4 Church Plain, Great Yarmouth, Norfolk

Description

Substantial former bank building with off road parking set in 0.12 acre plot (stms). This impressive former bank building is located in a prominent position near the Market Place. It has had a range of uses over the years, most recently as a community hub and is now to be sold with vacant possession. The property has potential for a variety of uses including residential, office and restaurant, subject to the necessary consents being obtained. The property is not listed and lies within a conservation area. It now requires refurbishment to realise its full potential. According to the valuation office website the property has an area of 280 sq/m, six car park spaces and a rateable value of £23,500 with effect from 1st April 2026.

Accommodation

Ground Floor: Four office rooms, two store rooms, shop, safe room, w.c., kitchen. First Floor: Landing, male and female wc, kitchen, three rooms, boiler room. Outside: Rear yard providing off road parking, access via rear double wooden gates.

Location

Located in a prominent position near the Market Place in Great Yarmouth. The property lies within a conservation area and is not listed.

Tenure / Property Information

Investment Analysis

The guide is £180,000–£200,000 plus fees. The supplied £4,900,000 2024 sale is a substantially different property and the £147,000 2002 sale is too old and not sufficiently comparable. No reliable market value, GDV, refurbishment budget or rental value can therefore be established from the evidence. The property is a substantial vacant former bank of approximately 280 sq m with six parking spaces, requiring refurbishment and with potential uses subject to necessary consents. It is within a conservation area and has an EPC rating of F.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, planning position, conservation-area constraints, building condition and a detailed refurbishment budget. Do not rely on residential conversion, rental income or resale profit without evidence and consent.

Works Required

Undertake a full inspection and refurbishment assessment of the former bank building, including the existing office, sanitary, kitchen, boiler and parking areas. Any change to residential, office or restaurant use requires confirmation of the necessary consents. The EPC F rating should also be reviewed as part of the refurbishment planning. Exact works and costs are unsupported without a survey and specifications.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified. There is no supported post-refurbishment GDV, refurbishment cost, residential consent position, rent or refinance valuation. The conservation-area setting, EPC F rating and potential change-of-use requirement add uncertainty.

Buy-to-Let Analysis

A BTL assessment cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. Residential conversion is only described as a potential use subject to consent, so residential rent and yield should not be assumed.

Flip Analysis

A flip surplus cannot be calculated because no supported GDV, refurbishment allowance, selling costs or confirmed end use is available. The supplied sales evidence does not provide a reliable basis for valuing this property.

Investor Risks & Due Diligence

• Refurbishment is required, but no scope or cost estimate is supplied.

• Potential residential, office or restaurant uses are subject to necessary consents.

• The property lies within a conservation area, creating additional planning and design uncertainty.

• The current EPC rating is F.

• No sufficiently specific rental evidence is available.

• Buyer premium is unspecified and further disbursements or other purchaser charges may apply.

• The supplied sold comparables are either materially different or too old to support a reliable valuation.

Recommendation

Proceed only after reviewing the legal pack, planning position, conservation-area constraints, building condition and a detailed refurbishment budget. Do not rely on residential conversion, rental income or resale profit without evidence and consent.

Strategy Rating

Analysis Confidence

The property description and guide are available, but there is no reliable comparable evidence, rental evidence, refurbishment cost, GDV, planning confirmation or specified buyer premium.