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64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 1
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 2
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 3
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 4
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 5
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 6
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 7
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 8
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 9
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 10
64-66 Westwick Street, Norwich, Norfolk NR2 4SZ - Image 11

64-66 Westwick Street, Norwich, Norfolk NR2 4SZ

East of England

£650,000
Listed on 07/12/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a rare opportunity for investors and developers, featuring two substantial commercial premises located alongside the River Wensum, just moments from Norwich city centre. Spanning 0.43 acres, this site includes two interconnected buildings with a total of 15 commercial units and ample parking for 30 vehicles. The first building is a two-storey structure with 14 office spaces, complete with shared amenities such as kitchens and restrooms, covering approximately 638 sq/m (6867 sq/ft). This space is currently partially occupied. Opposite it lies a single-storey building of around 251 sqm (2701 sq/ft) that is fully leased to a reliable tenant. The existing rental income from these units totals around £121,500 per annum, indicating strong cash flow potential. The property not only allows for continued use as commercial spaces but also holds significant promise for refurbishment or alternative redevelopment into residential units, pending necessary planning consents. With an attractive location and existing rental agreements, this asset offers both immediate returns and future growth potential through strategic renovation.

Investment Analysis

(NR2 area)
Area Average
£321/sq ft
Avg Rent (weekly)
£333
Avg Yield
6.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
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
23%
Properties sold annually

Local Market Trend (NR2)

Area prices are rising by +2.9% over the last 12 months
3 year growth: 9.4%
5 year growth: 13.2%
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

64-66 Westwick Street, Norwich, Norfolk NR2 4SZ
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Mortgage Calculator

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£
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Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£2,381
Based on a loan of £487,500 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