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Mill Road, Norwich NR15

East of England

£385,000
Listed on 04/11/2025

Property Details

Bedrooms
3
Type
Detached Bungalow
Area
838 sqft

Description

This detached bungalow sits on a generous 0.65-acre plot, making it a prime candidate for renovation and potential development, subject to planning permission. Located on the outskirts of the sought-after village of Hempnall, the property offers an appealing semi-rural atmosphere with open fields at the rear. The bungalow features versatile layout options, currently comprising two front-facing rooms that can function as bedrooms or reception spaces, complemented by a further bedroom and a snug/dining area that connects seamlessly to the refitted kitchen/breakfast room. With direct access to the garden, this area is ideal for indoor-outdoor living. The property also includes a wet room, which could be reverted back to its original bathroom configuration if desired. Outside, you will find ample grounds featuring well-maintained gardens bordered by mature hedging and trees, alongside various outbuildings such as stables and Nissan huts that offer exciting possibilities for redevelopment or restoration. The dual access from the main road enhances convenience for future projects. Hempnall itself is a quaint village offering local amenities including a shop and public house, while being well-connected to larger towns like Long Stratton and Diss. This property represents an opportunity not only to create a wonderful home but also to explore broader investment possibilities in this desirable location.

Investment Analysis

(NR15 area)

Above Market Value

This property is priced +51.8% above area average per sq ft

+51.8%
This Property
£459/sq ft
Area Average
£303/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£45,000 - £75,000
Target Value
£278,983
10% above area average per sq ft
Potential ROI
-39.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
14
Average per month
Market Turnover
37%
Properties sold annually

Local Market Trend (NR15)

Area prices are rising by +5.2% over the last 12 months
3 year growth: -4.3%
5 year growth: +13.3%
Investment Disclaimer: Analysis based on NR15 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Mill Road, Norwich NR15
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£1,389
Based on a loan of £288,750 over 30 years at 4.06% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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