Market Place, North Walsham

Waterloo House, 16 Market Place, North Walsham
Paul Hubbard Commercial are pleased to offer this rare opportunity to acquire a Grade II listed, freehold investment in a prominent and highly visible position in the heart of North Walsham town centre, available at Offer in Excess of £150,000.

Waterloo House comprises a spacious ground floor commercial unit with striking dual-aspect, floor-to-ceiling windows, offering exceptional visibility and an ideal space for showcasing products. Located directly on the busy Market Place, the property benefits from high footfall and passing traffic, making it a sought-after location for occupiers.

The commercial unit, which is approximately 1015sq ft, is currently let to a long-established tenant who has been in occupation for approximately 30 years.

The lease is presently rolling over, but the tenant has expressed willingness to enter into a new lease on similar terms, offering flexibility and security for the incoming owner. The unit currently generates a rental income of £18,000 per annum.

While the premises would benefit from some refurbishment, it presents a valuable opportunity to modernise and potentially enhance rental value.

The upper floors of the property have been converted into four residential flats, all of which have been sold on long leaseholds. As the freeholder, the purchaser will benefit from ground rent of £240pa, and annual management fees of £200pa, providing additional passive income and increasing the overall yield to 11.54% at a sale price of £160,000.

This is an ideal opportunity for investors seeking a secure and established commercial income stream, with scope to add value and further develop lease terms to suit long-term investment goals.

Disclaimer
Paul Hubbard Commercial for themselves and for the vendors/lessors of this property give notice that: (1) these particulars are set out as a general outline only and do not constitute any part of an offer or contract; (2) all descriptions, dimensions, references to condition, use, and other details are given in good faith but without responsibility and should not be relied upon as statements or representations of fact; (3) interested parties must satisfy themselves as to the accuracy of all information and carry out their own investigations, including planning, rates, and services; and (4) all figures quoted are exclusive of VAT unless stated otherwise. Subject to contract and availability.