Summary - House of Handsome,17 Gloucester Street,NORWICH,NR2 2DX NR2 2DX
1 bed 1 bath Terraced
Freehold mixed-use lot producing 9.2% yield — cash buyers, Buy It Now £300,000..
Cash buyers only — sold under auction conditions
Buy It Now £300,000 — freehold, combined income £27,600 pa
Gross yield approximately 9.2% (based on current rents)
Mixed-use: shop let £14,400 pa; 2-bed house let £13,200 pa; flat freehold
Requires modernisation and cosmetic repairs; services not tested
Small plot with limited garden — urban, high-demand area for students/professionals
Leases in place; purchaser takes on existing tenancies
Fast broadband, excellent mobile signal; low flood and crime risk
A rare freehold split residential and commercial opportunity in NR2, offered under auction conditions with a Buy It Now price of £300,000. The lot combines a ground-floor shop let at £14,400 pa, a two-bedroom house let at £13,200 pa, and the freehold to a flat, producing a combined income of £27,600 pa (gross yield 9.2%). This is a clear cash-buyer investment for those seeking immediate rental income in a student-and-professional neighbourhood.
Properties are in mixed condition and will benefit from modernization. The buildings present scope for value-add through cosmetic refurbishment and management-led improvements; some elements and services have not been tested and an inspection is recommended. The site is freehold, in a low-crime, affluent city location with fast broadband and excellent mobile signal — features that appeal to students, professionals and short-term lettings.
Buyers should note the sale is under auction conditions and is cash-buyers only. Leases are available to view; purchasers inherit existing tenancies. The plot is small and garden space is limited. Prospective buyers must satisfy themselves on all matters including condition, serviceability and lease terms — no appliances or services have been verified.
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