three lock up shops Upper Floors: Two of the flats (3C and 3D)are approached via an external staircase to the rear with the remaining flat (1A) having an access to the side of 1 Wellington Road. Each flat consists of a lounge, kitchen, bathroom and double bedroom.

Schedule of Tenancies:

Shop 1 Let - Second hand shop Shop 3a Let - Florist Shop 3b - Vacant Flat 1A - Rent £425 pcm Tenancy commenced 27.2.12 Flat 3C - Rent £375 pcm Tenancy commenced 9.6.16 Flat 3D - Rent £450 pcm Tenancy commenced 1.6.20

Viewings

Individual 15-minute appointments can be arranged - the next are Friday 5 February - BOOKING ESSENTIAL - Please call the Norwich office on 01603 505100 to book the next available slot

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Breckland Council. Tel: 01362 656870

Solicitors

Trethowens, 1 London Road, Salisbury, SP1 3HP, Ref: Zach Rooney, Tel: 01722 412512

Additional Fees

Buyer's Premium - £900 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £954 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.