Kings Head Hotel, Norwich Street, Dereham, Norfolk NR19 1AD

Description

The Kings Head Hotel is a 12 bedroom Grade II listed detached building that dates from the 17th century. It extends to around 580 sq/m and occupies a large 0.7 acre plot with ample off road parking accessed from Cowper Road, two detached outbuildings and large garden to the side. It ceased trading in February 2025, requires improvement, and is sold with vacant possession. It has a ratable value of £19,000 with effect from 1st April 2026.

Accommodation

Lower ground floor: Three cellar rooms. Ground floor: Tow bar areas, restaurant, kitchen, utlity, two sets of ladies and gents toilets, two store rooms, function / gamers room, rear entrance hall. First floor: Landing, seven ensuite bedrooms numbers 6,7,8,9,10,11,12,14, office, cleaning room. Second floor: Self contained one bedroom flat comprising entrance hall, sitting room, bedroom, kitchen, bathroom. Outside: Separate rear detached single storey bedroom block with ground floor bedrooms 1,2,3,4,5, further storage outbuiding, ample off road parking to rear, side garden.

Location

Situated in a prominent position less than half mile east of the town centre at the junction of Norwich Street and Cowper Road, near a comprehensive range of services and amenities.

Tenure / Property Information

Investment Analysis

The available Land Registry evidence comprises nearby residential freehold sales (£130,000–£220,000), not comparable hotel transactions. It does not support a reliable market value or GDV for this 580 sq m, 12-bedroom Grade II listed hotel with outbuildings and 0.7-acre plot. The £19,000 ratable value is not evidence of achievable rent or capital value. A specialist hotel valuation, building survey and legal/planning review are required.

Investment Snapshot

Strategy Recommendation

Do not bid on the guide price using the supplied evidence alone. Consider only a specialist hotel or alternative-use value-add strategy after obtaining a listed-building survey, detailed cost plan, planning and legal review, and independent valuation.

Works Required

Undertake a full building and services survey, assess the improvement works required to the hotel, bedrooms, restaurant, kitchen, toilets, flat, detached bedroom block and outbuildings, and obtain advice on Grade II listed-building consents and relevant operating or compliance requirements. No itemised works cost is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be quantified because there is no supported GDV, refurbishment budget, achievable rent or refinance valuation. The vacant trading history, required improvement and Grade II listing create material execution and funding uncertainty. Specialist valuation and full due diligence are prerequisites.

Buy-to-Let Analysis

A conventional BTL assessment cannot be established. No sufficiently specific rental comparables or auctioneer rent estimate are provided, and the property is configured and described as a vacant hotel rather than a standard residential let. The £19,000 ratable value cannot be used as rent evidence.

Flip Analysis

A flip appraisal cannot be supported from the supplied evidence. The available comparables are smaller or differently classified residential properties on Norwich Street and do not establish a resale value for the hotel, its plot or outbuildings. Selling costs and improvement costs are also unsupported.

Investor Risks & Due Diligence

• Grade II listed status may restrict works and require listed-building consent.

• The property ceased trading in February 2025 and is being sold with vacant possession.

• The property requires improvement, but the scope and cost of works are not supplied.

• No sufficiently specific rental evidence is available.

• Available sold comparables are residential properties and are not directly comparable to the hotel.

• Buyer premium and administration charge total £2,160 including VAT, with potential additional legal-pack disbursements and other charges.

• Hotel operations, alternative use and any redevelopment potential have not been evidenced or confirmed.

Recommendation

Do not bid on the guide price using the supplied evidence alone. Consider only a specialist hotel or alternative-use value-add strategy after obtaining a listed-building survey, detailed cost plan, planning and legal review, and independent valuation.

Strategy Rating

Analysis Confidence

The property description is detailed, but there are no directly comparable hotel sales, no rental evidence, no refurbishment cost plan, no supported GDV and no auctioneer rent estimate.