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12 & 12A Market Place, Downham Market, Norfolk
Marketed by:
Auction House East Anglia
The Barn, Newmarket Rd, Cringleford, Norwich NR4 6UE, UK
01603 505 100
Freehold Mixed-Use Building with Vacant 1-Bed Flat
12 & 12A Market Place, Downham Market, Norfolk
Sold
£70,000+
• 1 Bedrooms
• Mixed Use
• Freehold
• Part let / part vacant: ground floor commercial premises let; first floor flat vacant
• Current Rating C, D
Description
A ground floor commercial premises currently let producing £6,600 pa and a vacant one bedroom first floor flat in the centre of town. This mixed use building would be an ideal investment with the ground floor commercial premises currently let producing £6,600 pa. The first floor flat is vacant and requires some updating.
Accommodation
Ground floor commercial premises currently let and trading as a barbers. First floor vacant one bedroom flat with its own rear access, comprising an open plan lounge/kitchen, bedroom and shower room.
Location
Located in the centre of Downham Market. The town offers a range of shops, pubs, restaurants and cafes and is within walking distance to the mainline railway station with links to Cambridge and London Kings Cross.
Tenure / Property Information
Tenure |
Freehold |
Occupancy |
Part let / part vacant: ground floor commercial premises let; first floor flat vacant |
EPC |
Current Rating C, D |
Council Tax |
A |
Services |
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services. |
Investment Analysis
The supplied sold comparables are not sufficiently comparable to this mixed-use property. No supported GDV or total market value can be established. The guide is £70,000 plus stated buyer and administration charges.
Investment Snapshot
Guide Price |
£70,000 (plus fees) |
Estimated Annual Rent |
£6,600 pa |
Gross Yield on Guide |
9.4% |
Strategy Recommendation
Consider a hold strategy only after reviewing the legal pack, commercial lease and obtaining a flat rental appraisal and refurbishment quotation. Do not rely on the stated commercial income as the full-property return.
Works Required
Update the vacant one-bedroom flat as required. The evidence does not specify defects, scope or costs, so no refurbishment allowance is estimated.
Rental & Market Context
|
No sufficiently specific external rental comparable identified. |
|
Sold Comparables
The following completed sales were identified within approximately 5 miles:
|
11, Market Place, Downham Market, King'S Lynn And West Norfolk, Pe38 9df |
£360,000 |
|
The Old Playhouse, Wandle Road, Downham Market, King'S Lynn And West Norfolk, Pe38 9df |
£125,000 |
Potential BRRR Position
A BRRR assessment cannot be completed because GDV, flat rental value and refurbishment costs are unsupported. The vacant flat may provide additional income after updating, but this requires verification.
Buy-to-Let Analysis
The commercial premises currently produce £6,600 pa, equivalent to £550 pcm. Against the £70,000 guide alone this is 9.43%, but this excludes any income from the vacant flat and does not establish a whole-property BTL yield. No sufficiently specific flat rental evidence is supplied.
Flip Analysis
A flip appraisal cannot be completed because no supported GDV, refurbishment cost or selling allowance is available. The supplied comparables are not sufficiently comparable.
Investor Risks & Due Diligence
• The first-floor flat is vacant and requires updating.
• No sufficiently specific rental evidence is supplied for the flat.
• Commercial lease terms are not provided.
• Buyer and administration charges apply, with possible additional disbursements and special-condition costs.
• Refurbishment scope and cost are unknown.
Recommendation
Consider a hold strategy only after reviewing the legal pack, commercial lease and obtaining a flat rental appraisal and refurbishment quotation. Do not rely on the stated commercial income as the full-property return.
Strategy Rating
HB Rating |
★★★☆☆ |
Analysis Confidence
Confidence |
Low-Medium |
The passing commercial income, guide price, tenure and occupancy are supplied, but flat rent, GDV, refurbishment cost, lease terms and total purchase costs are not sufficiently evidenced.
Auction Details :
Auction House East Anglia
Auction Date :
21/10/26
Lot Number :
005
Property Location:
12 & 12A Market Place, Downham Market, Norfolk
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