36 Normandie Tower, Rouen Road, Norwich, Norfolk NR1 1QR

Description

A purpose-built one bedroom apartment situated on the sixth floor of Normandie Tower, conveniently positioned for access to Norwich city centre and its wide range of shops, amenities and transport links. The property is offered with vacant possession and provides well proportioned accommodation comprising an entrance hall, living room, kitchen, bedroom and bathroom. An ideal opportunity for investors, the apartment offers the potential to generate an attractive rental income and could provide a double digit gross rental return. It may also appeal to owner occupiers seeking an affordable city property.

Accommodation

Shared entrance lobby with lift and staircase to the 6th floor landing. The property has a private hall, spacious lounge, kitchen, double bedroom and bathroom.

Location

Close to Norwich city centre, with access to shops, amenities and transport links.

Tenure / Property Information

Investment Analysis

The supplied completed sales in the same tower range from £90,000 in 2022 to £115,000 in 2024. The two most recent sales were both £115,000, supporting a base GDV estimate of £115,000, although the comparables are not confirmed to be the same flat and are not formal valuations. A supported evidence range is £90,000 to £115,000.

Investment Snapshot

Strategy Recommendation

Treat as a valuation-led purchase only. Review the legal pack, leasehold charges, lease terms, EPC implications and internal condition, and bid only at a level that leaves a clear margin below the supported resale evidence. Do not rely on the claimed double-digit rental return without rent evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. The EPC is rated F, so an EPC assessment and any legally or practically appropriate energy-efficiency works should be investigated. The kitchen, bathroom, electric heating and general condition require inspection before estimating works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £115,000, 75% of GDV equates to £86,250. A meaningful BRRR assessment cannot be completed because the purchase price, refurbishment allowance, rent, service charge, ground rent, finance costs and other completion costs are not sufficiently evidenced. The £1,200 administration charge is known, but other buyer and legal-pack costs remain uncertain.

Buy-to-Let Analysis

The property is vacant and positioned near Norwich city centre, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rental income and gross yield therefore cannot be established. Service charge, ground rent and other leasehold costs are also not provided and could materially affect net returns.

Flip Analysis

The recent same-tower sales support a potential resale benchmark of £115,000, with an older supported sale at £90,000. A flip surplus cannot be calculated because the purchase price, works allowance and selling costs are not established. The EPC F rating and unknown internal condition create additional resale and cost uncertainty.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence, so rental income and yield are unverified.

• EPC rating F may require investigation and potentially energy-efficiency expenditure.

• Leasehold service charge, ground rent and other ongoing costs are not supplied.

• The lease commenced on 22 November 1982 for 125 years, so the remaining term and any lender implications should be verified.

• Buyer premium, disbursements, legal fees, searches, seller-cost reimbursement and transfer fees may be payable but are not quantified.

• Internal condition of the kitchen, bathroom, electric heating and other accommodation is not evidenced.

• Comparable sales are in the same tower but are not confirmed to be the same flat or identical condition.

Recommendation

Treat as a valuation-led purchase only. Review the legal pack, leasehold charges, lease terms, EPC implications and internal condition, and bid only at a level that leaves a clear margin below the supported resale evidence. Do not rely on the claimed double-digit rental return without rent evidence.

Strategy Rating

Analysis Confidence

There are several completed sales in the same tower, including two recent £115,000 sales, but there is no rental evidence, refurbishment estimate, service-charge information, detailed condition report or complete buyer-cost schedule.