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Plot 2, Sam Smith Way, Rackheath, Norfolk - Image 1
Plot 2, Sam Smith Way, Rackheath, Norfolk - Image 2
Plot 2, Sam Smith Way, Rackheath, Norfolk - Image 3
Plot 2, Sam Smith Way, Rackheath, Norfolk - Image 4

Plot 2, Sam Smith Way, Rackheath, Norfolk

East of England

£200,000
Listed on 03/10/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a compelling opportunity for those looking to invest in a generous building plot with outline planning permission for a spacious two-storey, five-bedroom detached home. With the groundwork already laid for your dream residence, this site allows you to create a unique living space tailored specifically to your tastes and requirements. Situated on Sam Smith Way within the desirable village of Rackheath, this plot is uniquely positioned at the edge of the community, offering serene country views while maintaining close proximity to Norwich city centre—just a few miles away. This strategic location combines the tranquility of rural living with easy access to urban amenities and services, making it an attractive option for families or professionals seeking a peaceful yet connected lifestyle. The self-build nature of this property comes with various financial advantages, such as being exempt from VAT and qualifying for potential exemptions under the Community Infrastructure Levy (CIL) upon successful application. Additionally, contributions related to nutrient neutrality have already been settled, and there’s no requirement for Biodiversity Net Gain contributions—these factors significantly enhance its appeal for savvy investors. The surrounding area boasts ample green spaces and scenic walking routes ideal for outdoor enthusiasts. Families will benefit from the vicinity of reputable local schools like Rackheath Primary School and Sprowston Community Academy, alongside essential amenities that include supermarkets, shops, and recreational facilities. For those commuting, excellent transport connections are available via Salhouse railway station nearby, which provides services to Norwich and beyond. The A1042 road ensures quick access to major routes like the A47, which opens up further exploration opportunities across Norfolk's picturesque landscapes including the Norfolk Broads and North Norfolk coastline. This is an exceptional chance to secure a prime plot in a sought-after location—offering not only space and beautiful views but also significant potential for investment and growth. Early inquiry is encouraged to fully appreciate what this opportunity entails.

Investment Analysis

(NR13 area)
Area Average
£318/sq ft
Avg Rent (weekly)
£295
Avg Yield
4.1%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£250,000 - £400,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
29
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (NR13)

Area prices are stable by +1.3% over the last 12 months
3 year growth: -2.2%
5 year growth: 14.5%
Investment Disclaimer: Analysis based on NR13 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

Plot 2, Sam Smith Way, Rackheath, Norfolk
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Mortgage Calculator

£
£
£
%
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£733
Based on a loan of £150,000 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