INVESTMENT OPPORTUNITY - £28,000 per ANNUM GROSS INCOME. Guide Price £400,000 - £425,000. The property consists of a semi detached retail unit currently occupied by a restaurant/take away. There is a generous 4 bed apartment above and two further one bedroom flats to the rear.
The property consists of a semi detached retail unit currently occupied by a restaurant/take away. There is a generous first floor residential accommodation comprising four bedrooms and two further one bedroom flats to the rear. Each flat has its own private outdoor terrace area.
The premises are of traditional construction with large single glazed timber frame display windows under an awning leading to a rendered first floor with a flat roof.
To the rear of the ground floor there is a side entrance leading into a hall way. Two one bedroom flats lead off this hallway and a stair case leads to the large four bedroom flat above.
Internally the premises consist primarily of the front retail accommodation providing carpeted floors to plastered and emulsioned walls, under an artex ceiling with surface mounted strip fluorescent lighting.
4 Bedroom 1st floor Flat
Large and spacious open plan flat which benefits from open plan living. The main living area comprises of a lounge / kitchen / diner. The fitted kitchen has a built in oven & hob, fridge/freezer and breakfast bar. There are four bedrooms the master having fitted wardrobes. There is a lovely modern bathroom which has a tap shower attachment over the bath. There is a large sun terraced balcony, and ample free parking to the front.
2 x One Bedroom Ground Floor Flats
Accessed from the side of the property these two one bedroom flats were only recently converted so are still of very modern decoration. They each have an open plan living area, a separate bedroom and bathroom. Each backs on to individual court yard gardens.
Description M² Sq Ft
Retail 104.22 1,121
Flat No 1 43.71 471
Flat No 2 45.06 485
First Floor Flat 77.07 830
TOTAL 270.06 2,907
Restaurant and 1 bed flat - £1208pm (appox 6 yrs lease remaining)
First Floor - 4 Bed Flat - £700pm (currently up for re-let)
1 Bed Flat - £425pm (Currently let out on periodic AST)
Total = £2333pm or £27,996 per annum
Attached land: Parking for 8-9 cars
Currently all on one title deed.
Bacton is a coastal town in North Norfolk, approximately 20 miles from Norwich city centre, and 4.5 miles north of the nearest town, North Walsham.
The subject property is located in the centre of the village of Bacton, approximately half a mile south of the infamous Bacton Gas Terminal, and in close proximity to a number of the camp sites that exist in the local area.
The property is located on the coast road (B1159) close to the junction with the North Walsham Road.
North Norfolk Council
EPC rating: E.