This is a fully let investment in a highly prominent central location in Norwich offering an estimated net internal area of over 6,400 sq ft.
DESCRIPTION
Set over three floors, Clarendon House is an impressive period property situated on the well-known and well-regarded Golden Triangle of Norwich. A handsome detached house offering a wealth of elegant, attractive accommodation with various splendid character details including high ceilings, large sash windows welcoming natural light, and elegant curving staircases.
The property offers an extensive parking area to the front which is laid to gravel and would comfortably fit several vehicles. The frontage is surrounded by mature borders and established hedgerows. To the rear there is a pedestrian access alongside a spacious garden laid to turf with a path to the rear entrance of the property. This area also includes three double doored brick built storage sheds, accessed from Clarendon Road.
The property has gas central heating with each apartment separately metered. Access to apartments three, four, five and six is from the front entrance door, while a side entrance gives access to apartments one, seven and eight. Each apartment is self-contained and accessed via communal areas/hallways. Apartments range from one to three bedrooms and from 505 sq ft to 925 sq ft.
LOCATION
Clarendon House is located on Unthank Road in the heart of the Golden Triangle arguably one of the most desirable and sought after locations in Norwich. Clarendon House enjoys an enviable location within walking distance of the centre of this picturesque and historic cathedral city. Norwich is the regional Capital of East Anglia and a hub for the local road and rail networks. Unthank Road enjoys ideal proximity to local employment opportunities as well as excellent access to the University of East Anglia (UEA), Norfolk and Norwich Hospital (NnN) and the Norwich Research Park.
Norwich city centre is a short walk and is home to a wealth of leisure and cultural attractions. Norwich’s prime shopping area including Gentleman’s Walk, The Royal Arcade, Castle Quarter and Chantry Place which are all easily accessible. In addition, the property is located within walking distance of the Riverside development with a Pure Gym, Odeon cinema, bars, restaurants and Riverside Retail Park situated around the River Wensum and Norwich City Football Ground and the train station.
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THE OFFER
Our client is seeking unconditional offers in the region of £1.5 million for the freehold interest for Clarendon House, subject to contract.
INVESTMENT INFORMATION
Based on the projected income for 2025 this reflects a gross initial yield of 5.48%. This reflects a capital value of £187,500 per apartment.
The property is fully let and is producing a gross income of £82,200 per annum.
TENURE
Freehold
LOCAL AUTHORITY
Norwich City Council
SERVICES
We understand that mains electricity, gas, water and sewerage are connected to the property.
AML/KYC
Prospective purchasers will be asked to produce identification of the intended Purchaser and other documentation in order to support any conditional offers submitted to the vendors. Bidwells LLP accepts no liability of any type arising from your delay or other lack of co-operation.
For further details, to arrange a viewing or to request a copy of the property brochure please contact Bidwells.
EPC
These are available on request for each individual apartment.
AGENTS NOTE
All information provided is subject to change and has been sourced from the vendor. We advise independent verification of all details independently to ensure accuracy and up-to-date information. All room measurements and floorplans are also subject to own independent measurement.
