14 Prince of Wales Road, Norwich, Norfolk

Description

High yielding freehold commercial investment close to the city centre let producing £23,000 pa. Two-storey mid-terrace commercial property with a total net internal area of 196.3 sq m (2,113 sq ft), used as Class E commercial/business premises.

Accommodation

Basement: 758 sq ft. Ground floor: 775 sq ft, largely open-plan with meeting room, WC and kitchen. First floor: 580 sq ft, carpeted with painted walls, single-glazed timber-frame windows, small kitchenette area to the rear and WC; accessed via a separate external front door to the right-hand side of the building.

Location

Prince of Wales Road is one of the main vehicular and pedestrian thoroughfares between Norwich's main shopping centre and the Norwich mainline railway station. The surrounding area includes a mixture of retail, offices and nightlife. Nearby occupiers include Norfolk Chamber of Commerce, Handelsbanken, Hays Recruitment, Arnolds Keys and Tesco Express.

Tenure / Property Information

Investment Analysis

The property is a freehold, two-storey Class E commercial investment let at £23,000 pa under a ten-year lease dated 17 November 2025. The £200,000 guide implies an 11.50% gross yield before fees. Supplied sold comparables are nearby freehold commercial properties but differ in size, use and price, so they do not support a reliable GDV. No formal valuation yield or capitalisation evidence is supplied.

Investment Snapshot

Strategy Recommendation

Assess as an income-producing commercial hold, subject to legal-pack review, lease verification, tenant covenant checks and confirmation of all purchaser disbursements. Do not rely on residential rental evidence.

Works Required

No specific refurbishment works are evidenced. Confirm condition, EPC requirements, heating systems and tenant repairing obligations through inspection and the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be established because no GDV, commercial refinance valuation yield, works budget or lending terms are supplied. The property is already let, but refinancing capacity remains unquantified.

Buy-to-Let Analysis

This is a commercial investment rather than residential BTL. The stated passing rent is £23,000 pa, producing an 11.50% gross yield on the £200,000 guide and approximately 11.38% after the stated £960 buyer premium and £1,200 admin charge. Net yield cannot be established without operating costs, insurance, repairs and management information.

Flip Analysis

A flip surplus cannot be calculated because no supported GDV, refurbishment budget, selling costs or commercial resale evidence is available. The supplied comparables are insufficiently comparable for a reliable resale valuation.

Investor Risks & Due Diligence

• The property is subject to a ten-year commercial lease, so lease terms, repair obligations, rent review provisions and forfeiture rights require legal review.

• The tenant covenant and ability to sustain the stated £23,000 pa rent are not evidenced.

• The EPC rating is E, with potential compliance or improvement implications requiring confirmation.

• Additional disbursements, seller costs, legal fees, search fees and transfer fees may be payable under the auction terms.

• No commercial valuation yield, operating expenses or net income statement is supplied.

Recommendation

Assess as an income-producing commercial hold, subject to legal-pack review, lease verification, tenant covenant checks and confirmation of all purchaser disbursements. Do not rely on residential rental evidence.

Strategy Rating

Analysis Confidence

Passing rent, lease date, accommodation, tenure and known auction charges are supplied, but there is no formal valuation, operating-cost schedule, tenant covenant evidence, detailed legal-pack costs or refurbishment assessment.