17 Earsham Street, Bungay, Suffolk

Description

Grade II Listed vacant mixed use property spanning three floors with garden to rear. Situated on Earsham Street within the thriving market town of Bungay. This mixed use Grade II Listed property is situated on Earsham Street in Bungay, a well known street within the Suffolk market town. Recently this property has become vacant and offers an ideal work/living opportunity for either a landlord as an investment purchase. This investment has the opportunity to yield £1,200pcm possibly more due to its location. For someone looking for a business/living arrangement this would be a great opportunity.

Accommodation

Retail shop area with back room, kitchen and bathroom on the ground floor, with access to the courtyard at the rear. A separate front entrance hall provides access to the first floor accommodation; stairs lead to the landing, sitting room, bedroom with staircase to a further bedroom in the attic. Separate entrance hall provides access to the accommodation and courtyard garden, landing, sitting room, bedroom, stairs to attic bedroom.

Location

Situated on Earsham Street within the thriving market town of Bungay, Suffolk.

Tenure / Property Information

Investment Analysis

Same-street sold evidence ranges from £100,000 to £235,000, but relates to different semi-detached and terraced properties sold between 2019 and 2021. An indicative GDV range is therefore used cautiously; no direct mixed-use comparable or floor-area evidence is supplied.

Investment Snapshot

Strategy Recommendation

Consider only as a conditional mixed-use BTL or owner-operator purchase after legal-pack, listed-building, EPC, inspection and rental verification.

Works Required

No specific defects are identified. Obtain the legal pack, inspect the vacant three-floor accommodation, and confirm any Grade II listed consent, EPC requirements and works needed before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

An indicative £192,000 GDV supports a theoretical 75% refinance of £144,000. Total project cost cannot be established because refurbishment costs, disbursements and other purchase costs are unknown.

Buy-to-Let Analysis

Using the £798 pcm advertised asking rent and the £130,000 midpoint guide produces approximately 7.4% gross yield before fees, works, finance and operating costs. The auctioneer's £1,200 pcm figure implies approximately 11.1%, but it is only an estimate and not passing rent.

Flip Analysis

Indicative GDV is £192,000, but flip surplus cannot be calculated because works, selling costs and the final purchase price are unknown. Grade II listed status and mixed-use configuration may constrain resale works and buyer demand.

Investor Risks & Due Diligence

• Grade II listed status may restrict alterations and increase approval requirements.

• Mixed-use configuration creates residential and commercial letting considerations.

• The £1,200 pcm rent is an auctioneer estimate, while the supplied advertised asking rent is £798 pcm.

• The property is vacant, so there is no confirmed passing income.

• Buyer premium, administration charge and possible legal-pack disbursements apply.

• Condition, EPC rating, heating, parking and required refurbishment are not evidenced.

Recommendation

Consider only as a conditional mixed-use BTL or owner-operator purchase after legal-pack, listed-building, EPC, inspection and rental verification.

Strategy Rating

Analysis Confidence

Same-street sales and rental evidence are available, but comparables differ in type and date; condition, floor area, EPC, works, disbursements and passing rent are not supplied.