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4 bedroom flat for sale
17 Timberhill, together with Flats 1 & 2 Palmers Yard, Timberhill, Norwich, Norfolk, NR1 3JZ
£395,000
17 Timberhill, together with Flats 1 & 2 Palmers Yard, Timberhill, Norwich, Norfolk, NR1 3JZ
£395,000
Our Summary
- Guide Price= £395,000 - £425,000 plus fees **For Sale By Unconditional Online Auction - Auction Ends 19/03/2025 11:00** City centre commercial and residential investment opportunity
- Details relating to this investment and the terms of the lease will be available within the auction legal pack
- Currently let under the terms of an assured shorthold tenancy at a rent of £750 per calendar month - details will be found within the auction legal pack
- Currently let under the terms of an assured shorthold tenancy at a rent of £860 per calendar month - details will be found within the auction legal pack
Description
This is a unique investment opportunity in Norwich's city centre, comprising a three-storey mid-terraced building with a pizzeria on the ground floor and two self-contained flats above. The pizzeria, known as No. 17 Timberhill, is let for 9 years at £16,000 per annum and has a combined floor area of 724 sq.ft. The two flats, located above the pizzeria, are approached from a rear courtyard and are currently let under assured shorthold tenancies for £750 and £860 per month respectively. The property offers a mix of commercial and residential space, providing a diverse income stream for the buyer.