15 Mandells Court, Norwich, Norfolk NR3 1AY

Description

Tucked away vacant city centre studio flat in good decorative order This ground floor studio flat is tucked away in a historic city centre location just off Princes Street and located close to Norwich Cathedral, Tombland and Elm Hill. It faces the inner courtyard and was previously let at £550 pcm (£6,600 pa), and is now to be sold with vacant possession. It is in good decorative order, has electric heating and extends to around 21 sq/m. It can be accessed either via Princes Street or Waggon and Horses Lane. This would be an ideal purchase for an investor or owner occupier.

Location

15 Mandells Court, Norwich, Norfolk NR3 1AY. Located in the NR3 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: ★★☆☆☆