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See how verdicts work2-bedroom flat · NR23 1LJ
Listing removedListed 188 days
Opportunity summary
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About
Offered for sale chain free, this spacious first floor maisonette, with private ground floor entrance, does require general modernisation and cosmetic improvement although it does already benefit from gas to radiator central heating and double glazing.
Unusually, the property also has a generous private garden, as does the ground floor maisonette, below 6a, but the boundaries are not currently defined and we await legal clarification from the sellers and on site boundary definition.
There is also a brick built storage shed.
From the ground floor entrance hall a staircase rises to the landing which affords access to a large living room, compact kitchen, two double bedrooms and bathroom.
The kitchen and bathroom probably need re-fitting but the remainder of the works required are largely cosmetic.
Outside, there are lawned gardens to the front and rear and a useful brick built storage shed.
6a Northfield Waye is being offered for sale leasehold on a new 250 year lease from completion and would make an ideal compact home close to amenities, buy to let investment or as a second home.
Wells-next-the-Sea has been a commercial and fishing port for nearly 600 years and still supports a thriving fishing fleet bringing in a catch of, predominantly, shellfish 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 extensive sandy beach is often ranked as one of the top 10 in the country by travel journals.
Set against a backdrop of Corsican pinewoods, the stunning beach is home to the much publicised, iconic colourful beach huts, which are available to buy or can be rented 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 speciality food stores.
For entertainment, the recently opened Wells Maltings offers live entertainment and exhibitions, whilst alongside the Quay, are all the usual popular traditional seaside attractions.
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 cottage 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 C. North Norfolk District Council, Holt Road, Cromer, Norfolk, NR27 9EN. Council Tax Band A.
Accommodation From the entrance hall, which has space for a washing machine of fridge/freezer a staircase rises to the bright first floor landing.
Off this is the spacious sitting room with front aspect and a large cupboard housing the gas fired boiler.
There is a compact kitchen, also front aspect and two rear aspect double bedrooms as well as a good sized bathroom.
Outside This property benefits from gardens to the front and rear, which are mainly laid to lawn and require a degree of cultivation. There is also a brick built storage shed.
Please see previous note regarding the garden boundaries.
Agents Note The vendor Flagship Housing does require offers to be accompanied by a completed Declaration of Interest form which is available from Belton Duffey.
In cases where the applicants are purchasing the property with cash funds, the vendor requires exchange and completion to take place within 28 days of an offer being accepted and reserves the right to abort the sale if this condition is not met.
Please note that a grounds maintenance charge applies (£19.45 currently) and that the property must be marketed for a minimum of 14 days before any offers are to be considered.
Please also note that all properties built before 2000 will have some degree of asbestos, a report may be available to obtain from Flagship but buyers are encouraged to conduct their own searches.
There is an engrossment fee of £150 payable by the purchaser upon completion.
Flagship have requested a Regulated Drainage & Water Search and a Regulated Local Authority Search, the cost of which the Buyer will be responsib...
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.
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FAQ
About 6a, Northfield Waye, Wells-next-the-Sea
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