13 Mere Street, Diss, Norfolk

Description

A Grade II Listed end of terrace building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on first and second floors plus a Cellar. VAT is not applicable to this lot. 8 week completion.

Accommodation

Ground Floor Shop: gross frontage 21'4", internal width 19'5", shop depth 56'0", built depth 74'6", sales area approximately 914 sq ft, store area approximately 160 sq ft. Cellar: approximately 147 sq ft with 4'6" restricted head height. First Floor Ancillary: approximately 643 sq ft plus WC. Second Floor Ancillary: approximately 340 sq ft. Total area: approximately 2,204 sq ft.

Location

Located close to the junction with Chapel Street within the pedestrianised section of Mere Street, amongst such multiples as Greggs, Superdrug, Card Factory, Costa Coffee, Coral, Nationwide Building Society, Betfred, Holland & Barrett and many more. Diss is approximately 19 miles south-west of Norwich, 23 miles north of Ipswich and 19 miles north-east of Bury St Edmunds, with access via the A140, A1066 and A143.

Tenure / Property Information

Investment Analysis

Indicative GDV is based only on the supplied Mere Street completed sales: £170,000 for No. 25 in March 2026, £210,000 for No. 14 in August 2025 and £180,000 for No. 5 in October 2021. These are not fully comparable because property types and accommodation differ from this Grade II Listed shop with ancillary upper floors. The £1,400,939 sale of No. 36 is not treated as comparable because its recorded type and price are materially different. A broad evidence-led range of £170,000–£210,000 is therefore used, with £180,000 as the base case; this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on yield or refurbishment assumptions at present. Proceed only after legal review, a building survey, confirmation of permitted use and a supported commercial rent or resale valuation; otherwise treat the lot as insufficiently evidenced.

Works Required

Obtain a full building survey and specialist Grade II Listed assessment; verify lawful use, condition, services, fire and accessibility compliance. Any repairs, alterations or reconfiguration should be scoped only after inspection and relevant listed-building/planning consents. The restricted-headroom cellar should be treated as ancillary storage only unless specialist advice supports otherwise.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £135,000 guide, the indicative 75% refinance amount against the £180,000 base GDV is £135,000 before considering lender criteria, finance costs, works, fees and taxes. The refinance position cannot be assessed fully because refurbishment costs, rent, valuation methodology and additional auction fees are unknown. Grade II Listed status may constrain works and refinancing.

Buy-to-Let Analysis

BTL income and yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The building is vacant, so there is no passing rent. Commercial letting demand, permitted use and the suitability of the upper ancillary accommodation require verification.

Flip Analysis

The supplied sales suggest an indicative resale range of £170,000–£210,000, with £180,000 as a cautious base case. A flip surplus cannot be calculated because refurbishment costs, selling costs and other acquisition charges are not supplied. The short 8-week completion period and listed status increase the need for early legal and building due diligence.

Investor Risks & Due Diligence

• Grade II Listed status may restrict alterations and increase consent requirements.

• The building is vacant and no passing rent or reliable rental estimate is supplied.

• No condition or refurbishment evidence is provided, so total project cost cannot be calculated.

• Additional non-optional auction fees may apply beyond the stated £1,500 administration charge.

• Completion is required within 8 weeks.

• The cellar has restricted head height of approximately 4 feet 6 inches.

• EPC, council tax, parking and heating information is not supplied.

• The available sold comparables are limited and not fully comparable with the subject shop and ancillary accommodation.

Recommendation

Do not bid on yield or refurbishment assumptions at present. Proceed only after legal review, a building survey, confirmation of permitted use and a supported commercial rent or resale valuation; otherwise treat the lot as insufficiently evidenced.

Strategy Rating

Analysis Confidence

Three recent same-street completed sales provide some market context, but they differ in type and there is no rental evidence, condition survey, EPC, detailed fee schedule, permitted-use confirmation or refurbishment budget.