Summary - 4e St. Nicholas Court, Vicarage Street NR28 9BY
1 bed 1 bath Flat
Immediate rental income in walkable North Walsham location.
One-bedroom first-floor flat with tenant in situ
Set on the first floor and currently let, this one-bedroom flat in St Nicholas Court is presented primarily as an investment purchase. The accommodation includes an open-plan lounge/kitchen, double bedroom and bathroom. The property comes with communal off-street parking and a long lease (107 years remaining). Ground rent is low at £50 per year.
The building dates from the late 1960s/early 1970s and has electric storage heating with double glazing added after 2002. Wall construction is cavity with no added insulation (assumed), so running costs may be higher than modern standards despite the very cheap council tax. There is no flooding risk but the neighbourhood records above-average crime and is classed as an area of deprivation — factors investors should weigh when setting rents and assessing demand.
This flat is being offered as part of a two-flat sale for £180,000 (each offered individually at £90,000), with a tenant in situ. That makes it suitable for a buyer seeking immediate rental income or a small portfolio addition. Some cosmetic updating and energy-efficiency improvements (insulation, heating upgrade) would increase tenant appeal and rental value.
Buyers should note the leasehold tenure and that additional fees (lease packs, legal searches) may apply. As with any purchase of a let property, prospective purchasers should verify tenancy terms, commission their own service reports and consider a survey to confirm condition and any remedial work required.
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