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Listing removedListed 227 days
Opportunity summary
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About
Sought after visible and accessible location Fully let producing an income of £84,780 per annum 6 flats arranged over the ground, first and second floor Ground floor office let to Clive Lewis MP MIXED USE COMMERCIAL/RESIDENTIAL INVESTMENT The premises comprises a large Victorian former gentleman's residence which has been adapted to provide a number of individual flats over 4 storeys.
The ground floor has a rear flat roof extension and is arranged to provide offices and one flat with basement storage which is accessed through the office.
The first floor is configured to provide 3 flats off a central landing and the second floor provides a further 2 flats. At the front of the property there are parking spaces for around 6 vehicles.
To the rear of the property there is a small garden and brick built shed. The premises are not listed but are understood to be in a Conservation Area.
The property is divided into 6 flats and 1 ground floor office and is fully let providing a total income of £84,780. The flats are let on usual AST agreements.
The office is let to Clive Lewis MP for a term of 5 years, 4 months and 4 days from the 27th August 2024 on an internal repairing basis.
The tenant can end the lease early only if they cease to be an MP for Norwich South, with 2 months' written notice. The historic city of Norwich has an urban population of approx.
213,000 and is the regional and administrative centre of East Anglia in the East of England.
The city of Norwich benefits from two universities, being the University of East Anglia and the Norwich University of Art.
Norwich is situated approximately 110 miles north east of London via the recently widened/improved A11 and is approximately 60 miles from Cambridge.
The A47 provides a link to Great Yarmouth in the East and Kings Lynn (and Peterborough beyond) to the west.
The property is prominently situated on Unthank Road which is 0.8 miles from Norwich City centre.
Unthank Road forms part of the 'Golden Triangle' which is a very sought after residential location and popular with both national and independent shops. It is understood that VAT is applicable.
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 11 Unthank Road, Norwich, Norfolk
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