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See how verdicts work3-bedroom detached house · NR23 1QB
For saleReduced £40k (−8.2%) on 22 AugListed 893 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Greengates is a detached 3 bedroom, 3 reception room property situated on the edge of Wells-next-the-Sea with the rare benefit of elevated views across the rooftops of the town and out to the sea in the distance.
Few period properties in the town are lucky enough to combine spacious accommodation, attractive west facing gardens with garaging and driveway parking with plenty of room for boat and caravan storage etc and, of course, the views.
There is spacious accommodation to the ground floor comprising a dining hall, kitchen, sitting room and snug with a side hallway leading to a utility room, bathroom and shower.
Upstairs, bedroom 1 has an en suite shower room and fine views towards the sea, bedroom 2 has a its own cloakroom and there is also a third double bedroom.
The west facing gardens are a particular feature of Greengates having been landscaped and well maintained by the current owners with driveway parking for up to 4 cars, a garage and boat store.
Wells-next-the-Sea has been a fishing and commercial port for nearly 600 years which still supports a thriving fishing fleet bringing in crabs, lobsters, mussels and whelks sold locally on the quayside and in nearby restaurants.
With a growing number of leisure craft moorings, a lively, sociable sailing club, harbour and sea fishing trips, the town caters for every type of water activity including “gillying” -crabbing on the quayside.
Situated a mile from the Quay, the stunning extensive sandy beach is ranked as one of the top 10 in the country by Telegraph Travel.
Against a backdrop of Corsican pinewoods, the beach is home to the much publicised, iconic colourful beach huts, available to buy or rent daily.
From the top of town down to the Quay, Staithe Street provides visitors and locals with a wide variety of shops, cafes, galleries and food stores.
For entertainment, the newly opened Wells Maltings offers live entertainment and exhibitions, whilst alongside the Quay, are all the usual popular traditional seaside attractions.
After 3 years of restoration, the Quay also sees the welcome return of The Albatros (a former Dutch cargo ship) which is permanently moored and will reopen soon offering its own unique forms of hospitability.
Locals agree with The Times in March 2021 who voted Wells as one of the best places to live.
Alongside coastal scenery, wildlife and water sports, the town has a primary and secondary school – both rated Good by Ofsted - as well as a library, doctor’s surgery and hospital providing a range of accessible and integrated health and well being services.
Mains water, mains drainage and mains electricity. Gas-fired central heating to radiators. EPC Rating Band D. North Norfolk District Council, Holt Road, Cromer, Norfolk, NR27 9EN. Council Tax Band C.
Dining Hall 3.83m x 3.36m (12' 7" x 11' 0") A glazed UPVC door with a glazed panel to the side leads from the property's garden into the dining hall with a radiator and exposed ceiling beams.
Window to the rear with obscured glass, door opening onto a staircase to the first floor landing, door to the kitchen and an opening to: Snug 4.28m x 3.41m (14' 1" x 11' 2") Fireplace, radiator, exposed ceiling beams, west facing window overlooking the garden and a wide archway leading into: Sitting Room 4.63m x 3.41m (15' 2" x 11' 2") A double aspect sitting room with a window to the north and glazed sliding patio doors leading outside to the garden.
Radiator. Kitchen 3.41m x 2.74m (11' 2" x 9' 0") A range of pale green base and wall units with laminate worktops incorporating a stainless steel sink unit, tiled splashbacks.
Integrated appliances including a double oven, gas hob with an extractor hood over, spaces and plumbing for a dishwasher and fridge freezer.
2 windows to the rear with obscured glass, window and a glazed timber door to the side lobby. Side Lobby Spaces for coat hooks and shoe storage etc, Vaillant gas-fired central heating boiler.
Doors to the utility room, bathroom, shower and a glazed UPVC door giving access to the property's garden. Utility Room 2.34m x 2.20m (7' 8" x 7' 3") at widest points.
L-shaped utility room with worktops with spaces and plumbing under for a washing machine, tumble dryer, fridge and freezer. Fitted shelving and a window to the side with obscured glass.
Bathroom 2.16m x 1.78m (7' 1" x 5' 10") A white suite comprising a shaped bath with a shower mixer tap, pedestal wash basin and WC.
Radiator, tiled floor and splashbacks, extractor fan and a window to the west with obscured glass.
Shower 1.47m x 0.87m (4' 10" x 2' 10") Shower cubicle with a chrome mixer shower, tiled floor and splashbacks, electric wall heater and extractor fan.
First Floor Landing Radiator, built-in bookshelves, window to the rear with obscured glass and doors to the 3 bedrooms. Bedroom 1 4.68m x 3.41m (15' 4" x 11' 2") at widest points.
Double aspect windows to the side and rear with far reaching views towards the sea.
Radiator, built-in storage cupboards, loft hatch (where the hot water cylinder is located) and a door leading into: En Suite Shower Room 1.91m x 1.27m (6' 3" x 4' 2") at widest points.
A white suite comprising a shower cubicle, pedestal wash basin and WC. Electric wall heater and a window to the west with obscured glass.
Bedroom 2 3.58m x 2.44m (11' 9" x 8' 0") Built-in cupboards and display shelf, night storage heater, west facing window overlooking the garden and a door leading into: Cloakroom 1.48m x 1.02m (4' 10" x 3' 4") Pedestal wash basin, WC and a window to the west with obscured glass.
Bedroom 3 3.17m x 2.49m (10' 5" x 8' 2") Extensive range of built-in storage cupboards, radiator and a window to the west overlooking the garden.
Outside Greengates is approached over a driveway providing parking for up to 4 cars and leading to the garage and attached boat store.
A tall timber pedestrian gate opens onto the attractively landscaped west facing garden.
The garden comprises a neat lawn interspersed with specimen trees with concrete pathways which meander through well stocked plant and shrub beds.
Greenhouse, timber garden shed, tall fenced boundaries, outside tap and lighting.
Garage And Boat Store 6.00m x 3.00m (19' 8" x 9' 10") Concrete sectional garage with power and light, up and over door to the front, window to the side and a pedestrian door to the garden.
Attached covered boat store to the side.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Greengates, Stiffkey Road, Wells-next-the-Sea
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