NICHOLAS MEWS, NORWICH – Guide Price £1,999,999

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Sold STC | 42 Bedrooms | Bathrooms | Reception Rooms | Student Accommodation

  • PURPOSE BUILT STUDENT ACCOMMODATION
  • LOCATED IN CLOSE PROXIMITY TO THE UNIVERSITY OF EAST ANGLIA, NORWICH UNIVERSITY OF THE ARTS AND THE CITY CENTRE
  • COMPRISING SEVEN INDIVIDUAL SIX BEDROOM HOUSES WITH COMMUNAL GARDENS
  • AMPLE OFF ROAD PARKING
  • GAS FIRED CENTRAL HEATING
  • DOUBLE GLAZING
  • PRODUCING A GROSS YIELD OF 8.6% WHEN FULLY LET

PURPOSE BUILT STUDENT ACCOMMODATION LOCATED IN CLOSE PROXIMITY TO THE UNIVERSITY OF EAST ANGLIA, NORWICH UNIVERSITY OF THE ARTS AND THE CITY CENTRE COMPRISING SEVEN INDIVIDUAL SIX BEDROOM HOUSES WITH COMMUNAL GARDENS, AMPLE OFF ROAD PARKING, GAS FIRED CENTRAL HEATING AND DOUBLE GLAZING PRODUCING A GROSS YIELD OF 8.6% WHEN FULLY LET

Location

The property is located within walking distance of the centre of Norwich, the cathedral city and regional centre of East Anglia. The city boasts a lively night life, cultural and social activities as well as good shopping and an historic centre. State, faith and independent schools for all age groups, comprehensive shopping facilities, public houses, restaurants, theatres, cinemas and parks are all within easy reach. The University of East Anglia and the Norfolk and Norwich University Hospital are also close by. From Norwich there is a half hourly main line rail service to London Liverpool Street with a fastest journey time of one hour and forty minutes.

Accommodation

The property was purpose built as a student accommodation about 20 years ago and comprises of seven individual houses each with entrance hall, six student bedrooms, two bathrooms and a communal kitchen and living room. Five of the houses are arranged over two storeys and two of the houses are arranged over three storeys. The two three storey houses are registered HMO’s. Each house has double glazing and gas fired central heating and complies with the latest regulations. The property has been run for several years as a very successful investment business and has been well maintained during that period.

Rental income

Each room is let at £380 per calendar month. Some rooms are let for eleven months of the year and some for twelve months. The rent includes all utilities and broadband. Our client will be selling the property as part of a limited company which will greatly reduce the stamp duty liability for the buyer.

Outside

The property is approached via a long driveway off Nelson Street and has communal gardens to the rear, ample off road parking and bin storage to the front.

Directions

Leave Norwich city centre on Dereham Road, turn right into Nelson Street and then take the second turn on the left into Nicholas Mews where the property can be found.

 Local Authority

Norwich City Council

Services

We understand that mains electricity, gas, water and sewerage are connected to the property.

Viewing

Strictly through Vendor’s sole agents: Hadley Taylor 01603 250 248



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