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Upper St. Giles Street, Norwich

East of England

£120,000
Listed on 18/06/2025

Property Details

Bedrooms
N/A
Type
Mixed Use

Description

This expansive lower ground floor space, previously utilized by the Eaton Rifle Club, offers an impressive 2,455 sq ft (228.1 sq m) of potential for redevelopment. With access from the ground floor leading down to a versatile area featuring three distinct sections and varying ceiling heights (the main area reaching 2.7m), this property presents a blank canvas ripe for transformation. The main cellar boasts an uninterrupted span of about 27 meters, ideal for various uses, subject to planning permissions. Located in the historic Upper St. Giles Street area of Norwich, known for its vibrant artisan atmosphere filled with galleries, cafés, and dining options, this site could become a valuable investment opportunity. Prospective buyers should consult with local planning authorities regarding suitable applications for use; however, high-traffic concepts like nightclubs might be restricted given the residential context of the surrounding neighborhood. The property is offered with a long leasehold agreement (125 years from April 2006) and comes with vacant possession as well as prepaid service charges and ground rent until June 2025.

Investment Analysis

(NR2 area)
Area Average
£322/sq ft
Avg Rent (weekly)
£327
Avg Yield
6.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£45,000 - £70,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
35
Average per month
Market Turnover
19%
Properties sold annually

Local Market Trend (NR2)

Area prices are stable by -1.0% over the last 12 months
3 year growth: +7.7%
5 year growth: +8.1%
Investment Disclaimer: Analysis based on NR2 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

Upper St. Giles Street, Norwich
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£425
Based on a loan of £90,000 over 30 years at 3.91% 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.

Stamp Duty Calculator

This calculation uses non-residential (land/commercial) tax rates.

Price History

-4.0% since listed
£120,000£5,000(-4.0%)
17/07/2025
Current price
£125,000Initial listing
17/06/2025

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