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See how verdicts work2-bedroom flat · NR1 2NT
Listing removedReduced £10k (−7.1%) on 10 SepListed 73 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Packed with potential and set on a generous plot, this two-bedroom maisonette is a fantastic opportunity for buyers looking to put their own stamp on a home.
Situated on a quiet residential road, the property offers approximately 650 sq. Ft. Of accommodation and would benefit from some modernisation.
The layout includes a bright lounge, separate kitchen, two bedrooms and a bathroom.
Outside, there is a substantial front garden, with the vendor advising that parking is available to the frontage, subject to buyers satisfying themselves as to the arrangement.
Further benefits include newly fitted windows and a useful detached brick shed. An ideal first purchase for those seeking a home with scope for improvement and excellent outside space.
The Location Positioned in Old Lakenham, this location benefits from a setting that combines residential tranquillity with excellent access to everyday amenities.
The nearby Harford Bridge and Hall Road retail area offers a wide range of shopping and essential services.
There is a large Tesco Superstore within easy reach, as well as an Asda just a short drive away, providing residents with excellent supermarket choice.
The ikea store at Hall Road Retail Park adds further convenience for furniture, homeware and household essentials, alongside several other well-known retailers.
Leisure and entertainment options are also plentiful. The Riverside complex is nearby, offering restaurants, shops, a cinema, gyms and a variety of entertainment facilities.
Norwich Train Station is located within the same area, providing convenient rail connections for commuters and those travelling further afield.
Norwich city centre is also easily accessible, offering an array of independent shops, restaurants, bars, cultural attractions and historic landmarks.
The area is well connected, with the A47 close by, providing straightforward access across Norfolk and linking to the wider road network.
Its position on the south side of Norwich also makes travelling in and out of the city particularly convenient.
Overall, the area offers a strong sense of community alongside excellent amenities, convenient shopping, strong transport links and easy access to both Norwich city centre and a wide range of leisure facilities, all while maintaining the quieter residential character for which Old Lakenham is known.
Theobald Road, Norwich Situated on a quiet residential road, this two-bedroom maisonette offers an excellent opportunity for first-time buyers, investors or anyone looking for a property they can update and personalise over time.
Requiring a degree of modernisation in places, the property presents fantastic potential to add value while creating a home tailored to individual tastes and requirements.
The accommodation extends to approximately 650 sq. Ft. And is arranged around a central hallway which provides access to all principal rooms.
The lounge offers a comfortable living space with plenty of natural light, creating a welcoming environment for everyday relaxation.
The kitchen is positioned separately and provides practical workspace and storage, with scope for future improvement and refurbishment if desired.
There are two bedrooms, both offering comfortable accommodation, with one providing particularly generous proportions and the other lending itself well to use as a guest room, home office or dressing room.
A bathroom completes the internal accommodation.
While some areas feel cosy in nature, the overall layout is practical and functional, making it easy for a buyer to move in and improve the property gradually over time.
One of the standout features of the home is the outside space.
The property occupies a notably generous plot for this style of home, benefiting from a front garden that provides an attractive outdoor area with potential for further landscaping.
The vendor has advised that parking is available to the front garden; however, prospective purchasers should satisfy themselves regarding the parking arrangements and any necessary permissions.
Further benefits include replacement windows, helping to enhance comfort and efficiency, together with a useful detached brick shed providing valuable storage space for bicycles, garden equipment or household items.
Agent’s Note This property will be sold with a leasehold tenure and approximately 120 years remaining on the lease. Ground rent is £200 per annum.
The vendor has advised that there is currently no separate maintenance charge. The property is connected to mains water, electricity, gas and drainage.
Disclaimer Minors and Brady (M&B) along with their representatives, are not authorised to provide assurances about the property, whether on their own behalf or on behalf of their client.
We don’t take responsibility for any statements made in these particulars, which don’t constitute part of any offer or contract.
To comply with aml regulations, £52 is charged to each buyer which covers the cost of the digital id check.
It’s recommended to verify leasehold charges provided by the seller through legal representation.
All mentioned areas, measurements, and distances are approximate, and the information, including text, photographs, and plans, serves as guidance and may not cover all aspects comprehensively.
It shouldn’t be assumed that the property has all necessary planning, building regulations, or other consents.
Services, equipment, and facilities haven’t been tested by M&B, and prospective purchasers are advised to verify the information to their satisfaction through inspection or other means.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
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.
Area
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FAQ
About 62 Theobald Road, Norwich
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