2 Bed Flat, Single Let, Norwich, NR1 3SN, £220,000

The Pavilion, St. Stephens Road, NR1 3SN - 3 views - 6 months ago

Sold STC
Leasehold
BTL
~68 m²
+8 photos

ValuationOvervalued

Sold Prices£46.3K - £435K
Sold Prices/m²£756/m² - £4.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.2K/m²

Value Estimate

£167,761

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£7,800

Total Cash In

£62,800

 

 

Cash Out

 

Rent Range

£695 - £1,400

Rent Estimate

£734

Running Costs/mo

£854

Cashflow/mo

£-120

Cashflow/yr

£-1,444

Gross Yield

4%

Local Sold Prices

50 sold prices from £46.3K to £435K, average is £163.5K. £756/m² to £4.3K/m², average is £2.5K/m².

PriceDateDistanceAddressBeds 
£177K07/230.08 mi27, Kenneth Mckee Plain, Norwich, Norfolk NR2 2TH2
£190K03/230.08 mi29, Wessex Street, Norwich, Norfolk NR2 2TJ2
£92.5K12/220.08 mi17, Wessex Street, Norwich, Norfolk NR2 2TJ2
£200K01/230.08 mi7, Wessex Street, Norwich, Norfolk NR2 2TJ2
£46.3K03/210.08 mi39, Wessex Street, Norwich, Norfolk NR2 2TJ2
£170K11/220.11 mi18, Wessex Street, Norwich, Norfolk NR2 2SP2
£165K10/230.16 miFlat 11, Marlborough House, Grove Road, Norwich, Norfolk NR1 3RQ2
£155K11/200.17 mi24, Norfolk Street, Norwich, Norfolk NR2 2SN2
£150K03/210.17 miThe Second Floor Flat, 4, Grove Avenue, Norwich, Norfolk NR1 2QD2
£160K12/230.21 mi15, Eagle Walk, Norwich, Norfolk NR2 2JA2
£310K06/210.25 mi47, Chapel Field East, Norwich, Norfolk NR2 1SF2
£125K03/210.3 mi151, Somerleyton Gardens, Norwich, Norfolk NR2 2BS2
£125K01/240.32 mi111, Somerleyton Gardens, Norwich, Norfolk NR2 2BP2
£199.9K12/200.33 mi8, Woburn Street, Norwich, Norfolk NR2 2RQ2
£128K09/230.34 mi24, Johnson Place, Norwich, Norfolk NR2 2SA2
£203K09/210.34 mi156, Brazen Gate, Norwich, Norfolk NR1 3SB2
£180K05/230.39 mi7, Lady Mary Road, Norwich, Norfolk NR1 2QZ2
£200K04/240.43 mi45, St Albans Road, Norwich, Norfolk NR1 2QX2
£140K10/230.44 mi36, Trafalgar Street, Norwich, Norfolk NR1 3HN2
£150K10/210.44 mi33, Brooke Place, Norwich, Norfolk NR1 3EX2
£138K01/240.45 mi91, Southwell Road, Norwich, Norfolk NR1 3HU2
£160K01/240.46 mi71, Trafalgar Street, Norwich, Norfolk NR1 3HW2
£150K07/230.47 mi17, Watlings Court, Norwich, Norfolk NR2 1HA2
£180K07/230.47 mi16, Watlings Court, Norwich, Norfolk NR2 1HA2
£162K04/230.48 mi14, Southwell Road, Norwich, Norfolk NR1 3HS2
£200K10/230.48 miFlat 18, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£205K11/230.48 miFlat 35, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£215K03/230.48 miFlat 3, Royal Arch Court, Earlham Road, Norwich, Norfolk NR2 3RU2
£140K07/210.48 mi16, Gordon Square, Norwich, Norfolk NR1 3HJ2
£132.5K07/230.48 mi9, Gordon Square, Norwich, Norfolk NR1 3HJ2
£138K09/210.48 mi23, Gordon Square, Norwich, Norfolk NR1 3HJ2
£147.5K05/210.5 mi21, Milton Close, Norwich, Norfolk NR1 3HX2
£207K01/210.5 mi91, Wellington Lane, Norwich, Norfolk NR2 1HJ2
£177K04/210.52 mi25, Patricia Road, Norwich, Norfolk NR1 2PE2
£174K11/200.52 mi19, Patricia Road, Norwich, Norfolk NR1 2PE2
£177.5K08/230.52 mi12, Patricia Road, Norwich, Norfolk NR1 2PE2
£162K01/230.53 mi3, Milton Close, Norwich, Norfolk NR1 3HX2
£181K03/210.53 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£181K03/210.53 miFlat 6, Colman House, Pottergate, Norwich, Norfolk NR2 1DY2
£143K04/210.54 mi39, Patricia Road, Norwich, Norfolk NR1 2PE2
£435K01/210.54 mi199a, Unthank Road, Norwich, Norfolk NR2 2PQ2
£156.5K08/230.55 mi76, Paragon Place, Norwich, Norfolk NR2 4BP2
£168K05/230.55 mi31, Horns Lane, Norwich, Norfolk NR1 3ER2
£152K09/210.55 mi56, Heigham Grove, Norwich, Norfolk NR2 3DH2
£180K01/210.55 mi4, Three King Lane, Norwich, Norfolk NR2 1TX2
£100K02/210.57 mi52, Park Lane, Norwich, Norfolk NR2 3EF2
£165K03/230.57 mi66, Paragon Place, Norwich, Norfolk NR2 4BP2
£185K08/230.58 miFlat 19, Morgan House, Rouen Road, Norwich, Norfolk NR1 1QQ2
£158K08/230.58 mi26, Mariners Lane, Norwich, Norfolk NR1 3AF2
£147.5K10/210.58 mi42, Mariners Lane, Norwich, Norfolk NR1 3AF2

Local Rents

50 rents from £695/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,25006/240 miThe Pavillion, NR12
£1,20003/240.02 miThe Pavillion, St Stephens Road, Norwich2
£95006/240.03 miThe Pavilion, St Stephens Road, Norwich, NR12
£1,15006/240.03 miSt Stephens Road, NORWICH2
£92506/240.03 miThe Pavilion, St. Stephens Road, Norwich, Norfolk, NR12
£1,40010/240.05 mi-2
£1,35008/240.05 miThomas Wyatt Close, Norwich2
£1,35008/240.06 miThomas Wyatt Close, NORWICH2
£1,30006/240.06 mi-2
£97507/240.06 miEdward Jodrell Plain, Norwich2
£1,19511/240.07 mi-2
£95006/240.08 miBrunswick Road, Norwich2
£99501/250.11 mi-2
£85003/240.12 miWood Street, Norwich, Norfolk, NR12
£1,25006/240.14 miNewmarket Street, Norwich, NR22
£1,10008/240.14 miNewmarket Street, Norwich, Norfolk, NR22
£97506/240.14 miKingsley Road, Norwich2
£1,20006/240.15 miNeedham Place, Norwich2
£1,20010/240.15 mi-2
£1,10007/240.16 miTrinity Street, Norwich, NR2 2BH2
£1,00006/240.16 miTrinity Street, Norwich, Norfolk, NR22
£97506/240.16 miNorwich2
£1,15012/240.17 miNeedham Place, Norwich2
£1,25012/240.17 miGrove Avenue, Norwich2
£1,25012/240.17 miGrove Avenue, Norwich, Norfolk, NR12
£1,29501/250.17 mi-2
£1,15006/240.18 miSouth City2
£1,35001/250.19 mi-2
£97512/240.19 miRegina Road, NR1 3QZ2
£1,17512/240.2 miChapelfield Gardens, Norwich, 2
£95007/240.23 miNewmarket Street, Norwich, NR22
£1,20008/240.23 miLeicester Street, Norwich, NR22
£1,20006/240.24 miLeicester Street, Norwich, NR22
£1,20009/240.24 miAllens Lane, Norwich, Norfolk, NR22
£1,10012/240.25 miChapelfield Gardens, Norwich2
£1,30001/250.28 mi-2
£1,09006/240.3 mi-2
£97507/240.3 miSomerleyton Gardens, Norwich, NR22
£69506/240.3 miCambridge Court, Cambridge Street, Norwich, NR22
£1,20006/240.3 miAlbert Terrace, Norwich, NR22
£1,20006/240.3 miAlbert Terrace, Norwich, NR22
£1,10006/240.3 miHill Street, Norwich2
£1,10006/240.31 miNewmarket Street, Norwich2
£1,15008/240.31 mi-2
£1,15009/240.31 mi-2
£1,15008/240.31 miVauxhall Street, Norwich, NR22
£1,20009/240.32 miTrinity Court, Norwich, NR22
£1,20002/240.33 mi-2
£1,20012/240.33 mi-2
£1,05003/240.34 miBrazen Gate, Norwich, Norfolk, NR12

Local Area Statistics

Population in NR1

24,540

Population in Norwich

366,887

Town centre distance

1.22 miles away

Nearest school

0.10 miles away

Nearest train station

0.91 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+39%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £220,000

October 23, 2024

Floor Plans

Description

  • Well-presented third floor leasehold apartment, part of the former Norfolk and Norwich Hospital +
  • An ideal investment or first time buy within a conservation area, offered chain free! +
  • Modern open plan living area with a contemporary fitted kitchen and integrated appliances +
  • Private balcony offering stunning views of Norwich’s historic clock tower +
  • 2 double bedrooms, with the main bedroom featuring an en-suite and a built-in wardrobe +
  • Contemporary shower room, alongside the en-suite in the main bedroom +
  • Electric heating with a Megaflow hot water system +
  • Secure fob entry system, lift to all floors and allocated underground parking space +
  • Communal gardens surround the building including a scenic nature pond +
  • Conveniently located for the city centre, amenities and transport links +

SUMMARY Set back from the road within the stunning, historic and sympathetically converted former Norfolk and Norwich hospital this 2 bedroom, third floor, leasehold apartment is offered with No Onward Chain. The heart of the home is the open plan living space with a private balcony enjoying scenic views over Norwich, whilst an allocated parking space and communal grounds complete the package, creating an exceptional opportunity for first time buyers or investors - do not miss out! 

OUTSIDE This third floor apartment is located within The Pavilion, a prestigious and highly sought-after development that once housed the former Norfolk and Norwich Hospital. Positioned on St. Stephens Road, right in the heart of Norwich city centre, the property enjoys a prime location within this beautifully converted building. For added convenience, the apartment includes an allocated parking space in the shared underground car park, ensuring hassle-free parking in a central location. Located close to Norwich's vibrant city centre, shops, cafes and historical landmarks, this apartment offers the perfect combination of modern living and convenience. 

AGENTS NOTE We have been advised by the Seller that the property is Leasehold with 108 years remaining on the Lease from 1st January 2025. A fixed maintenance charge in relation to a budget of approx. £2,402 per annum applies which includes service charges, ground rent, buildings insurance and water bill. An additional charge of £165.42 this year for works to be completed in the car park.
Please be advised that there is a Tree Preservation Order at the property (TPO 324), Norfolk and Norwich Hospital, St Stephens Road, Norwich.  

DIRECTIONS From St Stephen's roundabout, head away from the city centre via St Stephen's Road. As the road forks at the traffic lights, the property can be found on the right-hand side, as part of the former Norfolk and Norwich Hospital. The apartment is located on the third floor with stair and lift access.  

LOCAL AUTHORITY Norwich 

COUNCIL TAX BAND

We offer a professional, ARLA accredited Lettings and Management Service via our affiliated agency, Habi Lettings. If you are considering renting your property in order to purchase, are looking at buy to let or would like a free, no obligation review of your current portfolio then please contact the office to discuss this further. 

DISCLAIMER While we have made diligent efforts to ensure the accuracy of the information relating to each property at the point of listing, you are advised to consult the official local council website for details on conservation areas, flood risks, tree preservation orders, planning applications, and other relevant aspects. These details are for guidance purposes only and we do not seek advice from the seller's legal representative in their preparation. We also strongly advise that you inspect the property and surrounding area on Google Maps and Street View prior to viewing. The photographs do not infer that items shown are included in the sale, the measurements quoted are approximate and the fixtures, fittings and appliances have not been tested, therefore no guarantee can be given that they are in working order. If there is any point which is of particular importance to you then please obtain professional confirmation of it. 

Should you wish to view one of our properties, we will require certain pieces of personal information from you in order to provide a professional service to you and our client, the seller. The personal information you provide to us will be shared with the seller, but it will not be shared with any other third parties without your consent.

Should you wish to proceed and make an offer on a property, some of the personal information you provide to us will be passed to the seller. Again, it will not be shared with any other third parties without your consent.

More information on how we hold and process your data is available upon request or on our website.

Agent Details

Hammond & Stratford, Norwich

01603 361699

Next Steps?

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