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54 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 1
54 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 2
54 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 3
54 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 4
54 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 5
54 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 6
54 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 7
54 Prince Of Wales Road, Norwich, Norfolk, NR1 - Image 8

54 Prince Of Wales Road, Norwich, Norfolk, NR1

East of England

£750,000
Listed on 28/03/2025

Property Details

Bedrooms
N/A
Type
Detached house
Area
2131 sqft

Description

This substantial multi-unit freehold block presents a noteworthy opportunity for both renovation and investment in the heart of Central Norwich. The property features four well-sized apartments, including two one-bedroom units, a two-bedroom unit, and a three-bedroom unit. In addition to these residential spaces, there is a vacant commercial unit situated on the ground floor and basement, offering potential for diverse income generation. The location is advantageous for attracting tenants and customers alike, with significant foot traffic and proximity to notable national retailers such as Tesco and Coral. Just a short walk away are key landmarks including Norwich Castle and the train station, enhancing both the allure and accessibility of this property. There is considerable scope for asset management improvements or redevelopment (subject to planning permissions), making this an ideal project for those looking to maximize its potential. The top floor atrium adds distinct character to the building, inviting creative ideas for modernization or conversion. Investors seeking a property with inherent value in a vibrant area will find this offering particularly compelling. For further details about income schedules and site plans, please reach out to explore how this property can meet your investment objectives.

Investment Analysis

(NR1 area)

Above Market Value

This property is priced +22.8% above area average per sq ft

+22.8%
This Property
£352/sq ft
Area Average
£287/sq ft
Avg Rent (weekly)
£260
Avg Yield
6.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£80,000 - £150,000
Target Value
£671,585
10% above area average per sq ft
Potential ROI
-25.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
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

54 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
£2,747
Based on a loan of £562,500 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