Shop, workshop and flats head to auction in Norwich

The property, located in Catton on the city’s ring road, is being auctioned on March 26, with a guide price of £575,000.

Pegasus Models currently occupies the retail units (Image: Auction House East Anglia) The site currently generates an annual rental income of £42,540 from its various tenants, with Auction House calling it "an attractive investment opportunity with potential for redevelopment".

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The lot includes two retail units, a garage/workshop and two tenanted flats.

A mechanic rents the garages (Image: Auction House East Anglia) The ground-floor shops are occupied by Pegasus Models, a long-running business that has been trading since 1982 and produces a rental income of £1,450 pcm.

The shop benefits from a large car park, which leads to a garage/workshop currently leased for £595 pcm to a mechanic servicing and maintaining vehicles.

An aerial view of the premises (Image: Auction House East Anglia) Above the shop, there are two one-bedroom flats, both let under Assured Shorthold Tenancies (ASTs) for £700 pcm and £800 pcm.

According to the government website, the current rateable value of the commercial premises is £18,750.

Viewings are available by prior appointment, and potential buyers are encouraged to register their interest ahead of the auction.