6 Rolleston Close, Norwich, Norfolk

Description

Two bedroom ground floor flat close to UEA requiring updating. This two-bedroom, ex-local authority ground floor flat is situated within a small cul-de-sac, conveniently located less than one mile from the University of East Anglia (UEA) and approximately three miles west of Norwich city centre. The property benefits from its own private entrance, together with front and rear gardens. The accommodation is double glazed and would now benefit from a programme of modernisation and improvement, offering an appealing opportunity for both owner-occupiers and investors.

Accommodation

Ground floor: entrance hall, sitting room, bathroom, kitchen, two bedrooms

Location

Situated within a small cul-de-sac, less than one mile from the University of East Anglia and approximately three miles west of Norwich city centre.

Tenure / Property Information

Investment Analysis

Completed sales on Rolleston Close range from £135,000 to £165,000 in 2021–2023, with this property recording £118,000 in 2020. Given the updating requirement and limited comparable detail, a broad evidence-based GDV range of £135,000–£165,000 is used, with £150,000 as the base estimate.

Investment Snapshot

Strategy Recommendation

Proceed only if the legal pack, lease terms and inspection support the updating opportunity and the final purchase price leaves a clear margin below the evidence-based GDV range.

Works Required

Modernisation and improvement of the flat, including updating the kitchen, bathroom, finishes and decoration as required. No detailed survey or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be reliably modelled without refurbishment costs, achievable rent, finance costs and confirmed purchase price. A base 75% GDV refinance would indicate £112,500 against the £150,000 base GDV, before all project costs.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The flat is vacant and leasehold, with service charge and ground rent information absent.

Flip Analysis

The supplied evidence supports a broad resale/GDV range of £135,000–£165,000, but no refurbishment budget, selling allowance or purchase price is available. Flip surplus therefore cannot be calculated.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unquantified.

• No reliable rental evidence is supplied, preventing yield analysis.

• Leasehold service charge, ground rent and other lease terms are not provided.

• Additional legal-pack disbursements and purchaser costs may apply.

• Comparable sales show a broad price range and limited detailed comparability.

Recommendation

Proceed only if the legal pack, lease terms and inspection support the updating opportunity and the final purchase price leaves a clear margin below the evidence-based GDV range.

Strategy Rating

Analysis Confidence

Completed sales and tenure information are available, but refurbishment costs, rent, leasehold charges, condition detail and legal-pack disbursements are missing.