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See how verdicts work1-bedroom flat · NR1 1BP
For saleReduced £10k (−9.1%) on 10 OctListed 23 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
**guide price £110,000 - £120,000 renovated throughout** Gilson Bailey are delighted to offer this beautifully renovated, one bedroom third floor over 55’s apartment, superbly positioned in the vibrant heart of Norwich City Centre and presented in excellent condition throughout.
Offering comfortable and well-proportioned accommodation, the property comprises a welcoming entrance hall, spacious lounge/diner, stunning fitted kitchen, modern shower room and a generously sized bedroom.
Outside, residents can enjoy beautifully maintained communal grounds with a choice of seating areas and pleasant views towards the river, providing a peaceful setting despite the convenient central location, along with communal parking accessed via secure electric gates.
The development also offers an excellent range of communal facilities including a residents’ lounge, laundry room and guest room, together with a 24-hour care line, on-site manager and lift access to all floors.
Further benefits include double glazing and electric heating.
Combining stylish renovated accommodation, excellent communal facilities, secure parking and a fantastic City Centre location, this impressive apartment offers comfortable and convenient over 55’s living, so be quick to book a viewing to fully appreciate the location and lifestyle 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 Secure intercom entry with stairs and lift to third floor. Front door to: Entrance Hall Doors to lounge/diner, bedroom, shower room and large cupboard.
Lounge/Diner (5.73 x 3.37 (18'9" x 11'0")) Double glazed window, electric radiator.
Kitchen (2.73 x 1.73 (8'11" x 5'8")) Fitted wall and base units worktops over, sink and drainer, fitted hob and oven, integrated fridge/freezer, double glazed window.
Bedroom (4.71 x 3.36 (15'5" x 11'0")) Double glazed window, electric radiator, built in wardrobe. Shower Room (2.09 x 1.70 (6'10" x 5'6")) Shower cubicle, low level WC, hand wash basin, extractor fan.
Outside Well maintained communal grounds and residents parking on a first come, first serve basis. Local Authority Norwich City Council, Tax Band B. Tenure Leasehold – 125 years from 1 November 1997.
Please note ground rent is £276.60 six monthly and service/maintenance charges £1647.80 six monthly. For further information, please contact the office. Utilities Fibre to the property.
Mains water and electric. Disclaimer To comply with Anti-Money Laundering (aml) regulations, successful buyers must complete the required aml checks and provide proof of funds.
A non-refundable fee of £60 including VAT is payable per purchaser, per transaction, including any individuals contributing or gifting funds towards the purchase.
Fees are payable for up to a maximum of two purchasers, for the transaction, any additional parties checks will be covered by these fees.
This fee must be paid directly to Gilson Bailey & Partners Ltd. All required checks must be completed before a memorandum of sale can be issued.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
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 62 Riverway Court, 4, Recorder Road, Norwich
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