Tiny plot with plenty of potential
A tiny piece of land covering just 30 sq metres is being offered for sale with a guide price of �20,000.
A tiny piece of land covering just 30 sq metres is being offered for sale with a guide price of �20,000.
It may seem an awful lot of money for such a small plot, but it has great potential according to Diss estate agents TW Gaze who say it has attracted keen interest from prospective purchasers.
The site in question is adjacent to the former Woolworth's Store in Mere Street - at the centre of the town's main shopping precinct - and is large enough to accommodate a mobile stall.
Oliver Chapman, of Gaze's, said: 'The value of �20,000 represents the trading potential of the site as opposed to the rate per square foot. If we valued it relative to land sales it would be about �100. It is tiny - 30sq m of prime real estate - and we have actually been surprised at the interest we have had.
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'If you said that someone would be looking to pay �30 a day (to rent the site) on Friday and Saturday that's �40 a week which equates to �2,000 a year. It gives you a 10 per cent return on your �20,000 investment which, in this day and age, a lot of people would take.'
The plot is at the entrance to the King's Head Car Park (pictured) and has no services available. For many years it was used to stand a mobile fish stall, and more recently has been used for the sale of fruit and vegetables.
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Mr Chapman added that it was very unusual for freehold sites covering a small area of land to come on the market, the majority being offered as leasehold. And they have already had an offer to buy.
