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To Let

The District, 78-80 Unthank Road, Norwich NR2 2RW

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For Sale

The District, 78-80 Unthank Road, Norwich NR2 2RW

Freehold

£2,400,000 / NIY 6.53%

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Freehold Fully Let Co-Living Investment

Property specification

  • Highly prominent fully let co-living investment in a prime position within Norwich’s trendiest and most sought after neighbourhood
  • Consisting of 26 ensuite rooms with extensive communal lounge, kitchens, basement gym and cinema room
  • Four car parking spaces producing a potential additional income of £4,800 pa
  • Gross internal area of c.7,416 sq ft
  • Current gross rent passing £209,160
  • Offers in excess of £2,400,000 for the freehold interest, subject to contract and exclusive of VAT. Based on the current projected annual income profile this would provide a net initial yield of 6.53% (assuming purchaser's costs of 6.8%) or 6.72% with the additional car parking income (assuming purchaser’s costs of 6.8%) and reflect a capital value of £323 per sq ft of 7,416 GIA

Location

The District, Unthank Road is perfectly located in the Norwich Golden Triangle between the city centre to the east and the University of East Anglia (UEA) to the west

Location

The District, Unthank Road is perfectly located in the Norwich Golden Triangle between the city centre to the east and the University of East Anglia (UEA) to the west

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