Summary - Waggon & Horses Lane, Norwich NR3 1JP
1 bed 1 bath Flat
Compact central studio — cash buyers only due to short lease, strong rental potential if refurbished..
- City-centre studio with fitted kitchen and separate shower room
- Approx 24 sqm (262 sq ft); best for single occupant or let
- Short lease (~54 years) — may block mortgage lending
- Cash buyers strongly advised due to lease length
- Low ground rent £25 per year
- Communal lawned garden, bike storage and secure entry
- Building externally dated; flat likely needs internal modernisation
- Local area records very high crime — affects rental/insurance
A compact studio in the heart of Norwich city centre, this ground-floor apartment offers straightforward open-plan living with a fitted kitchen and separate shower room. The property sits in a mid-20th century red-brick development with communal lawns, bike storage and secure entry — useful city-centre amenity for tenants or a personal city base.
This flat is best suited to a cash buyer or an investor prepared for a short lease. The lease has approximately 54 years remaining and mortgage lenders may refuse to lend; potential purchasers should check finance options before committing. Ground rent is low at £25 pa, but the short lease is a material constraint that limits traditional mortgage finance and will affect value and resale.
Internally the space is compact (approx 24 sq m / 262 sq ft) and would benefit from internal modernisation to maximise rental appeal or long-term value. The building exterior appears structurally sound but dated; opportunities exist to add value through refurbishment of the flat and improved communal maintenance. Note the local area records very high crime levels — factor this into rental yields, insurance and management plans.
Location is the apartment’s primary strength: immediate access to shops, eateries, cultural venues, transport links and the university population. For a cash investor targeting short-term buy-to-let income or a city pied-à-terre, this offers a low-entry-price central option. For buyers needing mortgage finance, limited lease length makes this unsuitable unless lease extension or alternative funding is arranged.
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