9, Norfolk Street, WISBECH, Cambridgeshire, PE13 2LD

Description

Mixed use property set over four floors with extensive outbuildings to be sold with vacant possession. Having been in the same family for many years and previously operated as a butchers, the property is now to be sold with vacant possession. The property requires full refurbishment throughout and has potential for extension to the rear subject to obtaining planning permission. The property benefits from a basement and large outbuildings that have been previously used as prep rooms for the butchers.

Accommodation

Cellar, Coal Store, Shop floor, Office, Kitchen, Lounge, Bedroom 1, Bedroom 2, Bedroom 3, Prep Room

Tenure / Property Information

Investment Analysis

The supplied Land Registry comparables on Norfolk Street range from £73,000 to £82,500, excluding the materially higher £542,995 sale. The subject is mixed use, vacant, and requires full refurbishment, so these residential/other comparables provide only a broad market context rather than a firm post-works valuation. A base GDV of £80,000 is used as an indicative estimate, with £73,000 low and £82,500 high scenarios. No evidence supports a refurbishment cost, rental value or planning uplift.

Investment Snapshot

Strategy Recommendation

Proceed only after detailed inspection, contractor pricing, legal review of the mixed-use use and outbuildings, and investigation of planning potential. Do not rely on a BTL or flip appraisal until rent and works costs are evidenced.

Works Required

Full refurbishment throughout, based on the auction description. The required scope, costs, statutory compliance requirements and condition of the cellar, outbuildings and services are not evidenced. Any rear extension remains subject to planning permission.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Indicative base GDV is £80,000, implying 75% of GDV of £60,000. Refurbishment costs are unavailable, so total project cost, equity requirement and cash left in cannot be calculated. The known £1,800 contract documentation fee and any seller-charged completion fees would also need to be included.

Buy-to-Let Analysis

A BTL assessment cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant and requires full refurbishment, with EPC, heating and parking information unresolved.

Flip Analysis

A flip surplus cannot be calculated because refurbishment costs and any selling allowance are unsupported. The evidence indicates a full refurbishment requirement, while the comparable sales provide only a broad resale reference range of £73,000–£82,500.

Investor Risks & Due Diligence

• Full refurbishment is stated but no survey, schedule of condition or cost estimate is supplied.

• The property is mixed use, so the supplied residential and 'Other' comparables may not reflect its value accurately.

• Rear extension potential is expressly subject to obtaining planning permission.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• EPC is listed as TBC and heating and parking information are unresolved.

• A £1,800 inclusive-of-VAT contract documentation fee is payable, and the seller may charge additional completion fees under the Special Conditions of Sale.

Recommendation

Proceed only after detailed inspection, contractor pricing, legal review of the mixed-use use and outbuildings, and investigation of planning potential. Do not rely on a BTL or flip appraisal until rent and works costs are evidenced.

Strategy Rating

Analysis Confidence

There are several nearby completed sales and a stated guide price, but the property is mixed use and requires full refurbishment; rental evidence, works costs, service condition, EPC, planning position and potentially applicable completion fees are not supplied.