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Norwich – Freehold Residential & Retail Portfolio Investment

For sale: POA|32,404 Sq Ft|Residential, Retail, Residential Land, Mixed Use, Other Property Types & Opportunities

Property details

FOR SALEPOA
SIZE32,404 Sq Ft
ADDRESSFoundry Court and Watermans Yard, Norwich, Norfolk
TYPEResidential, Retail, Residential Land, Mixed Use, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON25th May 2021

Description

Investment Consideration:
Rental Income: £436,590 p.a.
VAT is NOT applicable to this property
The portfolio comprises 48 apartments, 26 garages, 14 off-street car parking spaces and three retail units across two properties
Foundry Court comprises 24 x Self-Contained Apartments, 3 x Retail Shops, 11 x Garages and 10 x Car Parking Spaces.
Watermans Yard comprises 24 x Self-Contained Apartments, 15 x Garages and 4 x Car Parking Spaces.
Total gross internal area: 3,011 sq m (32,404 sq ft)
The portfolio has been consistently 100% occupied.
All residential units have gas central heating and UPVC double glazed windows
Both properties are centrally located in Norwich city centre and are within walking distance to all amenities.

Property Description - Watermans Yard, Westwick Street, Norwich NR2 4SD
The property comprises residential block build in 2006 and consist of 24 self-contained apartments (23 x 2-Bed 1 x 3-Bed), 15 Garages and 4 Parking Spaces. Majority of the apartments have French doors to Juliet balconies with some of the apartments benefiting from large wraparound balconies overlooking the River Wensum. Some of the larger apartments also have en-suites or separates cloakrooms. The flats have gas fired central heating and UPVC double glazed windows. Nineteen residential units benefit from a garage or allocated parking.

The property provides the following accommodation and dimensions:
Ground Floor: 3 x 2-Bedroom Apartments
Ground/First Floor: 2 x 2-Bedroom Apartments
First Floor: 7 x 2-Bedroom Apartments
Second Floor: 7 x 2-Bedroom Apartments
Second/Third Floor: 1 x 2-Bedroom Apartment
Third Floor: 3 x 2-Bedroom Apartments
Third/Fourth Floor: 1 x 3-Bedroom Apartment
Gross Internal Area: 1,520 sq m (16,345 sq ft)

Property Description - Foundry Court, Prince of Wales Road, Norwich NR1 1ND
The property comprises residential block build in 2004 and consist of 24 self-contained apartments (3 x 1-Bed, 20 x 2-Bed and 1 x 3-Bed), 3 x Retail Shops, 11 Garages and 10 Parking Spaces. Majority of the apartments have galley kitchens, separate living rooms and a bathroom with shower/WC. The flats have gas fired central heating and UPVC double glazed windows. Seventeen residential units benefit from a garage or allocated parking.

The property provides the following accommodation and dimensions:
Ground Floor: 3 x Retail Shops
Ground/First Floor: 6 x 2-Bedroom Apartments
First Floor: 2 x 2-Bedroom and 1 x 1-Bedroom Apartments
Second Floor: 6 x 2-Bedroom, 1 x 1-Bed and 1 x 3-Bed Apartments
Third Floor: 6 x 2-Bedroom and 1 x 1-Bedroom Apartments
Gross Internal Area: 1,491 sq m (16,059 sq ft)

Location:
The city of Norwich is located approximately 60 miles north east of Cambridge and 45 miles north of Ipswich. Norwich International Airport is located approximately 4 miles north of the City centre, the University of East Anglia is situated circa 3 miles west of the City centre and the Norfolk Broads roughly begins 1.5 miles east of the City centre. The major roads serving Norwich City are the A47, which passes the city to the south and provides access to Great Yarmouth to the east and Kings Lynn to the west and the A11 which provides access to Cambridge, the A14 and M11 to the south west. Work has recently been completed on the A11 between Thetford and Barton Mills providing a full dual carriageway from Norwich to the A14. Watermans Yard is situated on Westwick Street, which is approximately 1.0 mile to the north west of Norwich railway station and c. 0.5 miles to the north west of the main shopping area of the city centre. Foundry Court is situated on the Prince of Wales Road, which is one of the main links from the city centre to Norwich railway station. The station is located approximately 0.1 miles to the east and provides direct service to London Liverpool Street in as little as one hour 47 minutes, every half an hour.


Location

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Location: Foundry Court and Watermans Yard, Norwich, Norfolk

Norwich (0.5 miles)

Salhouse (4.4 miles)

Brundall Gardens (4.4 miles)

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