1-bedroom flat · NR1 1BP
For saleReduced £5k (−5.6%) on 4 OctListed 229 days
Opportunity summary
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About
**offered with no onward chain** Gilson Bailey are thrilled to present this charming one bedroom, second floor retirement apartment (exclusively for the over 55s), perfectly positioned just a short stroll from Norwich Train Station, the iconic Norwich Cathedral and the vibrant heart of Norwich city centre.
Offering a wonderful blend of independence and community, this beautifully maintained home features secure intercom entry, a welcoming entrance hall, a light and airy lounge/diner, fitted kitchen, generous double bedroom and modern shower room.
Residents enjoy immaculately kept communal gardens with delightful views towards the river, secure gated parking, a residents’ lounge, laundry facilities, guest suite, 24-hour care line and an on-site manager for complete peace of mind.
A rare opportunity to enjoy comfort, convenience and lifestyle in one of Norwich’s most sought-after retirement developments.
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 Entrance Hall Secure intercom entry with stairs and lift to second floor. Front door to: Lounge/Diner (5.34 x 3.39 (17'6" x 11'1")) Double glazed window, storage heater.
Kitchen (2.74 x 1.74 (8'11" x 5'8")) Fitted wall and base units with worktops over, sink and drainer, fitted hob and oven, space for fridge and washing machine, double glazed window.
Bedroom (4.70 x 3.34 (15'5" x 10'11")) Double glazed window, storage heater, built in wardrobes. Shower Room (2.06 x 1.69 (6'9" x 5'6")) Shower cubicle, low level WC, hand wash basin, extractor fan.
Outside Well maintained communal gardens and a gated residents car park. Local Authority Norwich City Council, Tax Band B. Tenure Leasehold - Term 125 years from 1 November 1997.
Please note ground rent is £553.20 per annum and service/maintenance charges are £3012.05 per annum. For further information, please contact the office.
Utilities Ultrafast full fibre broadband available. Mains water and electric.
Value & comps
No previous sales on record.
Returns
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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.
Area
Agent & docs
FAQ
About 47, 4, Riverway Court, Recorder Road, Norwich
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