Summary - 133A MAGDALEN ROAD NORWICH NR3 4LB
1 bed 1 bath Terraced
### Standout Features:
- **Current Income**: Fully let generating approximately £8,500 per annum from two commercial spaces.
- **Redevelopment Potential**: Opportunity to convert into a residential property, pending planning permissions.
- **Location**: Situated in a cosmopolitan area on the outskirts of Norwich City Centre, surrounded by family-friendly amenities and multiple schools.
### Summary:
This mid-terrace property offers a unique investment opportunity with its two commercial spaces currently providing steady rental income of £8,500 per year. Located in a vibrant neighborhood on the edge of Norwich, this property presents the chance for redevelopment into a residential unit, subject to necessary permissions—ideal for investors seeking future growth in a desirable location.
The property features a ground-floor retail unit and a first-floor office, both positioned in a culturally rich community with easy access to amenities such as cafes, schools, and parks. While the area does experience above-average crime rates, it is classified as family-friendly and includes multiple nearby schools with good Ofsted ratings, making it suitable for various tenants.
Please note that the property is set to be sold at auction with a guide price of £80,000. Potential buyers should be aware of the need for further surveys to confirm property condition, particularly regarding insulation, as it is assumed to lack sufficient thermal efficiency. Don’t miss out on this chance to secure a promising investment with room for further development in a bustling part of Norwich!
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