Norwich property portfolio on market for offers over £5m

A property portfolio that includes several residential and commercial buildings has been listed for sale in the heart of Norwich.

The properties are situated in the NR1 and NR2 postcodes within the city’s ‘Golden Triangle’ – with agents inviting offers in excess of £5m.

Listed for sale though the development team at Savills in Norwich, the sale includes 10 terraced and semi-detached residential properties, a block of six residential flats and two commercial units with flats above.

The buildings all have tenants in situ and are said to generate an income of approximately £360,000 per year.

The 10 residential properties range in size from three to five bedrooms and include houses in Highland Road, Muriel Road, Portersfield Road, Wellington Road, Whitehall Road, Wood Street, Bury Street, Caernarvon Road and Denbigh Road.

The portfolio also includes the sale of Chapelfield Court, comprising a block of six flats in Cleveland Road, alongside two commercial units in Unthank Road occupied by Blue Joanna bar and kitchen and Zany boutique and hair salon.

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Property agent Max Barnes, director in the development team at Savills in Norwich, said: “With its green spaces, sense of strong community and easy access to both the city centre and the university, the Golden Triangle remains one of Norwich’s most desirable and characterful neighbourhoods.

“Each of the residential and commercial units have tenants in situ – generating an approximate income of £360,000 per year – while there is also scope for further development, including plans to extend Chapelfield Court.

“Our client is inviting offers for the freehold of the entire portfolio via a share-sale of the holding company, representing an exciting and rare opportunity for an investor.”

Image: Savills