Victoria House, 14 Lichfield Street, Fakenham, Norfolk

Description

A substantial detached three-storey house with two storey workshop, situated on a private road. An increasingly rare opportunity to acquire a substantial three-storey detached property with a large attached two-storey workshop/store offering scope for enhancement and potential conversion, subject to the necessary consents. The property is offered for sale with no onward chain. The property is believed to date from the 1860s and was built for William Utting, a former brewer from Lichfield, Staffordshire, who was responsible for constructing a number of the neighbouring properties on Queens Road. Retaining a wealth of original character, the accommodation is arranged over three floors plus a cellar and provides considerable flexibility. The master bedroom benefits from a south-facing balcony overlooking the private and secluded rear gardens. The gardens also incorporate a detached brick-built garage, wood store and gardener's WC. Of particular interest is the substantial attached two-storey workshop/store, extending to approximately 30ft in length on each floor. Benefiting from power and light and existing access arrangements, the workshop offers considerable scope for alternative uses or conversion, subject to obtaining any necessary planning permissions and building regulation approvals.

Accommodation

Entrance hall, sitting room/dining room, breakfast room, kitchen and cellar. First Floor: Landing and staircase to second floor, four bedrooms, one with ensuite, main bathroom, study. Second Floor: Studio/landing area, bedroom. Two Storey Workshop: Attached and can also be accessed from bedroom one on the second floor.

Location

Victoria House stands adjacent to Lichfield Street with access through a central passageway providing a parking space and leading to the south facing rear garden which is walled to the side boundaries and fenced to the rear. Steps lead up from a brickweave patio onto the raised, mainly lawned garden. There is also a brick built gardener's WC and store attached to the rear of the main house.

Tenure / Property Information

Investment Analysis

No HM Land Registry completed sales or other valuation evidence was supplied. The £325,000–£350,000 guide is an auction guide, not a market valuation. The workshop conversion potential is expressly subject to planning and building regulation approvals, so no supported GDV can be established.

Investment Snapshot

Strategy Recommendation

Proceed only after full legal, building and planning due diligence, including investigation of the workshop and any special-condition charges. Do not set a bid ceiling from the supplied evidence alone.

Works Required

No specific defects or required works are evidenced. Allow for inspection-led maintenance and any enhancement works only after survey. Investigate the attached two-storey workshop for potential conversion, subject to planning permission and building regulation approval.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no supported GDV, refurbishment budget or comparable evidence is supplied. Refinancing at 75% of GDV cannot therefore be calculated. The workshop may offer additional value only if the necessary consents and approvals are obtained.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £1,100 pcm, equivalent to £13,200 annually, and is not a confirmed achieved or passing rent. Against the guide range, this indicates approximately 3.77%–4.06% gross yield before finance, insurance, maintenance, voids, tax and auction-related costs. A full net yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated because no completed-sale evidence, supported GDV, refurbishment allowance or selling-cost allowance is provided. The conversion opportunity is conditional on planning and building regulation approvals, creating material valuation uncertainty.

Investor Risks & Due Diligence

• Workshop conversion or alternative use requires planning permission and building regulation approval.

• The £1,100 pcm figure is an advertised asking rent rather than an achieved or passing rent.

• No completed-sale comparables or supported GDV are supplied.

• Additional disbursements, search fees, seller-cost reimbursement, legal fees or transfer fees may apply under the special conditions.

• The property has an EPC rating of E.

• Only one parking space is evidenced.

• Heating details are not supplied.

Recommendation

Proceed only after full legal, building and planning due diligence, including investigation of the workshop and any special-condition charges. Do not set a bid ceiling from the supplied evidence alone.

Strategy Rating

Analysis Confidence

The property description and auction fees are detailed, but there are no completed comparables, supported GDV, refurbishment costs, heating details, planning evidence or confirmed rental evidence.