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Our Summary
- A substantial and highly valuable investment opportunity
- Considerable potential to uplift current income
- For sale by livestream auction
- For sale by auction on Wednesday, 29 Jul 2026 at 10:00Venue: Livestream AuctionA rare opportunity to acquire an award-winning residential investment in the heart of ReephamOccupying an enviable position just a few steps from the historic Market Place in the highly sought-after town of Reepham, The Old Maltings represents an exceptional opportunity to acquire a substantial residential investment of considerable quality and long-term potential
- There is clear potential to enhance rental income over time as tenancies change and are reviewed, whilst investors may also identify the prospect of increasing overall capital value through the eventual sale of individual apartments and houses, subject to any necessary legal arrangements
- In addition, the development includes substantial storage rooms and workshop accommodation which may offer scope for conversion into one or possibly two additional residential dwellings, subject to obtaining all necessary planning consents
- Investment opportunities of this calibre are seldom available, combining immediate income, excellent occupancy, outstanding presentation, proven tenant demand, asset management opportunities and future development potential,AccommodationFlat 1 - 2 Bed Currently Let £570Flat 2 - 2 Bed Currently Let £575Flat 3 - 2 Bed Currently Let £575Flat 4 - 2 Bed Currently Let £505Flat 5 - 2 Bed Currently Let £500Flat 6 - 1 Bed Vacant Potential Rent £700 pcmFlat 7 - 2 Bed Vacant - Potential Rent £850 pcmFlat 8- 2 Bed Currently Let £815Flat 9 - 1 Bed Currently Let £445Flat 10 - 1 Bed Currently Let £ 470Flat 11 - 2 Bed Currently Let £595Offices and Workshops VacantTotal income currently £79,200 paAll units have parking spaces
- They are not necessarily figures which a property will sell for and may change at any time prior to the auction
- Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide
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Description
The property, known as The Old Maltings, is a collection of self-contained apartments and townhouses located in the heart of Reepham. It comprises 11 units, including 2-bed flats and 1-bed flats, with each unit containing a parking space. The development has been meticulously maintained and features double glazing, with some properties served by a communal heating system and others having individual heating installations.
The property generates a gross annual rental income of over £80,000, with several units letting to established tenants and others available for potential rental income. The development also includes storage rooms and workshop accommodation that could be converted into additional residential dwellings subject to planning consents.