Mixed Use
A Freehold mixed use investment opportunity.
The lot consists of two independent lock-up shops, one of which has storage rooms above and one independent self contained two bedroomed flat. Included is a private courtyard which provides parking for several vehicles. The courtyard provides private gated access to the adjacent public car park.
No.7 Damgate Street - Lock up shop with 3 storage rooms above:
Is under long lease to July 2036 generating an annual rent of £13,800. The tenant is a Chinese takeaway. No rent arrears. Commercial class A3.
No.7B Damgate Street - Lock up shop:
Lease running to March 2027 generating £12,500 per annum. The tenant ceased trading in 2021 with the tenants guarantor assuming rent liability, however they are currently in 6 months rent arrears. Commercial class A3.
No.7A Damgate Street - Self contained first floor flat:
Two bedrooms, bathroom, kitchen and sitting room.
Note:
We understand that the tenancy of 7B and 7A was executed under a company lease, said company ceased trading, going into insolvency in 2021. The companys guarantor stepped in to cover rent payments, although these are currently running in six month arrears. A person said to be associated with the tenant continues to live in 7A although we understand they are in the process of finding alternative accommodation.
Location:
Damgate Street in Wymondham, Norfolk, is a charming, historic area rich in architectural heritage. Lined with beautifully preserved timber-framed buildings, some dating back to the 16th and 17th centuries, it offers a glimpse into the town’s medieval past. Highlights include Nos. 29 and 31, notable for their jettied design and period features. The street is steeped in character, blending centuries-old structures with modern living. Positioned near the town’s bustling center and iconic Wymondham Abbey, Damgate Street is a sought-after location, ideal for history enthusiasts and those seeking a picturesque, tranquil environment in a community-oriented Norfolk market town.
Viewing:
On-Site Viewing Strictly by appointment. Call 07771 567205 or 0800 0465454.
Directions:
For SatNav use NR18 0BG. If using 3Words Navigation search: suitable.holiday.ditching
General:
Pre-auction offers considered.
We are advised by the seller that although the lease for 7a and 7b has a rent of £12,500 per annum, a reduced rent has been agreed of £720 per month (£8,640 per annum) due to the tenant ceasing trading in 2021.
We have been made aware this property is in the Wymondham conservation area. Prospective buyers are advised to make all necessary independent enquiries prior to bidding, as any bid made will be binding.
Rivers and Seas - No Risk. Surface Water - Medium.
Solid brick, as built, no insulation (assumed) - Information taken from EPC.
Standard 18 mbps, Superfast 80 mbps and Ultrafast 1000 mbps show as available in this location
EE, O2, Vodaphone and Three show as available in this location.
Sky and BT show as available in this location.
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Off Street
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT).
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
.png)
