Summary - 2d, Spencer Street, NORWICH NR3 4PA
1 bed 1 bath Apartment
Compact, low-maintenance one-bed with roof terrace and strong rental yield..
Investor yield over 8% potential
New flooring and newly installed hob and vent
Communal roof terrace for outdoor space
Leasehold c.120 years remaining
Service charge £400 (below average)
Ground rent £100 per year (small)
Electric storage heaters; higher running costs likely
Solid brick walls assumed uninsulated
Well-presented ground-floor one-bedroom apartment in NR3, suited to first-time buyers or buy-to-let investors. The flat has been refreshed with new flooring and a newly fitted hob and vent, and benefits from a separate lounge, compact kitchen and a bright double bedroom with a modern shower room. A communal roof terrace provides outdoor space uncommon at this price point.
Practicalities are straightforward: the property is leasehold with c.120 years remaining, a below-average service charge (£400) and a small ground rent (£100). Mortgage lending is described as easy to obtain and the current estimated investor yield is over 8%, reflecting strong local rental demand in this student-and-professional area.
There are some material considerations to note. Heating is via electric storage heaters and the building’s original solid brick walls are assumed uninsulated, which can affect running costs and comfort. On-street parking only, and the neighbourhood is described as relatively deprived despite very low local crime levels.
Overall, this is a compact, low-maintenance home or a ready-made rental purchase for someone prioritising location and yield over generous living space. Buyers should verify lease details, service charges and running costs during conveyancing and consider upgrades to heating or insulation if long-term owner-occupier comfort is required.
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