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Gurney Road, New Costessey, Norwich

East of England

£245,000
Listed on 19/03/2026

Property Details

Bedrooms
3
Type
Detached Bungalow

Description

This three-bedroom chalet bungalow offers a promising investment opportunity in the desirable area of New Costessey. In need of extensive renovation across the board, this property presents an ideal project for investors or those looking to create a personalized family home. The entrance greets you with a spacious hallway leading to all main ground floor rooms. The front-facing sitting room features a bay window that invites natural light, flowing into the adjacent dining area, perfect for gatherings. Two well-sized double bedrooms are also located on this floor, with the primary bedroom benefiting from another bay window for added character. Upstairs, there's an additional spacious bedroom along with generous loft space ripe for conversion (subject to planning). The kitchen/dining room at the rear is fitted with various units and boasts attractive views, connected to a side lean-to conservatory. Completing the ground floor is a bathroom and separate WC. Externally, there’s useful storage beneath the kitchen/dining room and a lawned garden in front leading to side access. Notably, this property was part of a larger plot; planning permission has been obtained for three extra homes to be built at the rear (Planning Ref 2023 0227), which opens up further development potential. Changes include removal of the existing garage and adjustments for new driveway access alongside an updated site layout. This is an exceptional chance to explore both residential renovation and investment opportunities in a growing neighborhood.

Investment Analysis

(NR5 area)
Area Average
£283/sq ft
Avg Rent (weekly)
£439
Avg Yield
8.1%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£60,000 - £90,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
21
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (NR5)

Area prices are falling by -4.6% over the last 12 months
3 year growth: -8.2%
5 year growth: +7.0%
Investment Disclaimer: Analysis based on NR5 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

Gurney Road, New Costessey, Norwich
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Mortgage Calculator

£
£
£
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years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£884
Based on a loan of £183,750 over 30 years at 4.06% 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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