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Lot 7 Sold: £305,000

Auction: Thursday 15th July 2021

The Old White Lion, 112 King Street, Great Yarmouth, Norfolk NR30 2PR

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Lot 7   Click here for addendum

Residential Investment – 6 Flats (1 in shell condition) plus Planning for 6 additional Flats
Gross Yield 10%

Situation

Located on the corner of King Street and Nottingham Way in this mixed commercial and residential area, close to the Town Centre and Sea Front.
Great Yarmouth is a popular coastal resort, located approximately 18 miles east of Norwich, 8 miles north of Lowestoft and benefits from good road links via the A47, A143 and the A12.

Property

A Grade II* Listed former public house beautifully converted approximately 10 years ago comprising 5 Self-Contained Flats and 1 Self-Contained Flat in shell condition planned on ground, first and second floors.
In addition the property includes an adjoining Site with Planning for an additional 6 Self-Contained Flats (See Planning).

Planning

Planning Permission and Listed Building Consent was granted by Great Yarmouth Borough Council on 7th November 2011 for “Conversion and extension of public house to provide seven residential units and a restaurant” (ref: 06/11/0194/F and 06/11/0195/LB). Subsequent revisions were granted, planning was implemented and the latest scheme provides for the development of 6 new build Flats, in addition to the existing 6 Flats (one in shell condition).

Planning Documents and Plans are available from the Auctioneers.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: There is a 6 Week Completion.

VIRTUAL TOUR
Click here to view the virtual tour of Apartment 4.
Click here to view the virtual tour of Apartment 10.
Click here to view the virtual tour of Apartment 12.
Click here to view the virtual tour of Apartment 1.
Click here to view the video tour of Apartment 2.
Click here to view the video tour of Apartment 3.

Enquire about this lot:

Photo of Jonathan Ross

Jonathan Ross
020 8492 9449
jross@barnettross.co.uk

Photo of Elliott Greene

Elliott Greene
020 8492 9449
egreene@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.