89 Pottergate, Norwich, Norfolk NR2 1DZ

Description

Vacant Grade II listed city centre five bedroom house extending to around 80 sq/m This red brick and pantile roof two storey mid terrace Grade II listed house is located within the city centre conservation area. It was built in the late 17th century and renovated in the 20th century and has a carriage entry to the right hand side that leads to a rear garden. The building was used for offices at one time and more recently was used as a house of multiple occupation (HMO). It is registered for council tax and has gas central heating. It has a wealth of period features including exposed beams and sash windows, and according to Historic England’s Listing Entry (No 1219799) there is a large barrel-vaulted cellar beneath the whole extent of the block.

Location

89 Pottergate, Norwich, Norfolk NR2 1DZ. Located in the NR2 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: ★★☆☆☆