Sold STC Flat

51 SPRINGBANK

NORWICH, NORFOLK NR1 2LH

2 beds 2 baths 71 m² Listed 24 Feb 2025 (-523d)

£140,000

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# 2 bedroom apartment for sale (NR1 2LH)

## Property Details

| Key | Value |
|-----|-------|
| Address | 51 SPRINGBANK, NORWICH, NORFOLK NR1 2LH |
| Price | £140,000 |
| Bedrooms | 2 |
| Bathrooms | 2 |
| Council tax | A |
| Last sold | £135,000 Feb 2026 |

## EPC Rating & Upgrade Cost

- **Current rating:** C
- **Potential rating:** C
- **Expiry date:** 30/06/2034
- **Current heating cost:** £814/year
- **Est. upgrade cost to C:** £6,000

### Recommendations
- B (£500 - £1,500)
- W2 (£4,000 - £6,000)

[View full EPC on gov.uk](https://find-energy-certificate.service.gov.uk/energy-certificate/0492-3039-6203-8524-5204)

## Description

**GROUND FLOOR FLAT WITH A BALCONY** Gilson Bailey are delighted to offer this WELL PRESENTED, TWO BEDOOM, GROUND FLOOR FLAT situated to the south of Norwich close by to the City Centre. Accommodation comprising entrance hall, lounge/diner with a balcony, kitchen, TWO BEDROOMS, bathroom and WC. Outside there are communal gardens and on street parking available. The flat benefits from double glazing, gas heating and is in excellent condition throughout. The property would make a fantastic first time purchase or buy-to-let investment so be quick to book a viewing.

**Location** - Lakenham can be found to the south of the City centre close by to many local amenities to include schooling, popular shops, pubs and restaurants with ease of access to the Norwich Ring Road, Norwich train station, Norwich bus station and the A47 southern bypass.

**Accommodation Comprises** - Secure intercom entry and front door to:

**Entrance Hall** - Door to lounge.

**Lounge/Diner** - 7.15 x 3.10 (23'5" x 10'2") - Two double glazed windows, two radiators, door to balcony.

**Kitchen** - 3.82 x 2.61 (12'6" x 8'6") - Fitted wall and base units with worktops over, sink and drainer, space for cooker, fridge/freezer, washing machine and tumble dryer, double glazed window, radiator, storage cupboard.

**Bedroom One** - 4.08 x 3.10 (13'4" x 10'2") - Double glazed window, radiator, built in wardrobe.

**Bedroom Two** - 3.64 x 2.62 (11'11" x 8'7") - Double glazed window, radiator, storage cupboard.

**Bathroom** - 1.67 x 1.58 (5'5" x 5'2") - Panelled bath with shower over, hand wash basin, radiator, frosted double glazed window.

**Wc** - Low level WC, frosted double glazed window.

**Outside** - Communal lawned gardens and on street parking available.

**Local Authority** - Norwich City Council, Tax Band A.

**Tenure** - Leasehold - Term 125 years from 16 November 1987. Please note ground rent is £10 per annum and service/maintenance charges are £487.95pa. For further information, please contact the office.

**Utilities** - Fibre to the cabinet broadband available.

Mains water and electric.

## Property Photos

- ![IMG_8544-2.jpg](/listings/photos/158606831/1600164) - IMG_8544-2.jpg
- ![IMG_8522-2.jpg](/listings/photos/158606831/1600165) - IMG_8522-2.jpg
- ![IMG_8528-2.jpg](/listings/photos/158606831/1600166) - IMG_8528-2.jpg
- ![IMG_8540-2.jpg](/listings/photos/158606831/1600167) - IMG_8540-2.jpg
- ![IMG_8525-2.jpg](/listings/photos/158606831/1600168) - IMG_8525-2.jpg
- ![IMG_8535-2.jpg](/listings/photos/158606831/1600169) - IMG_8535-2.jpg
- ![IMG_8532-2.jpg](/listings/photos/158606831/1600170) - IMG_8532-2.jpg
- ![IMG_8537-2.jpg](/listings/photos/158606831/1600171) - IMG_8537-2.jpg
- ![IMG_8541-2-2.jpg](/listings/photos/158606831/1600172) - IMG_8541-2-2.jpg

## Floorplans

- ![51springbanknr12lh-High.jpg](/listings/photos/158606831/1600173) - 51springbanknr12lh-High.jpg

## EPC Graphs

- ![EE Rating](/listings/photos/158606831/1600174) - EE Rating

## FENSA Certificates

This property has 1 FENSA certificate(s) on record.

### FENSA Certificate #7522248
- **Address:** 51 Springbank, NORWICH, NR1 2LH
- **Certificate Issued:** 21/07/2010
- **Work Completed:** 07/07/2010
- **Items:** 7 window(s), 1 door(s)

## Sales History

*Recorded sales for this property. Data from Land Registry Price Paid.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 51 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH | £135,000 | 24/02/2026 | Flat |
| 51 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH | £74,000 | 29/07/2011 | Flat |
| 51 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH | £58,000 | 08/03/2010 | Flat |
| 51 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH | £45,000 | 03/04/2009 | Flat |

## Sold Comparables

*Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 177 SPRINGBANK, NORWICH, NORFOLK, NR1 2LB | £120,000 | 08/08/2025 | Flat |
| 9 LONGMEAD, NORWICH, NORFOLK, NR1 2EL | £160,000 | 16/02/2023 | Flat |
| 4 LONGMEAD, NORWICH, NORFOLK, NR1 2EL | £162,500 | 02/12/2022 | Flat |
| 45 SUNNY HILL, NORWICH, NORFOLK, NR1 2ER | £147,000 | 16/09/2022 | Flat |
| [Same street] 83 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH | £140,000 | 26/08/2022 | Flat |
| 17 LATIMER ROAD, NORWICH, NORFOLK, NR1 2RR | £157,500 | 10/06/2022 | Flat |
| [Same street] 57 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH | £132,500 | 19/04/2022 | Flat |
| 37 LONGMEAD, NORWICH, NORFOLK, NR1 2EL | £160,000 | 07/02/2022 | Flat |
| 16 SUNCROFT, LONG JOHN HILL, NORWICH, NORFOLK, NR1 2EP | £115,000 | 05/01/2022 | Flat |
| 137 SPRINGBANK, NORWICH, NORFOLK, NR1 2LB | £120,000 | 01/12/2021 | Flat |
| 17 RANDOLF ROAD, NORWICH, NORFOLK, NR1 2RY | £150,000 | 09/11/2021 | Flat |
| [Same street] 127 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH | £125,000 | 07/10/2021 | Flat |
| 34 SPRINGBANK, NORWICH, NORFOLK, NR1 2LJ | £120,000 | 17/09/2021 | Flat |

**Street average:** £132,500 (3 sales)
**Area average:** £141,200 (10 sales)

## Price vs local average

*Outcode + property type (HousePrices, last 2 years).*

- **Local average:** £155,527 (53 Flat, NR1, 2024–2026)
- **Deviation:** -10%

## Rental Range

*ONS Price Index of Private Rents (Norwich). Low / Realistic / Optimistic = conservative / average / best case.*

- **Low:** £1,034/mo
- **Realistic:** £1,149/mo
- **Optimistic:** £1,264/mo

## LHA (Local Housing Allowance)

*VOA 30th percentile rent floor for Central Norfolk & Norwich (Apr 2025 – Mar 2026).*

- **LHA floor (this property size):** £693/mo

## Rental Comparables

*Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.*

| Title | Rent | Beds | Distance | As seen on |
|------|------|------|------|------|
| 2 Bed Flat, King Street, NR1 | £1,395/mo | 2 | 0.76 miles | OpenRent |
| 2 Bed Flat, Gavin Bank, NR1 | £1,450/mo | 2 | 0.81 miles | OpenRent |
| 2 Bed Flat, Geoffrey Watling Way, NR1 | £1,350/mo | 2 | 0.86 miles | OpenRent |
| 2 Bed Flat, Grosvenor House, NR1 | £1,375/mo | 2 | 1.19 miles | OpenRent |
| 2 Bed Penthouse, Grosvenor House, NR1 | £1,600/mo | 2 | 1.19 miles | OpenRent |

**Average rent: £1,434/mo (5 listings)**

## 1% Rule

- **Rent ratio:** 1% (strong)
- **Max investor price (0.8%):** £174,375
- **Target investor price (1%):** £139,500

*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 £1,395/mo).*

- **Gross yield:** 12%
- **Cost-to-rent:** 8.4×
- **Monthly cashflow:** £679/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 20.1%

*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).*

## Price per Square Metre

- **£/m²:** £1,972/m²

## Capital growth trend

*Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.*

- **5y growth:** -10.6%
- **10y growth:** -3.8%

## House Price Index (HM Land Registry)

*Official index for Norwich; Flats and maisonettes series; as of April 2026.*

- **1y growth (index):** -1.4%
- **5y growth (index):** 1.7%
- **10y growth (index):** 16.3%

## 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)

IMG_8544-2.jpg IMG_8522-2.jpg IMG_8528-2.jpg IMG_8540-2.jpg IMG_8525-2.jpg IMG_8535-2.jpg IMG_8532-2.jpg IMG_8537-2.jpg IMG_8541-2-2.jpg

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Property details

Tenure

LEASEHOLD

Floor area

71 m²

Council tax band

EPC rating

Last sold

£135,000 Feb 2026

Price per m²

£1,972/m²

Local average

£155,527 (-10%)

Deprivation

Decile 2 (3,420 of 33,755)

Street crime

238 incidents within 1 mile (May 2026)

Key features

GROUND FLOOR FLAT
TWO BEDROOMS
BALCONY
EXCELLENT FIRST TIME PURCHASE
CLOSE TO THE CITY CENTRE

Description

GROUND FLOOR FLAT WITH A BALCONY Gilson Bailey are delighted to offer this WELL PRESENTED, TWO BEDOOM, GROUND FLOOR FLAT situated to the south of Norwich close by to the City Centre. Accommodation comprising entrance hall, lounge/diner with a balcony, kitchen, TWO BEDROOMS, bathroom and WC. Outside there are communal gardens and on street parking available. The flat benefits from double glazing, gas heating and is in excellent condition throughout. The property would make a fantastic first time purchase or buy-to-let investment so be quick to book a viewing.

Location - Lakenham can be found to the south of the City centre close by to many local amenities to include schooling, popular shops, pubs and restaurants with ease of access to the Norwich Ring Road, Norwich train station, Norwich bus station and the A47 southern bypass.

Accommodation Comprises - Secure intercom entry and front door to:

Entrance Hall - Door to lounge.

Lounge/Diner - 7.15 x 3.10 (23'5" x 10'2") - Two double glazed windows, two radiators, door to balcony.

Kitchen - 3.82 x 2.61 (12'6" x 8'6") - Fitted wall and base units with worktops over, sink and drainer, space for cooker, fridge/freezer, washing machine and tumble dryer, double glazed window, radiator, storage cupboard.

Bedroom One - 4.08 x 3.10 (13'4" x 10'2") - Double glazed window, radiator, built in wardrobe.

Bedroom Two - 3.64 x 2.62 (11'11" x 8'7") - Double glazed window, radiator, storage cupboard.

Bathroom - 1.67 x 1.58 (5'5" x 5'2") - Panelled bath with shower over, hand wash basin, radiator, frosted double glazed window.

Wc - Low level WC, frosted double glazed window.

Outside - Communal lawned gardens and on street parking available.

Local Authority - Norwich City Council, Tax Band A.

Tenure - Leasehold - Term 125 years from 16 November 1987. Please note ground rent is £10 per annum and service/maintenance charges are £487.95pa. For further information, please contact the office.

Utilities - Fibre to the cabinet broadband available.
Mains water and electric.

Listed by

Norwich

Gilson Bailey

Reference: 158606831

EPC Rating & Upgrade Cost

Current rating: C

Potential rating: C

Inspection date: 01/07/2024

Expiry date: 30/06/2034

Current heating cost: £814/year

Potential heating cost: £547/year

Est. upgrade cost to C: £6,000

Recommendations

Cavity wall insulation (£500 - £1,500)
Floor insulation (solid floor) (£4,000 - £6,000)

View full EPC on gov.uk

Flood risk

Zone: 1

Risk: Low

Job (default Low)

Floorplans

51springbanknr12lh-High.jpg

EPC Graphs

EE Rating

FENSA Certificates

This property has 1 FENSA certificate(s) on record, indicating window/door installations by FENSA-approved installers.

FENSA Certificate #7522248

Property Details

Street: 51 Springbank

Town: NORWICH

Postcode: NR1 2LH

Installation Details

Items: 7 windows and 1 door

Certificate Issued: 21/07/2010

Work Completed: 07/07/2010

This certificate data was retrieved from FENSA's database

What is FENSA? FENSA (Fenestration Self-Assessment Scheme) is a government-authorised scheme that monitors building regulation compliance for replacement windows and doors. Certificates indicate that work was completed by FENSA-approved installers.

Price history

200% since 2009

Event	Date	Price	% change
Sold	24/02/2026 (5 months ago)	£135,000	+82.4%
Sold	29/07/2011 (15 years ago)	£74,000	+27.6%
Sold	08/03/2010 (16 years ago)	£58,000	+28.9%
Sold	03/04/2009 (17 years ago)	£45,000	—

Source: HM Land Registry Price Paid Data. Crown copyright.

Sold Comparables

Same street and nearby sales within 0.25 miles (last 5 years). Data from Land Registry Price Paid.

Address	Price	Date	Type
177 SPRINGBANK, NORWICH, NORFOLK, NR1 2LB	£120,000	08/08/2025	Flat
9 LONGMEAD, NORWICH, NORFOLK, NR1 2EL	£160,000	16/02/2023	Flat
4 LONGMEAD, NORWICH, NORFOLK, NR1 2EL	£162,500	02/12/2022	Flat
45 SUNNY HILL, NORWICH, NORFOLK, NR1 2ER	£147,000	16/09/2022	Flat
Same street 83 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH	£140,000	26/08/2022	Flat
17 LATIMER ROAD, NORWICH, NORFOLK, NR1 2RR	£157,500	10/06/2022	Flat
Same street 57 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH	£132,500	19/04/2022	Flat
37 LONGMEAD, NORWICH, NORFOLK, NR1 2EL	£160,000	07/02/2022	Flat
16 SUNCROFT, LONG JOHN HILL, NORWICH, NORFOLK, NR1 2EP	£115,000	05/01/2022	Flat
137 SPRINGBANK, NORWICH, NORFOLK, NR1 2LB	£120,000	01/12/2021	Flat
17 RANDOLF ROAD, NORWICH, NORFOLK, NR1 2RY	£150,000	09/11/2021	Flat
Same street 127 SPRINGBANK, NORWICH, NORFOLK, NR1 2LH	£125,000	07/10/2021	Flat
34 SPRINGBANK, NORWICH, NORFOLK, NR1 2LJ	£120,000	17/09/2021	Flat

Street average: £132,500 (3 sales)

Area average: £141,200 (10 sales)

Capital growth trend

Land Registry outcode average: last 12 months vs 5y and 10y ago (from sold prices).

5y growth -10.6%

10y growth -3.8%

House Price Index (HM Land Registry — official index, not sold-price averages): Norwich. Series: Flats and maisonettes. As of April 2026.

1y (index) -1.4%

5y (index) 1.7%

10y (index) 16.3%

Company ownership

Registered legal owner is a company.

Company-owned (UK company)

Company: THE CITY COUNCIL OF NORWICH

Rental Range

Estimated market rent for Norwich. Low = conservative, Realistic = average, Optimistic = best case.

Low £1,034/mo

Realistic £1,149/mo

Optimistic £1,264/mo

Based on Local Authority from postcode lookup → Norwich.

LHA (30th percentile) floor for Central Norfolk & Norwich: £693/mo (Apr 2025 – Mar 2026)

Location

Map view View on Google Maps View on OpenStreetMap Street View NR1 2LH

Nearby

Nearest stations, universities and amenities (distance from property).

Type	Name	Distance
Bus stop	No 7, adj	0.1 miles
Bus stop	No 7, opp	0.1 miles
Shop	Unknown	0.4 miles
Shop	Point Roofing	0.4 miles
Train station	Norwich	1.1 miles
University	Broadcast House	1.5 miles
University	University of East Anglia	2.7 miles
Hospital	Norfolk and Norwich University Hospital:Emergency Department	3.2 miles
Train station	Brundall Gardens	5.1 miles

Street-level crime

Category	Count
Violence and sexual offences	74
Shoplifting	53
Anti-social behaviour	31
Criminal damage and arson	25
Public order	23
Other theft	16
Bicycle theft	3
Drugs	3
Other crime	3
Vehicle crime	3
Robbery	2
Burglary	1
Theft from the person	1
Total incidents	238

Within 1 mile during May 2026. Source: data.police.uk (England & Wales).

Schools nearby

Nearest open schools with Ofsted ratings (England). Closed schools are not shown. Data from Get Information about Schools and Ofsted.

Name	Type	Distance	Ofsted
Edith Cavell Academy and Nursery	Primary	0.2 miles	Good — 7 Jun 2017
The Wherry School	Other	0.3 miles	Good — 20 Jul 2022
Lakenham Primary School	Primary	0.3 miles	Good — 1 Jul 2024
Norwich Steiner School	Other	0.4 miles	Good — 18 Jan 2024
Hewett Academy	Secondary	0.4 miles	Good — 23 Nov 2023

Rental Comparables

Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.

Title	Rent	Beds	Distance	As seen on
2 Bed Flat, King Street, NR1	£1,395/mo	2	0.76 miles	OpenRent
2 Bed Flat, Gavin Bank, NR1	£1,450/mo	2	0.81 miles	OpenRent
2 Bed Flat, Geoffrey Watling Way, NR1	£1,350/mo	2	0.86 miles	OpenRent
2 Bed Flat, Grosvenor House, NR1	£1,375/mo	2	1.19 miles	OpenRent
2 Bed Penthouse, Grosvenor House, NR1	£1,600/mo	2	1.19 miles	OpenRent

Average rent: £1,434/mo (5 listings)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 1%

Max investor price (0.8%) £174,375

Target investor price (1%) £139,500

Gross yield 12%

Cost-to-rent ratio 8.4×

Monthly cashflow £679/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term

Cash-on-cash ROI 20.1%

Rent ratio — Monthly rent ÷ purchase price (1% rule). 1%+ = strong, 0.8–1% = okay, <0.8% = weak for cashflow.
Max investor price — Rent ÷ 0.8%; the price at which rent would be 0.8% of price (Stoke-style target).
Target investor price — Rent ÷ 1%; the price at which rent would be 1% of price (strong cashflow band).
Gross yield — Annual rent as % of purchase price (no costs).
Cost-to-rent — Price ÷ annual rent (from OpenRent comparables). Under 14× = strong, 14–16× = acceptable, 17×+ = compressed.
Cashflow — Rent minus 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).