A well-established large House of Multiple Occupation in a seaside town is set to go under the hammer this month.

Described as a "prime investment opportunity in Great Yarmouth" the 22-bed HMO is set for auction.

The established large HMO - which offers 22 occupied rooms and is situated in the centre of Yarmouth as it produces a gross income of £117,480 - is being marketed by Auction House East Anglia.

It is set to go under the hammer at an online auction on Wednesday, December 11 with a guide price of £750,000 to £800,000 (plus fees) on a freehold tenure.

The property description from the auctioneers – for the property called Faymar at 25-28 Paget Road, Great Yarmouth - states: "Compliant HMO established for over 30 years with lawful use provided in 2014.

"Offering 22 occupied rooms with all tenants having a licence to occupy.

"Each room has its own bathroom facilities and there are four shared kitchen facilities for tenants use."

Described as a "well-maintained property", which "offers significant rental income potential in a prime location" it is "a highly attractive investment opportunity".

The spokesman added: "With tenants paying £445 per month, the property generates an impressive net income of £85,000, making it a highly worthwhile investment.

"Additionally, the basement offers the potential for further development, with the possibility of adding more rooms and increasing rental income.

"As a freehold property, Faymar, 25-28 Paget Road, presents an attractive investment opportunity for landlords who are seeking a dependable source of income."

Ahead of this month's auction, Jenny Austen, area manager at Auction House East Anglia, said: "This expansive premises presents an enticing opportunity, whether that be as a long-term investment or a new venture that explores other potential uses for this prominent property."