Summary - Red Cross Building, Guildhall Street, Thetford, Norfolk, IP24 2DT IP24 2DT
1 bed 1 bath Office
Two-storey, income-producing commercial building with immediate cashflow and refurbishment upside.
Income-producing: £46,750 per annum from three tenants
A rare town-centre investment opportunity in Thetford producing £46,750 pa from three professional tenants, giving a quoted net initial yield of 8.8% (assuming purchaser costs of 6.8%). The building provides 5,122 sq ft of well-presented office and retail accommodation over two floors, with the whole first floor occupied by an established regional law firm and two refurbished ground-floor commercial units currently trading.
Recent improvement works include re-decoration, LED lighting, new WC facilities and internal refurbishments to the ground-floor units; two EPC certificates are on file (B 44 and C 53). There are four off-street spaces and prominent Guildhall Street frontage, supporting continued demand for town-centre retail and professional office uses.
Important considerations for a buyer: tenure is recorded as unknown and will require verification. The property sits in an area classified as deprived with a recorded very high local crime level — factors that can affect rental growth and occupational risk. Records also give mixed construction data (mid-20th century appearance versus an older construction note); a buyer should confirm legal and construction history and planned maintenance for the flat roof and solid-brick fabric (no insulation assumed).
This is a practical, income-producing asset for an investor seeking immediate cashflow with short- to medium-term value-add potential through active management, lease review or selective capital works. Conversion or alternative use is possible subject to planning, but prospective purchasers should allow budget for verification work and any thermal improvement or roof refurbishment works.
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