Curlew Apartment, 12 Tunns Yard, Wells-Next-the-Sea, Norfolk

Offer Accepted - Guide Price £250,000

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Property Description

The Property

Curlew Apartment is a completely self-contained ground floor apartment.  It forms half of a purpose built, detached building, housing two apartments in total.  Both one bed apartments are currently under the same ownership and available to purchase together if required.  Avocet Apartment, 11 Tunns Yard is situated on the first floor.  

Curlew offers around 50 square metres (538 square feet) of flexible living space; comprising a good sized living - dining room, currently with sofa bed to accommodate up to two extra guests, a well equipped kitchen, bathroom encompassing a bath with shower over and a good sized double bedroom. 

The apartment has been recently refurbished and has a wood laminate floor in the main living area and bedroom and tiled entrance hall, newly fitted kitchen and bathroom with mains pressure shower over the bath.

Outside

Both apartments have individual front doors and share the benefit of a small private communal outside space to the rear of the building, approached via a gate, currently gravelled with shrubs planted, where it is possible to sit out in the sunshine and enjoy a coffee or glass of wine and read.  

Curlew also benefits from a generously sized external storage cupboard, located next to the front door.  It is lockable and ideal storage for housekeeping items or beach equipment.

Each apartment has an allocated, private parking space, just up the lane from the building itself.

Holiday Let Opportunity

Income 2018 - 2019: £16,550.83    

Occupancy 2018 - 2019 : 25 weeks

Capacity : Sleeps up to 4

Curlew Apartment is an extremely successful holiday let, with over ten years letting history behind it and many repeat guests.  With the great combination of a ground floor position, just two minutes walk from the quay in Wells, allocated parking and a small outside space (shared with Avocet Apartment); it is a super investment opportunity. 

Currently marketed by Norfolk Hideaways, who have their Head Office in Wells-next-the-Sea; the apartment has housekeeping team in place who manage all the changeovers.   The apartment is available as a turnkey, which means that there would be no need to change marketing photographs on change of ownership and no disruption to ongoing bookings on change of ownership. 

In the longer term, there is scope to re-invest some of the income bank in to the apartment, which would result in an increase in rental prices, ocuupancy and therefore income.  Together, over the last five years, Avocet & Curlew Apartments have achieved an average of £30,471.92 per annum (gross rental income) with an occupancy of an average of 29.5 weeks per apartment.  

The Location

The apartments are found on Tunns Yard, which whilst being just a minutes walk from the quay in the centre of town, is still a quiet lane with very little through traffic. From your front door, you can walk in to town to the shops - there is a bakery, fishmonger, butcher and great fruit & veg shop on Staithe Street and you can also stroll out along the sea wall to the beach in about 15 to 20 minutes.

Wells-next-the-Sea is an ever increasingly popular holiday destination in North Norfolk. The sandy beach with its pretty painted beach huts and pine woods behind, is ever popular, scooping the coveted title of British Beach of the Year from The Times in 2016 and there is a great beach cafe just off the beach at the car park.

In town there is a great choice of restaurants, cafes, pubs and two famous fish & chip shops to choose from and an ever improving choice of shops and boutiques to browse. The addition of the new Maltings building, North Norfolk's landmark cultural centre, a good sized Co-op supermarket and self service petrol station have also been a great benefit to the town.

Wells-next-the-Sea is located around 10 minutes drive from Holkham Hall and 20 minutes from Brancaster, Holt or Fakenham.

Other Information

Services:

Mains electricity, water and drainage

Energy efficiency rating:

EPC rating of E. Full EPC details are available on request

Council Tax:

North Norfolk District Council. To be confirmed / Currently Business Rated

Agents Note:

Curlew Apartment has a lease with 96 years remaining in place (125 years from 1 Jan 1991).  The freehold for the building is owned by the current owner of both Avocet & Curlew Apartments.

A 50% share of the freehold is included with the purchase of each flat, when sold separately.

Location Map


Street View