1 Lady Mary Road, Norwich, Norfolk NR1 2QZ

Description

Freehold purpose built ground floor two bedroom flat with garden, garage and off road parking This purpose built freehold two bedroom ground floor flat extends to around 73 sq/m. The property benefits from a generous front and side garden and has a garage with blue door almost opposite and off road parking on a separate title. It is in good decorative order and is now to be sold with vacant possession. It has a good epc C rating making it ideal as a buy to let investment or for owner occupation. The flat is located around a mile south of the city centre within easy reach of a comprehensive range of services and amenities. On instruction of executors.

Location

1 Lady Mary Road, Norwich, Norfolk NR1 2QZ. Located in the NR1 postcode district. Verify exact position, access, local demand and comparable evidence before bidding.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Development. Set the maximum bid only after reviewing condition, legal pack, finance, rents and sold evidence.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, decoration and any structural, roofing, damp, kitchen, bathroom, external or development works identified.

Rental & Market Context

HB rental/value figures are indicative appraisal estimates and should be checked against current local letting and sold evidence.

Sold within approximately 5 miles

Check recent Land Registry transactions and closely matched local comparables for property type, size, tenure and condition.

Potential BRRR Position

Refinance potential depends on the completed condition, lender valuation, tenure and rental stress testing; development/commercial assets require specialist lender criteria.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the full legal pack and special conditions

• Verify tenure, occupancy, planning and title restrictions

• Inspect condition and obtain contractor quotations

• Confirm finance and insurance availability

• Verify rents and recent sold comparables

• Allow for buyer premium, administration charges and disbursements

Recommendation

Proceed only where verified total project cost supports the intended development strategy with adequate contingency.

Strategy Rating

Development: ★★★★☆ | Resale: ★★★★☆ | Buy-to-Let: ★★☆☆☆