39-40, King Street, Great Yarmouth, Norfolk, NR30 2PN

Description

Substantial freehold three floor plus basement building. Full vacant possession.

Accommodation

Second floor: Open plan First floor: Open plan, WC Ground floor: Main showroom, office and cloakroom/WC, storage Basement: Large basement area

Location

The property is situated on King Street between its junctions with York Road and Alexandra Road. Public transport links include Great Yarmouth mainline rail station together with a network of local bus services serving the surrounding vicinity. Road links include the A47 and A149. Shopping amenities can be found locally within King Street and Victoria Arcade, with an extensive range of shops, bars and restaurants being found in the town centre around Market Gates Shopping Centre. Recreational pursuits can be found locally at the open spaces of St George’s Park, Bure Park and the Venetian Waterways, as well as the nearby seafront.

Tenure / Property Information

Investment Analysis

The latest completed sale for the same property was £130,000 on 20 January 2026; the same property sold for £150,000 on 25 October 2023. Nearby evidence ranges from £70,000 to £195,000 but relates to different properties and is described as Other or Terraced. A base GDV of £130,000 is therefore used, with an evidence-supported range of £130,000–£150,000. This is indicative only because the building is Grade II Listed, its condition and permitted use are not evidenced, and the accommodation is largely open plan.

Investment Snapshot

Strategy Recommendation

Proceed only after legal, planning, listed-building, condition and fee due diligence. On the supplied evidence, avoid relying on BTL or BRRR assumptions; any offer should be based on verified use, costs and a professional valuation.

Works Required

No specific physical works are evidenced. Before bidding, obtain a full survey and confirm the implications of the Grade II Listing, lawful use, services, heating, parking and any required consents. Any refurbishment allowance remains unsupported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because refurbishment costs, supported rental income, finance costs and the building’s permitted use are unknown. At a £90,000 guide, the known purchase price plus the £1,800 administration charge would be £91,800 before any seller fees, works or other costs. A 75% refinance of the base GDV would be £97,500, but cash extraction cannot be assessed without total project cost.

Buy-to-Let Analysis

A BTL yield cannot be established. The evidence provides asking rents for unrelated one-bedroom flats and a four-bedroom property, but no supported rent for this substantial open-plan Grade II Listed building. Its accommodation and lawful residential use are also not evidenced.

Flip Analysis

The latest same-property completed sale supports a £130,000 base GDV, versus the £90,000 guide. At guide plus the known £1,800 administration charge, the indicative pre-works and pre-selling-cost difference is £38,200. This is not a flip surplus because works, seller fees, finance, tax and selling costs are not supplied, and the listed status and condition may materially affect resaleability.

Investor Risks & Due Diligence

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

• The building’s lawful use and suitability for residential, commercial or mixed use are not supplied.

• No condition, services, heating or parking evidence is available.

• Refurbishment, finance, tax, selling costs and any seller-charged fees are unknown.

• Available rental evidence relates to different properties and cannot support a property-specific yield.

• The accommodation is largely open plan, so bedroom count and rental configuration are not established.

Recommendation

Proceed only after legal, planning, listed-building, condition and fee due diligence. On the supplied evidence, avoid relying on BTL or BRRR assumptions; any offer should be based on verified use, costs and a professional valuation.

Strategy Rating

Analysis Confidence

There is useful same-property Land Registry evidence and a stated guide, but no condition survey, permitted-use evidence, works budget, property-specific rent, seller fees, parking or heating information.