Magdalen Street, Norwich, Norfolk, NR3 1LE

A one bedroom top floor flat providing an immediate investment rental income, with tenant in situ producing an attractive gross rental yield of 14.1%.

The well presented accommodation comprises lounge, kitchen, bedroom and bathroom. Outside there is a gated parking area.

The property is conveniently placed for Norwich city centre amenities, including a range of shops, cafés, restaurants and other everyday facilities. Nearby bus stops provide connections across Norwich and the surrounding area, while Norwich railway station is approximately 0.7 miles away, offering further transport links.

Auction To be sold by online auction (unconditional) on Thursday 26th November with a 6 WEEK COMPLETION, bidding will open at 10.00.

To view Viewings will be conducted prior to the auction, please visit our website to book an appointment at firstforauctions.co.uk

Registration All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.

Tenure Leasehold with tenant in situ.

Lease 125 years from 2007 - 106 years remaining.

Tenancies Let on an assured periodic tenancy from 31 March 2026 with a current rent of £825 PCM.

Ground rent and service charge Please see legal pack for further details.

EPC rating C

Council tax band A - Norwich

Legal pack For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor. The documents may not tell you everything you need to know about the property and you are required to complete your own due diligence before bidding.

Guide prices Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a lot will sell for and may change at any time prior to the auction. Each lot will be offered subject to a Reserve, (a figure below which the Auctioneer cannot sell the lot during the auction) which we expect will be set within the Guide Range, or no more than 10% above a single figure Guide Price.

Additional fees A buyers charge of £1,650 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.

Deposit If you are the highest bidder when the auction ends, contracts are exchanged between you and the seller. Both parties are legally bound to complete the transaction as per the special conditions in the legal pack. Your card will be automatically debited for the bidder security amount of £6,000 and we'll require the remaining balance for a 10% non-refundable deposit. We will contact you after the auction has finished to make these arrangements.

Pre-auction offers These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered on an auction basis in accordance with the “Terms & Conditions - Unconditional Auction".

Mortgage finance We advise all bidders who require a mortgage to confirm with their Financial Advisor as to whether or not the lot you are interested in would be suitable security to borrow finance against, prior to bidding. If you need to arrange a mortgage it is important that you obtain an offer from your lender before the day of the auction. Most building societies and banks will instruct a surveyor to prepare a valuation report before making a mortgage offer.

Please note All plans are strictly for identification purposes only and should not be relied upon. Please refer to the legal pack for the Land Registry plan of each lot. Any plans are reproduced from Ordnance Survey maps with kind permission of the Controller of His Majesty's Stationery Office @ Crown copyright. All rights reserved, Licence no: .