6 Church Street, Harleston, Norfolk

Description

An attractive and highly individual Grade II Listed property occupying a prominent position in the heart of Harleston town centre. The property has enormous character and kerb appeal and is presented in good order throughout. The two storey accommodation was most recently occupied as a hairdressing salon and is now vacant, offering potential for a wide variety of commercial or alternative uses, subject to any necessary consents. A further benefit is the self contained studio accommodation, which is currently let and producing £400 pcm (£4,800 per annum), providing an immediate income stream.

Accommodation

Front reception, salon, rear hall, cloakroom, first floor landing and three rooms. Side off-road parking space. Separate studio currently let as a beauticians.

Location

Prominent position in the heart of Harleston town centre.

Tenure / Property Information

Investment Analysis

Indicative base GDV of £150,000, with a cautious £130,000–£165,000 range, referencing the supplied Church Street sales (£80,000–£163,800). Comparables vary in type, size and date, so this is not a formal valuation. The vacant main accommodation has no supported rental evidence; the studio produces £400 pcm.

Investment Snapshot

Strategy Recommendation

Proceed only with strong legal, planning and listed-building due diligence, and price primarily against the studio income and supported comparable evidence. Avoid relying on unconfirmed alternative-use or conversion value.

Works Required

No specific refurbishment defects are evidenced. Allow for inspection, ongoing maintenance and any works required for alternative use, subject to Grade II Listed Building and planning consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £150,000 base GDV, 75% refinancing is approximately £112,500. This could cover the low guide but not reliably the full project cost because works, disbursements and other costs are unsupported. The studio lease has a 12-month break clause in favour of the new owner.

Buy-to-Let Analysis

This is primarily a commercial property, not a conventional residential BTL. The only supported income is the studio at £400 pcm, equating to 4.36% against the £110,000 low guide before fees, works and other costs. Whole-property rental yield cannot be established.

Flip Analysis

A potential resale value is indicated by the supplied Church Street evidence, with a base GDV of £150,000. Flip surplus cannot be calculated because refurbishment, selling and disbursement costs are not evidenced.

Investor Risks & Due Diligence

• Grade II Listed status may restrict alterations and alternative uses.

• The main two-storey accommodation is vacant and its rental income is unconfirmed.

• The studio lease contains a 12-month break clause in favour of the new owner.

• Unknown legal-pack disbursements, seller costs, search fees and transfer fees may be payable.

• Comparable sales vary materially in property type, size, date and price.

Recommendation

Proceed only with strong legal, planning and listed-building due diligence, and price primarily against the studio income and supported comparable evidence. Avoid relying on unconfirmed alternative-use or conversion value.

Strategy Rating

Analysis Confidence

Several relevant local completed sales and a confirmed studio rent are available, but comparable property types differ and there is no property size, EPC, external rental evidence, quantified works budget or complete fee schedule.