Block of flats for sale

The Old Maltings, School Road, Reepham, Norfolk NR10

For sale by auction on Wednesday, 29 Jul 2026 at 10:00

Venue: Livestream Auction

A rare opportunity to acquire an award-winning residential investment in the heart of Reepham

Occupying an enviable position just a few steps from the historic Market Place in the highly sought-after town of Reepham, The Old Maltings represents an exceptional opportunity to acquire a substantial residential investment of considerable quality and long-term potential.

This impressive development comprises a collection of self-contained apartments and town houses, all currently let to established tenants, generating a gross annual rental income in excess of £80,000 per annum. The development has been meticulously maintained by the current owners, resulting in an attractive and well-presented investment requiring minimal immediate expenditure.

Originally recognised for its outstanding design, The Old Maltings was the recipient of a prestigious design award in 1991, reflecting the quality of its conversion and sympathetic integration within the historic surroundings of Reepham. The accommodation offers a blend of character and practicality, with all units benefiting from double glazing. A number of the properties are served by an efficient communal heating system, while the remainder enjoy the convenience of individual heating installations.

Beyond the strong existing income, the property offers significant opportunities for future asset management. There is clear potential to enhance rental income over time as tenancies change and are reviewed, whilst investors may also identify the prospect of increasing overall capital value through the eventual sale of individual apartments and houses, subject to any necessary legal arrangements.

In addition, the development includes substantial storage rooms and workshop accommodation which may offer scope for conversion into one or possibly two additional residential dwellings, subject to obtaining all necessary planning consents. This provides an exciting opportunity to further enhance both the income and capital value of this already impressive investment.

Investment opportunities of this calibre are seldom available, combining immediate income, excellent occupancy, outstanding presentation, proven tenant demand, asset management opportunities and future development potential,

Accommodation
Flat 1 - 2 Bed Currently Let £570

Flat 2 - 2 Bed Currently Let £575

Flat 3 - 2 Bed Currently Let £575

Flat 4 - 2 Bed Currently Let £505

Flat 5 - 2 Bed Currently Let £500

Flat 6 - 1 Bed Vacant Potential Rent £700 pcm

Flat 7 - 2 Bed Vacant - Potential Rent £850 pcm

Flat 8- 2 Bed Currently Let £815

Flat 9 - 1 Bed Currently Let £445

Flat 10 - 1 Bed Currently Let £ 470

Flat 11 - 2 Bed Currently Let £595

Offices and Workshops Vacant

Total income currently £79,200 pa

All units have parking spaces.

Energy Performance Certificate (EPC) and Council Tax Band (ctb)
Flat 1 - EPC D & ctb A

Flat 2 - EPC D & ctb A

Flat 3 - EPC C & ctb A

Flat 4 - EPC C & ctb A

Flat 5 - EPC D & ctb B

Flat 6 - EPC C & ctb A

Flat 7 - EPC C & ctb B

Flat 8 - EPC C & ctb B

Flat 9 - EPC C & ctb A

Flat 10 - EPC C & ctb A

Flat 11 - EPC D & ctb A

Viewings
Viewings are available by appointment only on the following dates:

Tuesday 7th July

Thursday 16th July

To arrange the time of your viewing, please contact the Norwich office.

EPC Rating: 7 x C, 4 x D

Additional Fees
Buyers Premium: £1200 inc VAT payable on exchange of contracts.

Administration Charge - £1200 inc VAT payable on exchange of contracts.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

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

Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.