Summary - 16 MARKET PLACE NORTH WALSHAM NR28 9BP
1 bed 1 bath Commercial Property
Prominent town-centre retail with stable income and refurbishment upside.
Grade II listed prominent town-centre freehold with large dual-aspect shopfront
Ground-floor retail 1,015 sq ft currently generating £18,000 pa
Long-standing tenant ~30 years; lease rolling but willing to renew
Additional ground rent and management fees provide £240 + £200 pa
Requires renovation; refurbishment needed to maximise rental value
Listed status will restrict alterations and may complicate works
Above-average local crime rate; small plot size limits expansion
11.54% yield shown at a £160,000 valuation (offers in excess of £150,000)
This Grade II listed freehold on Market Place, North Walsham, offers a prominent town-centre commercial investment with immediate income. The ground-floor shop (approx. 1,015 sq ft) benefits from large dual-aspect windows, high visibility and steady footfall; the current long-standing occupier has been in place for around 30 years and produces £18,000pa. Upper floors have been sold as long leasehold flats, providing a further modest income stream from ground rent and management fees.
The property is being marketed with offers in excess of £150,000; a quoted yield of 11.54% is shown when using a £160,000 valuation. The tenant’s lease is currently rolling, but they have indicated willingness to sign a new lease on similar terms, giving flexibility to a new owner to formalise terms or renegotiate to suit investment strategy. The building requires refurbishment, so there is clear scope to modernise the retail unit and potentially enhance rental value.
Buyers should note material considerations: listed status will restrict alterations and may complicate refurbishment; the property is recorded as needing renovation; the local area records above-average crime; and the plot is small. Service charge and ground rent are low, adding small supplementary income but also reflecting limited communal services. This asset suits an investor seeking an established income with short-term uplift from refurbishment or a hands-on owner willing to manage listed-building constraints.
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