2-bedroom flat · NR35 1EJ
For saleListed 75 days
Opportunity summary
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About
Bungay Central & The River - 0.1 miles Beccles - 5.8 miles Norwich - 15 miles Southwold - 16 miles Superbly situated and deceptively spacious, this two storey apartment sits just foorsteps from the River Waveney within the Bungay Maltings complex.
The property boasts generous accommodation over two floors offering two double bedrooms, bathroom, 20.ft sq sitting/dining/family room and kitchen/breakfast room.
The internal space coupled with the enviable location and river fronting communal garden truly sets this property apart. Inspection by viewing is essential.
The Maltings comprises briefly : Independant Entrance Hall Reception Hall Master Bedroom Second Double Bedroom Bathroom First Floor Open Plan Living & Dining Kitchen/Breakfast Room Maintained Communal Grounds Off Road Parking The Property From the front of the property we approach number 23 via a path which passes the manicured gardens that surround this immaculately kept complex.
Stepping through the front door we directly enter the generous entrance hall which provides the perfect spot for our coats and boots before pushing the door open to the reception hall.
This large space provides access to the two double bedrooms and bathroom whilst an open banister staircase, rises to the first floor.
A large understairs cupboard provides a storage solution and leaves the space in the hall ideal for a study area or an additional reception room.
At the rear of the hall we find the bathroom which is fitted with a three piece suite comprising our bath with shower over, a w/c and wash basin set into a large vanity unit which provides storage below.
The first of our double bedrooms is set to the rear over looking the enclosed courtyard whilst at the front of the property we find our second room looking onto the gardens and boasting a large built in wardrobe.
Climbing the stairs the space that this property offers becomes far more apparent. Our open plan living area measures just over 20ft x 20ft.
This generous room provides areas for all purposes and makes for an excellent place for entertaining and family living alike.
Light fills the room from the windows set to both the front and rear aspect and a large cupboard houses our hot water tank. From here we step into the kitchen/breakfast room.
This generous room is fitted with a range of units set below a stunning solid wood work surface. Space is made for our cooker, fridge freezer and washing machine. This completes the accommodation.
Outside The front of the property is accessed via a path from the parking area which leads to the front door of the apartment. The car park provides an off road parking space and a visitor space.
There is an area for bin storage and washing lines that sit amongst well manicured, established gardens.
A further generous garden sits just north of the complex and offers a grassed area that leads down to the riverside with stunning views across the Waveney Valley.
All outside areas are communal and fully maintained. Location The property sits on the riverside within the Bungay Maltings Buildings.
Bungay offers a good range of all the necessary amenities and shops, schools, antique shops, restaurants, The Fisher Theatre (now showing films) and leisure facilities including indoor swimming pool and golf club.
The Cathedral City of Norwich is about 30 mins drive to the North and has a mainline train link to London Liverpool Street (1hr 54mins).
Diss provides another mainline link to London and is 19 miles distant. The unspoilt heritage coastline of Suffolk with the lovely beaches of Southwold and Walberswick are a short distance away.
Fixtures and Fittings All fixtures and fittings including curtains are specifically excluded from the sale, but may be available in addition, subject to separate negotiation.
Services Mains Electricity, Water & Drainage. Electric Heating.
Energy Rating: C Local Authority East Suffolk Council Tax Band: B Postcode: NR35 1EJ What3Words: ///rally.boggles.minimums Tenure The property is Leasehold.
Vacant possession of the leasehold will be given on completion. The lease issued with 999 years in September 1987 offers 960 remaining years.
The service charge is invoiced quarterly at £400 (£1600 per annum). The building is Grade II Listed.
Agents Note The property is offered subject to and with the benefit of all rights of way, whether public or private, all way leaves, easements and other rights of way whether specifically mentioned or not.
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.
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