2-bedroom flat · NR1 1QY
For saleReduced £10k (−6.7%) on 30 JulListed 179 days
Opportunity summary
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About
**offered with no onward chain** Gilson Bailey are delighted to offer this two-bedroom second floor flat, ideally located in the heart of Norwich City Centre, offering convenient access to a wealth of local amenities, shops, and transport links.
The accommodation comprises secure intercom entry, a private entrance hall, a bright and spacious lounge/diner with access to a balcony, a well-equipped kitchen, two comfortable bedrooms, and a modern shower room.
Outside, residents can enjoy well-maintained communal gardens along with permit parking.
The property further benefits from double glazing, gas central heating, and is offered with no onward chain, ensuring a smooth and straightforward purchase.
Perfectly suited to first-time buyers or investors alike, this fantastic city home presents an excellent opportunity-early viewing is highly recommended.
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 to second floor. Front door to: Entrance Hall Doors to lounge/diner, two bedrooms and shower room.
Lounge/Diner (5.50 x 3.32 (18'0" x 10'10")) Double glazed windows, door to balcony.
Kitchen (3.33 x 2.33 (10'11" x 7'7")) 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 One (4.41 x 3.10 (14'5" x 10'2")) Double glazed window. Bedroom Two (3.18 x 2.54 (10'5" x 8'3")) Double glazed window.
Shower Room (3.14 x 1.66 (10'3" x 5'5")) Shower cubicle, low level WC, hand wash basin, frosted double glazed window. Outside Communal gardens, permit parking and storage shed.
Local Authority Norwich City Council, Tax Band A. Tenure Leasehold Lease - 125 Years from 11th November 1985. Ground Rent - £10 per annum Service Charge £421 per annum Utilities Fibre to the property.
Mains gas, 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
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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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FAQ
About 32, Paradise Place, Norwich
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