Success stories: recent standout results for Merrifields

At Merrifields, we pride ourselves on delivering exceptional results for our clients and our recent property sales are a testament to this commitment. Whether it's securing quick sales, achieving significant savings or facilitating complex deals, our team's expertise and dedication consistently lead to standout outcomes. We have highlighted a series of recent successes that showcase our ability to navigate the details of the property market. Each of these stories shows our strategic approach and the solutions we provide for our clients. Read on to discover how we’ve made a significant impact in these recent property transactions.

11 Norwich Street

Merrifields have facilitated the sale of 11 Norwich Street in Fakenham, a high street shop with first and second floor office accommodation above for a longstanding management client.

Following the retail tenant vacating and after completing a full asset review, we advised the client to consider a freehold disposal. We also advised that they to apply for Permitted Development Rights to allow the use of the first and second floor office accommodation to residential use. Consent was obtained from the Local Authority, so the property was marketed as a shop with the potential to convert the upper parts to residential, with a view to appealing to owner occupiers.

After marketing, an offer was accepted and despite bank funding issues, the sale completed to an owner occupier.

Glasswells Ltd Rating Assessments

Glasswells Ltd, East Anglia's largest independent home store, asked our rating expert Paul Robbins to review the rating assessments placed on its large Haverhill store by the Valuation Office.

Under the 2017 Rating List, the rateable value (RV) was £131,000. After detailed research Paul submitted the required formal Challenge against this figure. Following negotiations with the Valuation Officer he was able to reduce the RV to £110,000. With the uniform business rate payable at around 50p in the pound, this 16% RV reduction represented a significant saving to our client in terms of rates payable.

When the 2023 Rating List placed a new RV of £95,500 on this shop, Paul was again engaged to try and achieve another reduction... And he did! The revised RV is now £86,000! Well done to Paul for your excellent work on this project.

Breckland Retail Park

Final unit at Breckland Retail Park successfully let! Discover the work we have done at this site over the years for this prime location by clicking this link to learn more about this achievement.

98 Risbygate Street

Merrifields are pleased to announce the freehold sale of 98 Risbygate Street in Bury St Edmunds.

The property has been acquired by Burlinson Inns Ltd who we understand will be re-opening the premises as a public house under the property’s former name ‘The Rising Sun’.

We look forward to visiting for a pint or two in future. Well done to our joint agent Gareth Hatton of Everard Cole for brokering the deal and Greene & Greene Solicitors for pushing the sale through so quickly.

5 Highland Close

We are pleased to report the freehold disposal of 5 Highland Close, a modern 3,749 sq ft business unit, on behalf of a private client.

The property went under offer after 24 hours of going live to the market and the sale was completed within just 2 months.

This was a great result for our client and the speed of the whole process showcases the quality demand for freeholds in the area!