33 Cherry Tree Lane, North Walsham, Norfolk NR28 0HR

Description

Fine four bedroom detached family house set in large 0.42 acre (stms) garden plot This four bedroom detached thatch house extends to around 157 sq/m and benefits from gas central heating and a good size 0.42 acre plot (stms). It has been in the same ownership since built in 1956. It was previously let at £1,035 pcm (£12,420 pa) and is now to be sold with vacant possession. It requires some modernisation to realise its full potential and would make a wonderful family home. The adjoining 1.59 acres (stms) of land is being sold as a separate lot in the same auction. The property is located less than half a mile south west of the town centre near a comprehensive range of services and amenities. First time to market in 70 years making this a rare opportunity.

Location

33 Cherry Tree Lane, North Walsham, Norfolk NR28 0HR. Located in the NR28 postcode district. Verify exact position, access, local demand and comparable evidence before bidding.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Development. Set the maximum bid only after reviewing condition, legal pack, finance, rents and sold evidence.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, decoration and any structural, roofing, damp, kitchen, bathroom, external or development works identified.

Rental & Market Context

HB rental/value figures are indicative appraisal estimates and should be checked against current local letting and sold evidence.

Sold within approximately 5 miles

Check recent Land Registry transactions and closely matched local comparables for property type, size, tenure and condition.

Potential BRRR Position

Refinance potential depends on the completed condition, lender valuation, tenure and rental stress testing; development/commercial assets require specialist lender criteria.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the full legal pack and special conditions

• Verify tenure, occupancy, planning and title restrictions

• Inspect condition and obtain contractor quotations

• Confirm finance and insurance availability

• Verify rents and recent sold comparables

• Allow for buyer premium, administration charges and disbursements

Recommendation

Proceed only where verified total project cost supports the intended development strategy with adequate contingency.

Strategy Rating

Development: ★★★★☆ | Resale: ★★★★☆ | Buy-to-Let: ★★☆☆☆