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Hervey Street, Lowestoft, NR32

East of England

£170,000
Listed on 26/12/2025

Property Details

Bedrooms
3
Type
Detached house

Description

This property presents a compelling opportunity for investors or developers, featuring two flats available for purchase as a single entity in a prime location. The first floor flat has been fully renovated, showcasing an open-plan living area enhanced by vaulted ceilings and exposed beams, along with a modern kitchen and bathroom. It includes two bedrooms and partially converted loft spaces that offer further expansion possibilities, pending necessary consents. The ground floor flat is stripped back to its shell, allowing for complete customization and refurbishment according to personal design preferences. Externally, both units come with brick-built storage and individual garages, adding value in terms of convenience and potential rental appeal. Nestled within walking distance to the town centre, train station, and various amenities, this dual flat arrangement is perfect for those looking to maximize their investment with future enhancements that can significantly boost market value.

Investment Analysis

(NR32 area)
Area Average
£245/sq ft
Avg Rent (weekly)
£184
Avg Yield
4.0%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£35,000 - £60,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
37
Average per month
Market Turnover
30%
Properties sold annually

Local Market Trend (NR32)

Area prices are falling by +2.3% over the last 12 months
3 year growth: -2.9%
5 year growth: 10.1%
Investment Disclaimer: Analysis based on NR32 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

Hervey Street, Lowestoft, NR32
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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
£623
Based on a loan of £127,500 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