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Hervey Street, Lowestoft NR32 - Image 1
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Hervey Street, Lowestoft NR32

East of England

£130,000
Listed on 16/03/2026

Property Details

Bedrooms
3
Type
Detached
Area
1367 sqft

Description

This property presents a compelling investment opportunity through the combined sale of two flats located in a prime area, providing convenient access to local amenities and transport. The first-floor flat has been thoughtfully updated, featuring an inviting open-plan living space highlighted by impressive vaulted ceilings and exposed beams. It boasts a modern kitchen and bathroom alongside two well-sized bedrooms. Additionally, there are partially converted loft spaces that could potentially be transformed into extra living areas, pending necessary approvals. In contrast, the ground floor flat is in a raw state, stripped down to its essential structure and ready for complete refurbishment. This blank canvas allows prospective buyers or developers the chance to customize the layout according to personal specifications. With some internal timber studwork already in place for wall divisions, this project offers substantial potential to maximize value once completed. Both flats also benefit from practical brick-built storage at the exterior of the property. With their strategic location near the heart of an established coastal town known for its beautiful beaches and vibrant community atmosphere, this property is ideally suited for those looking to invest in a development project with promising returns.

Investment Analysis

(NR32 area)

Below Market Value

This property is priced -60.8% below area average per sq ft

-60.8%
Potential saving
This Property
£95/sq ft
Area Average
£242/sq ft
Avg Rent (weekly)
£188
Avg Yield
4.1%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£40,000 - £70,000
Target Value
£364,347
10% above area average per sq ft
Potential ROI
+82.2%
After renovation
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
14%
Properties sold annually

Local Market Trend (NR32)

Area prices are stable by +0.4% over the last 12 months
3 year growth: -3.7%
5 year growth: +9.5%
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 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£469
Based on a loan of £97,500 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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