4 Bed Terraced House, Single Let, Norwich, NR1 3JZ, £395,000

• City centre commercial and residential investment opportunity. +

Guide Price= **£395,000 - £425,000 plus fees

For Sale By Unconditional Online Auction - Auction Ends 19/03/2025 11:00

**City centre commercial and residential investment opportunity.

Description
No. 17 Timberhill and Flats 1 & 2 Palmers Yard, Norwich form a single, three storey, mid-terraced building probably dating back from the 19th Century, with the rear part being converted into two self-contained flats.

The building is of traditional construction with a pitched main roof, with the pizzeria being approached at the front or via the rear courtyard and a side door. The two flats are approached from the rear courtyard opposite no. 3 Palmers Yard.

No. 17 Timberhill amounts to 724 sq.ft. comprising 344 sq.ft. Zone A and 67 sq.ft. Zone B, with kitchen, food preparation area, freezer room and store and currently let for 9 years at a rent of £16,000 per annum under the Landlord and Tenant 1954 Act. Details relating to this investment and the terms of the lease will be available within the auction legal pack.

No. 1 Palmers Yard is approached via a communal entrance hall with staircase to the first floor. The accommodation comprises lounge/dining area, kitchen, two bedrooms and internal bathroom. Currently let under the terms of an assured shorthold tenancy at a rent of £750 per calendar month - details will be found within the auction legal pack.

No. 2 Palmers Yard is approached via a communal entrance hall with staircase to the second floor. The accommodation comprises landing, lounge/dining area, kitchen, 2 bedrooms and internal bathroom. Currently let under the terms of an assured shorthold tenancy at a rent of £860 per calendar month - details will be found within the auction legal pack.

Solicitor: Sprake & Kingsley (Attn John Williams), 16 Broad Street, Bungay, NR35 1EN. Tel

Location
Situated off Timberhill in the centre of Norwich, being located amongst retail shops and close to the Castle Mall Shopping Complex. The property is accessed via a passageway from Timberhill.

Directions
Approached from either end of Timberhill on foot and also from Castle Mall car park directly onto Grouts Thoroughfare and Timberhill. Access to Flats 1 & 2 Palmers Yard is via a passageway to the rear of 17 Timberhill.

Notes
Buyer Fees: Please note that the successful bidder will be required to pay an Administration Charge of £1,170 inclusive of VAT. This fee is due and payable from the winning bidder immediately after the timed auction ends. The successful bidder will additionally pay over to the auctioneer a deposit of 10% of the purchase price, subject to a minimum of £5,000, after the timed auction ends. All payments to be made by debit card payment or electronic bank transfer to the Brown&Co Client Account, the details of which will be provided by the auctioneer to the successful bidder shortly after the auction ends. Other fees may be payable on completion and will be detailed within the Special Conditions of Sale to be found within the published Auction Pack.

Ability to Buy: This property is being sold under Unconditional Auction Rules creating a legally binding contract at the conclusion of the timed auction. DO NOT bid unless you can complete the sale within 28 days, or on the terms specified within the Special Conditions of Sale.

If you REQUIRE A MORTGAGE for this purchase, we strongly recommend that you receive your mortgage offer before you bid. An Agreement in Principle (AIP) is not enough due to the fact that if you are the successful bidder and wait to secure funding after the auction and if your lender will not lend on the property (for whatever reason) and you fail to complete, you will lose your deposit and any associated costs.

Help and Assistance: If you have any questions or require any clarification as to the online auction process please contact the auctioneer prior to commencement of the bidding window as we will be unable to enter into any discussions once the auction has started.

Bidding Process: Prior to bidding the bidder will complete a Passport-to-Bid process, which requires registration, verification and agreement to Buyers Terms.

How To Follow the Auction: Use 'Watch' button to follow the auction. If you register to Watch an auction you will receive email notifications of any bidding activity on the specific lot.

How It Works: Unconditional Timed Auction Online: This is a binding method of sale similar to a traditional public property auction. The only difference is the bidding takes place online. The successful purchaser will be required to pay a 10% deposit (subject to a minimum payment of £5,000) on the fall of the virtual gavel and contracts will be exchanged. Bidding for properties online works in a similar fashion to eBay. You can place bids using your PC, tablet or mobile phone and the minimum amount you can bid is defined by the 'bid increment' level. When you place a bid, the property listing page will show you if your bid was successful and whether or not you are the highest bidder. When you are the highest bidder on a property, if another bidder outbids you the system will notify you by email so that you can place another bid if you wish. The major difference from eBay is that our system eradicates sudden death 'bid sniping' through the use of auction 'extension times'. If you have any questions or require any clarification please contact the auctioneer.

Agents Notes: (1) All measurements are approximate and quoted for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied upon. (2) Any fixtures, fittings and appliances referred within these published details have not been tested and therefore no guarantee can be given that they are in working order. (3) Internal photographs are reproduced for general information and it is not inferred that any item shown within any picture is included with the property. (4) Photographs shown within these details may have been taken with a camera using a wide-angle lens. (5) These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. (6) In accordance with UK Anti Money Laundering Regulations Intending buyers will be asked to produce original Identity Documentation, Proof of Address and be subjected to an electronic ID verification check before a purchase conveyance is instructed. (7) Brown&Co comply with the General Data Protection Regulation (EU) 2016/679 (GDPR") please visit our website for our Privacy Statement, Subject Access Requests can be submitted to . (8) Brown&Co are regulated under the RICS code of conduct. (9) Brown&Co are a member of The Property Redress Scheme, Membership Number: PRS012758 (10) Brown&Co is a member of RICS Client Money Protection Scheme, RICS Firm Reference: 016189 (11) Brown&Co-Property And Business Consultants LLP trading as Brown&Co Registered Company Number OC302092. (11) Registered Office Address The Atrium, St George's Street, Norwich, Norfolk, NR3 1AB