30 and 30a South Quay, Great Yarmouth, Norfolk

Description

Detached historical building overlooking the South Quay in Great Yarmouth, comprising a vacant main building and a tenanted one-bedroom flat. Built in 1772 by William Burroughs as the Burroughs Wine Lodge, it later became the Gallon Can public house and then the Gallon Pot. The property became a spacious residential home to the current owner. The property offers potential to be divided into flats subject to the necessary planning permission.

Accommodation

Main house: entrance lobby, hall, sitting room, dining room, kitchen, rear hall, utility room, cloakroom, internal store/study, spacious landing, four double bedrooms, two family bathrooms and a spacious attic. Flat: one-bedroom flat with its own external entrance at the side of the building. Outside: gated courtyard with detached studio in the garden and storage shed.

Location

Prominent position overlooking the South Quay in Great Yarmouth, Norfolk.

Tenure / Property Information

Investment Analysis

The available evidence shows same-street freehold sales ranging from £265,000 to £370,000, with two lower sales of No. 34 at £91,000–£95,000. The £91,000–£95,000 evidence appears less comparable, while the £265,000 and £370,000 sales provide the more relevant South Quay evidence. A cautious base GDV estimate of £300,000 is used, with a low scenario of £265,000 and high scenario of £370,000. The estimate remains uncertain because the comparable property types are recorded as “Other”, condition is not supplied, and the subject includes a separate flat and potential planning opportunity.

Investment Snapshot

Strategy Recommendation

Proceed only after legal-pack review, inspection, confirmation of the flat tenancy and planning position, and a robust works budget. At the stated guide range, treat this primarily as a complex refurbishment or owner-occupier opportunity rather than an underwritten BTL or flip until costs and income are verified.

Works Required

No specific works are evidenced. Obtain a full inspection and assess the EPC rating of 30, services, the main house, the one-bedroom flat, detached studio, storage shed and any requirements associated with the historic building. Any subdivision into flats requires the necessary planning permission.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV estimate, 75% refinancing equates to £225,000. Total acquisition and refurbishment cost cannot be calculated because refurbishment requirements and any disbursements are unknown. The refinance outcome is therefore highly sensitive to purchase price, works, finance costs, valuation and the necessary legal/planning position.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £1,500 pcm for a five-bedroom house. No rent is supplied for the one-bedroom flat, and the flat is currently tenanted but its passing rent is unknown. Consequently, whole-property annual rent and yield cannot be established. The property is also offered with a vacant main building and has an EPC rating of 30, with no refurbishment cost evidence.

Flip Analysis

A potential resale value is indicated by the same-street evidence, with a base GDV estimate of £300,000. A flip surplus cannot be calculated because refurbishment costs, finance costs, selling costs and completion disbursements are not supplied. The potential flat-conversion angle is subject to planning permission and should not be included in the base case.

Investor Risks & Due Diligence

• The one-bedroom flat is currently tenanted and its passing rent is not supplied.

• The main building is vacant and its condition and refurbishment requirements are unknown.

• The EPC rating is 30; upgrade requirements and costs are not supplied.

• Division into flats requires the necessary planning permission and is not assured.

• Comparable sales show substantial variation and are recorded under mixed property-type descriptions.

• Buyer premium, admin charge and potentially further legal, search, seller-cost and transfer disbursements apply.

• The property is described as historical, but no specific building or heritage restrictions are supplied.

Recommendation

Proceed only after legal-pack review, inspection, confirmation of the flat tenancy and planning position, and a robust works budget. At the stated guide range, treat this primarily as a complex refurbishment or owner-occupier opportunity rather than an underwritten BTL or flip until costs and income are verified.

Strategy Rating

Analysis Confidence

There is useful same-street completed-sale evidence and one advertised rental figure, but no condition survey, refurbishment budget, flat rent, passing tenancy details, planning confirmation, finance costs or completion disbursement schedule.