The Old Dairy, Pound Lane, Heacham, King's Lynn, Norfolk PE31 7ET

Description

A development opportunity with two brick buildings on a plot of approximately 0.25 acres (stms) in the popular coastal village of Heacham A rare opportunity to purchase this development site in the coastal village of Heacham, with two brick buildings on a plot of approximately 0.25 acres (stms). The site comprises the following - The Old Dairy Building, Ground Floor Approx. = 125.16m2, First Floor, approx. = 62.93m2. The main two storey building is of brick and carrstone construction. The Barn and Store, approx 90.75m2, the principal building is of brick and steel frame construction, with a concrete floor previously used as storage/garage area. The Float Charging Shed, the float shed is a single storey open-fronted store, previously used as the charging point for the Milk Floats. The property is principally of brick construction with a steel frame. The yard area is laid to tarmacadam, having vehicular access from Pound Lane and also the High Street, and pedestrian access from the High Street. Heacham village benefits from a range of facilities and amenities, including a gym, primary school and supermarkets.

Location

The Old Dairy, Pound Lane, Heacham, King's Lynn, Norfolk PE31 7ET. Located in the PE31 postcode district. Verify exact position, access, local demand and comparable evidence before bidding.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Development. Set the maximum bid only after reviewing condition, legal pack, finance, rents and sold evidence.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, decoration and any structural, roofing, damp, kitchen, bathroom, external or development works identified.

Rental & Market Context

HB rental/value figures are indicative appraisal estimates and should be checked against current local letting and sold evidence.

Sold within approximately 5 miles

Check recent Land Registry transactions and closely matched local comparables for property type, size, tenure and condition.

Potential BRRR Position

Refinance potential depends on the completed condition, lender valuation, tenure and rental stress testing; development/commercial assets require specialist lender criteria.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the full legal pack and special conditions

• Verify tenure, occupancy, planning and title restrictions

• Inspect condition and obtain contractor quotations

• Confirm finance and insurance availability

• Verify rents and recent sold comparables

• Allow for buyer premium, administration charges and disbursements

Recommendation

Proceed only where verified total project cost supports the intended development strategy with adequate contingency.

Strategy Rating

Development: ★★★★☆ | Resale: ★★★★☆ | Buy-to-Let: ★★☆☆☆