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Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 1
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 2
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 3
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 4
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 5
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 6
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 7
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 8
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 9
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 10
Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 11

Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1

East of England

£625,000
Listed on 15/10/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a unique opportunity for residential conversion, pending relevant planning approvals. Situated prominently along Prince of Wales Road, it benefits from substantial visibility and foot traffic, making it an attractive location for potential redevelopment. The building consists of three stories, featuring two self-contained office or retail units on the ground floor that face the bustling road. The upper floors consist largely of open-plan office space, which could be reconfigured to accommodate residential units or other uses depending on the buyer's vision. Access to these upper floors is straightforward through a dedicated entrance at ground level, ensuring ease of movement. Internally, the property boasts several functional amenities including suspended ceilings with Category 2 lighting, carpeted floors, and disabled WC facilities. An internal lift is available but currently not operational, offering additional potential for upgrades during renovation. Security features such as an alarm system and air conditioning in select areas provide a solid foundation for future enhancements. Convenient public parking options are located nearby at Rose Lane Car Park and along Prince of Wales Road, adding further appeal for both residential tenants and commercial clients. With its strategic location and existing features, this property offers significant renovation opportunities to create modern living spaces or commercial entities in a vibrant area.

Investment Analysis

(NR1 area)
Area Average
£287/sq ft
Avg Rent (weekly)
£260
Avg Yield
6.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£50,000 - £100,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
33
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (NR1)

Area prices are stable by +1.6% over the last 12 months
3 year growth: -2.0%
5 year growth: 10.8%
Investment Disclaimer: Analysis based on NR1 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

Greyfriars House, 18-20 Prince Of Wales Road, Norwich, Norfolk, NR1
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£2,290
Based on a loan of £468,750 over 30 years at 4.19% 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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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE