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For Sale

Thorpe Road, Norwich, NR1 1RY , £840,000

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Under Offer

Thorpe Road, Norwich, NR1 1RY

Freehold

Asking Price £840,000

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Sold STC
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Property specification

  • 10 Bedrooms
  • 9 Bathrooms
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Fully let student accommodation investment in a highly prominent central location in Norwich set within walking distance to the city centre and on both of the main university bus route services.

Key features

  • Fully let student accommodation investment
  • Prominent central location in Norwich
  • Tenure Freehold
  • Net internal area of c. 175.91 sq m (1,895 sq ft)
  • 2 Parking spaces and 10 bike storage spaces
  • Projected net operating income of £87,782 for the 2022/23 academic year

14 Thorpe Road consists of 10 student rooms (9 ensuite) with substantial ground floor communal area, professional kitchen, 2 car parking spaces and 10 bike storage spaces.

This attractive period terraced property is set over four floors; basement, ground, first and second. The ground floor has a communal living space with sofas, dining area and separate kitchen.

Net internal area of c. 175.91 sq m (1,895 sq ft).

Tenure is Freehold.

Based on the projected income for 2022/23 this reflects a net initial yield of 6.50% and assumes purchaser's costs of 6.80%. This reflects a capital value of £84,000 per bed. Please contact us for a full breakdown of the projected accounts.

Homes for Students have analysed the property and has provided a projected net operating income of £87,782 for the 2022/23 academic year University of East Anglia (UEA) is ranked 21st and Norwich University of Arts is ranked 77th in The Times Good University Guide 2021.

EPC rating - C

Location

Thorpe Road is situated to the immediate east of the city centre and opposite Norwich rail station. 14 Thorpe Road is a short walk to the city centre and Norwich University of the Arts. The Blue Line number 25 and number 26 are the main subsidised student bus routes offering a direct service to the University of East Anglia campus with a bus stop opposite 14 Thorpe Road. Buses are every 5 minutes Monday to Saturday and every 15 minutes in the evenings.

Thorpe Road has a mix of residential, commercial and leisure properties with plenty of cafes and restaurants making it a lively and attractive neighbourhood. It is situated opposite Norwich rail station and the city centre is within a five minute walk from the property. There are a range of cafes and take away restaurants within close proximity.

Norwich University of the Arts is 2 minutes via bicycle, 5 minutes via walk.

University of East Anglia is 20 minute bus journey, 15 minute via bicycle .

Please contact Bidwells today for further information or to arrange a viewing.

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Location

Location

Train Stations
  • Norwich 0.54km
  • Brundall 6.97km
  • Salhouse 7.56km
  • Brundall 8.42km
Schools - School Checker

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£2,876 per month

These figures are only intended as a guide. Please make sure you obtain accurate figures from your lender before committing to any mortgage. 

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