Market Place, Bungay
East of England
£750,000
Listed on 27/10/2026
Listed on 27/10/2026
The listing
Property details
Bedrooms
5Type
HouseArea
7000 sqftDescription
This Grade II listed former department store occupies a prominent position in Bungay's market place and provides more than 7,000 sq. ft. of accommodation arranged over three levels. The building includes a first-floor ballroom overlooking the square, alongside a range of large former retail spaces and period details. The property is offered with no onward chain and requires sympathetic renovation. Residential, commercial or mixed-use redevelopment may be considered, subject to the necessary consents and planning permissions. The building was home to H. Wightman & Son, a family furnishings business established in 1861 and closed in 2024. Bungay's shops and services are close by, with road connections to Norwich, Lowestoft and surrounding towns. Contact Pymm & Co for further information.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
74out of 100
Grade BGood opportunity
Confidence: MEDIUM
At £750,000, this Grade II listed landmark is offered at about £107 per sq ft, well below the local average of £293 per sq ft—a strong acquisition-price advantage for a buyer prepared to take on a substantial project. Its prominent market-place frontage, more than 7,000 sq ft of space and characterful former ballroom create scope to shape a distinctive residential, commercial or mixed-use scheme, subject to the necessary consents. The renovation assessment is further provisional because photo coverage is limited.
This is a heavy, complex undertaking rather than a cosmetic refresh: the interiors are vacant and worn, and visible water staining and damaged plaster need investigation. The period features and intact-looking frontage give the project real character, but the building’s concealed condition is not established by the images.
Limited photo coverage means the renovation estimate is further provisional.
Key opportunities
- Reimagine more than 7,000 sq ft across three levels for residential, commercial or mixed use, subject to the relevant consents.
- Restore and make a feature of the first-floor ballroom’s cornicing, columns and fireplace as the centrepiece of a distinctive scheme.
- Build on the prominent market-place frontage and large glazed former shopfront to create a strong presence in the town centre.
Key risks
- Vacant, worn interiors and damaged plaster point to a heavy, multi-level programme: plan for a full interior rebuild and careful making-good, not a cosmetic refresh.
- Investigate the visible water staining and establish the concealed condition; the roof is not sufficiently visible in the photographs to assess.
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Transport
Nearest stations
Beccles Rail Station
5.6 miles
Train · Beccles
Brampton (Suffolk) Rail Station
6.1 miles
Train · Brampton
Halesworth Rail Station
8.1 miles
Train · Halesworth
Cantley Rail Station
9.1 miles
Train · Cantley
Contains public sector information from NaPTAN (DfT) licensed under the Open Government Licence v3.0.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£2,833
Based on a loan of £562,500 over 30 years at 4.45% interest
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