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Cambridge Street, Norwich, Norfolk, NR2 - Image 1
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Cambridge Street, Norwich, Norfolk, NR2 - Image 5

Cambridge Street, Norwich, Norfolk, NR2

East of England

£550,000
Listed on 02/10/2025

Property Details

Bedrooms
4
Type
Terraced house
Area
1569 sqft

Description

This mid-terraced four-bedroom home presents a unique opportunity for renovation in the desirable Golden Triangle area of Norwich. Spanning four levels, the property features a layout conducive to family living, while also offering significant potential for improvement and expansion. Upon entering, you are greeted by a classic entrance hall that leads to a comfortable sitting room complete with a feature fireplace. The ground floor also includes a dining room and a spacious kitchen/breakfast area, which opens into a garden room. This space offers abundant natural light and could be transformed into an even more inviting living area with the right enhancements. A cloakroom completes this level. Ascend to the first floor where you will find three bedrooms, including the principal bedroom which retains its original fireplace. These rooms share access to a family bathroom. The second floor features a loft conversion that has been utilized as a fourth bedroom, offering an additional dimension for relaxation or study. One of the property's most notable features is the expansive cellar on the lower ground level. This area includes two storage rooms and a bay window, presenting an ideal canvas for conversion into extra living space—be it a games room, additional bedroom, or another functional area—pending necessary permissions. Recent planning permission has been secured to replace the existing garden room and extend the kitchen, allowing for more open-plan living. There are also plans for dormer windows in the loft conversion and extensive refurbishment of the basement level. Period characteristics such as sash windows, intricate cornicing, and original picture rails lend an appealing charm to this home. Outside, you'll find a south-facing walled garden primarily laid to lawn with mature shrub borders—perfect for creating an outdoor oasis or entertaining space. On-street permit parking is available nearby, with an additional parking space potentially accessible through separate negotiation. Situated within walking distance of local amenities—pubs, restaurants, bakeries, and markets—the property benefits from easy access to Heigham Park which offers recreational facilities including tennis courts and playgrounds. Highly regarded schools are also located close by. Norwich city center is about one mile away and provides vast shopping options alongside rich cultural experiences at venues such as theatres and galleries. The area is well-served by public transport links including regular rail services to London Liverpool Street in approximately 90 minutes. Overall, this property not only offers immediate residential comfort but also substantial potential for investment through thoughtful renovations that can enhance both its value and livability in one of Norwich's most coveted neighborhoods.

Investment Analysis

(NR2 area)

Above Market Value

This property is priced +8.9% above area average per sq ft

+8.9%
This Property
£351/sq ft
Area Average
£322/sq ft
Avg Rent (weekly)
£265
Avg Yield
4.8%

Renovation Potential

Est. Renovation Cost
£55,000 - £137,500
10-25% of property value
Target Value
£555,654
10% above area average per sq ft
Potential ROI
-19.2%
After renovation
Monthly Sales
23
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (NR2)

Area prices are rising by +4.0% over the last 12 months
3 year growth: 14.9%
5 year growth: 19.7%
Investment Disclaimer: Analysis based on NR2 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Cambridge Street, Norwich, Norfolk, NR2
Map showing location of Cambridge Street, Norwich, Norfolk, NR2
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