# REFURBISHED FIRST FLOOR OFFICE (NR1 1NJ) ## Property Details | Key | Value | |-----|-------| | Address | 78-80 Prince Of Wales Road, Norwich, Norfolk, NR1 1NJ | | Price | 1000 | ## Description Car parking for two vehicles Comprehensively refurbished throughout Well proportioned accommodation with original features Low business rates REFURBISHED FIRST FLOOR OFFICE **Detailed Description** The property comprises a newly refurbished mid-terrace period office on Prince of Wales Road, with dedicated ground floor access and stairs, leading to the first-floor office accommodation. The first-floor benefits from attractive period features, to include ceiling roses and cornice work together with original fireplaces and is undergoing a comprehensive refurbishment. The property benefits from shared kitchen and WC facilities which have been comprehensively refurbished, together with two carparking spaces to the rear. **Location** The property is located on Prince of Wales Road, a primary route between Norwich Railway Station and Norwich City Centre. It is a lively location with a variety of office occupiers as well as shops, bars and restaurants. Other nearby occupiers include Spencer Ward, Straightforward Recruitment, Gilson Bailey, Tesco Express and Fisher & Co. Communal kitchen and WC facilities (newly refurbished) Well located between Norwich Railway Station & Norwich City Centre ## Property Photos - ![Photo 8](/listings/photos/169259777/845880) - Photo 8 - ![Photo 13](/listings/photos/169259777/845883) - Photo 13 - ![Photo 16](/listings/photos/169259777/845884) - Photo 16 - ![Photo 10](/listings/photos/169259777/845885) - Photo 10 - ![Photo 11](/listings/photos/169259777/845890) - Photo 11 - ![Photo 9](/listings/photos/169259777/845892) - Photo 9 - ![Photo 12](/listings/photos/169259777/845896) - Photo 12 - ![Photo 14](/listings/photos/169259777/845898) - Photo 14 - ![Photo 15](/listings/photos/169259777/845899) - Photo 15 - ![Photo 8](/listings/photos/169259777/1112657) - Photo 8 - ![Photo 13](/listings/photos/169259777/1112658) - Photo 13 - ![Photo 16](/listings/photos/169259777/1112659) - Photo 16 - ![Photo 10](/listings/photos/169259777/1112660) - Photo 10 - ![Photo 11](/listings/photos/169259777/1112661) - Photo 11 - ![Photo 9](/listings/photos/169259777/1112662) - Photo 9 - ![Photo 12](/listings/photos/169259777/1112663) - Photo 12 - ![Photo 14](/listings/photos/169259777/1112664) - Photo 14 - ![Photo 15](/listings/photos/169259777/1112665) - Photo 15 ## Sold Comparables *Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.* | Address | Price | Date | Type | |---------|-------|------|------| | 17 CATHEDRAL STREET, NORWICH, NORFOLK, NR1 1LU | £215,000 | 31/03/2022 | Other | | 116 PRINCE OF WALES ROAD, NORWICH, NORFOLK, NR1 1NS | £7,700,000 | 17/12/2021 | Other | **Area average:** £3,957,500 (2 sales) ## Price vs local average *Outcode + property type (HousePrices, last 2 years).* - **Local average:** £277,000 (3 Other, NR1, 2024–2026) - **Deviation:** -99.6% ## Rental Range *ONS Price Index of Private Rents (Norwich). Low / Realistic / Optimistic = conservative / average / best case.* - **Low:** £1,037/mo - **Realistic:** £1,152/mo - **Optimistic:** £1,267/mo ## LHA (Local Housing Allowance) *VOA 30th percentile rent floor for Central Norfolk & Norwich (Apr 2025 – Mar 2026).* ## Rental Comparables *Residential lets from OpenRent and Rightmove for the area. Bedroom counts vary — use the Beds column to compare like-for-like lets. Student lets are excluded.* | Title | Rent | Beds | Distance | As seen on | |------|------|------|------|------| | 1 Bed Flat, St. Faiths Lane, NR1 | £1,300/mo | 1 | 0.01 miles | OpenRent | | 4 Bed Terraced House, Cathedral St, NR1 | £675/mo | 4 | 0.07 miles | OpenRent | | 2 Bed End Terrace, Mountergate, NR1 | £1,500/mo | 2 | 0.11 miles | OpenRent | | 1 Bed Flat, Upper King Street, NR3 | £1,200/mo | 1 | 0.21 miles | OpenRent | | 2 Bed Flat, Scoles Green, NR1 | £1,095/mo | 2 | 0.25 miles | OpenRent | | 2 Bed Flat, Regency Court, NR1 | £995/mo | 2 | 0.25 miles | OpenRent | | Studio Flat, Wensum Street, NR3 | £995/mo | 1 | 0.37 miles | OpenRent | | 1 Bed Flat, Thorpe Road, NR1 | £1,000/mo | 1 | 0.5 miles | OpenRent | | 2 Bed Flat, Barrack St, NR3 | £1,000/mo | 2 | 0.55 miles | OpenRent | | 2 Bed Flat, Mousehold St, NR3 | £700/mo | 2 | 0.57 miles | OpenRent | | 6 Bed Terraced House, Swift Court, NR3 | £4,200/mo | 6 | 0.68 miles | OpenRent | **Average rent: £1,333/mo (11 listings)** ## 1% Rule - **Rent ratio:** 100% (strong) - **Max investor price (0.8%):** £125,000 - **Target investor price (1%):** £100,000 *Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.* ## Rent-driven metrics *Based on OpenRent comparables (median £1,000/mo).* - **Gross yield:** 1200% - **Cost-to-rent:** 0.1× - **Monthly cashflow:** £871/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term) - **Cash-on-cash ROI:** 3604.4% *Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).* ## Capital growth trend *Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.* - **5y growth:** -87.3% - **10y growth:** -19.7% ## House Price Index (HM Land Registry) *Official index for Norwich; All dwelling types series; as of April 2026.* - **1y growth (index):** 2.4% - **5y growth (index):** 11.6% - **10y growth (index):** 29.9% ## Flood risk - **Zone:** 1 - **Risk:** Low - **Source:** Job (default Low) [Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)