# 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)