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See how verdicts work2-bedroom flat · NR1 1GZ
No longer listedReduced £5k (−2.6%) on 22 SepListed 194 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Gilson Bailey are pleased to present this well-presented two-bedroom, second-floor executive apartment, located within an impressive modern riverside development.
The property is ideally situated close to a range of local amenities, including shops, supermarkets, gyms, a cinema, and the train station.
The accommodation features a secure communal entrance with lift access to all floors, leading to a private entrance hall.
Inside, there is a spacious living room with doors opening onto a private balcony, a fitted kitchen complete with appliances, two generously sized double bedrooms, and a bathroom with a shower over the bath.
Additional benefits include access to communal gardens, double glazing throughout, and electric heating.
The property would make a fantastic first time purchase so be quick to book a viewing to appreciate the quality and location on offer.
Location The Cathedral city of Norwich is set in the heart of East Anglia and has everything you would desire in a vibrant regional capital, including wonderful shopping facilities with two shopping malls including Chantry Place, and a wide range of independent boutique shops in the Norwich lanes.
There is a wide array of restaurants, bars, coffee shops, a dynamic nightlife which caters for all age groups, and the Theatre Royal is one of the country’s oldest established theatres.
The city is the most complete medieval city in the United Kingdom, including cobbled streets such as Elm Hill, Timber Hill and Tombland, with ancient buildings including St Andrews Hall, two Cathedrals and Norwich Castle.
The River Wensum flows throughout the city with various pubs located along the river and with boat hire available.
There are excellent transport links with Norwich train station providing a regular mainline service into London Liverpool Street, Cambridge and towards the coast.
Norwich International Airport is also situated only 4 miles from the city centre. The city has two Universities including the University of East Anglia and Norwich University of The Arts.
There are fantastic schools and colleges around the city and suburbs.
Norfolk itself is arguably most famous for its man-made broads, a national park with over 125 miles of waterways set in beautiful countryside surrounded with charming and picturesque towns and villages with Wroxham, the capital of the broads, approximately 8 miles from the centre of Norwich.
Accommodation Comprises Door to Entrance Hall Private entrance hall accessed via secure communal lobby with lift access.
Quality laminate floor, built in storage cupboards, radiator, entry phone, doors to all rooms.
Open Plan Kitchen/Living Room (7.54 x 3.27 (24'8" x 10'8")) Modern kitchen with ample storage and work surface.
Integrated appliances include electric hob, oven, cooker hood, dishwasher and fridge/freezer. Inset spot lighting, laminate floor, UPVC window to side and glazed doors to private balcony.
Bedroom One (4.52 x 2.72 (14'9" x 8'11")) UPVC window and radiator. Bedroom Two (4.52 x 2.16 (14'9" x 7'1")) UPVC window and radiator.
Bathroom Modern suite in white panelled bath with thermostatic rainfall shower head, WC and wash basin. Chrome heated towel rail, inset spotlights, radiator.
Outside Communal riverside garden and secure cycle storage. Parking One secure covered parking space is available. Utilities Utrafast Brodband available. Mains water and electric.
Local Authority Norwich City Council - Tax Band C Tenure Leasehold Term: 150 years from and including 29 September 2022 Service Charge: £220pcm
Value & comps
No previous sales on record.
Returns
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We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 502 Ardea, Geoffrey Watling Way, Norwich
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