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Gloucester Way, Thetford

East of England

£150,000
Listed on 31/10/2025

Property Details

Bedrooms
3
Type
Semi-detached house
Area
900 sqft

Description

This end-of-terrace property, originally designed as a three-bedroom home, presents a unique opportunity for renovation and investment. Located within the Abbey Development of Thetford, this residence offers ample space and the potential to customize it to personal preferences or market demands. Offered with no onward chain, it is an appealing choice for first-time buyers or investors looking to enhance value through thoughtful updates. The home features an entrance hall that leads to various ground floor rooms, while a staircase provides access to the upper level. The main living area is a lounge/diner characterized by a brick surround and sliding patio doors that open into the rear garden, allowing for natural light and outdoor access. The kitchen is equipped with base and wall-mounted cabinets, plumbing for major appliances, and sufficient space for further enhancements. Upstairs, the two bedrooms — originally three — maintain fitted wardrobes with mirrored sliding doors and large windows providing pleasant views. Should you wish to revert back to a three-bedroom configuration, re-installing a wall would be straightforward due to existing layouts. The property includes a family bathroom featuring essential amenities with potential for modernization. Both front and rear outdoor spaces are designed for low maintenance; the front garden offers paved access steps while the rear is enclosed with paving and additional storage options. The location in Thetford benefits from nearby nature reserves such as Nunnery Lakes and Brettenham Heath National Nature Reserve, offering numerous outdoor activities within close proximity. With good transport links via a mainline railway station connecting to London and other key areas, as well as local schools ranging from primary through sixth form, this property not only provides comfort but also situates itself well within community amenities. This home stands out as an investment opportunity — whether aiming to renew its charm or adapt it further for rental potential within this growing area of Norfolk.

Investment Analysis

(IP24 area)

Below Market Value

This property is priced -35.9% below area average per sq ft

-35.9%
Potential saving
This Property
£167/sq ft
Area Average
£260/sq ft
Avg Rent (weekly)
£263
Avg Yield
5.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £30,000
Target Value
£257,400
10% above area average per sq ft
Potential ROI
+43.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
22
Average per month
Market Turnover
18%
Properties sold annually

Local Market Trend (IP24)

Area prices are falling by +4.1% over the last 12 months
3 year growth: -7.5%
5 year growth: 13.8%
Investment Disclaimer: Analysis based on IP24 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

Gloucester Way, Thetford
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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
£549
Based on a loan of £112,500 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