Summary - The Old Rectory The Old Rectory Mill Hill Road, Norwich NR2 3DP
4 bed 4 bath Block of Apartments
Compact, renovated one‑bed flats near Unthank Road and UEA — ready for immediate rental income.
- Four fully refurbished one‑bed flats, all self‑contained
- Newly renovated; gas central heating and double glazing
- Total internal area approx. 1,042 sqft (small block)
- Current yield range 5.29%–5.38% based on asking price
- Rents vary: one let at £695pcm, others estimated £825–£975pcm
- Freehold title; straightforward ownership and management
- On‑street permit parking only; average local crime level
A compact freehold investment in Norwich’s Golden Triangle, this recently refurbished block comprises four self-contained one‑bed flats, each with a double bedroom, kitchen and shower room. The conversion retains period character on a Victorian red‑brick façade while delivering contemporary interiors, gas central heating and double glazing throughout.
Current income produces a net yield in the mid‑5% range (5.29%–5.38%), with individual rents sitting between an achieved £695pcm and estimated market levels of £825–£975pcm. The location close to Unthank Road, frequent bus routes, and the University of East Anglia supports steady demand from professionals and students.
The building’s modest total floor area (approx. 1,042 sqft) means limited scale and lower headline income than larger blocks, but lower acquisition cost and straightforward management. Parking is by street permit only, and the area records average crime levels—both practical considerations for tenant profiling and management.
Overall, this is a turn‑key, small‑scale rental asset for an investor seeking an entry or add‑on purchase in an affluent, well‑connected neighbourhood. The flats are newly renovated and ready to rent, though one apartment currently lets below the higher market estimates, so some re‑letting or rent review upside exists.
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