Entire street of houses with 42 bedrooms sells for £1.825m
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A whole street of seven homes with a total of 42 bedrooms in Norwich has sold for £1.825m.
The former student houses in Nicholas Mews, off Nicholas Street near the award-winning Goldsmith Street, were originally for sale for £2.3m, going on the market last January. Like something on a Monoopoly board, the houses, each with six bedrooms and a kitchen and living room, gave a buyer a unique opportunity to snap up a complete city address.
But it proved a tricky sale until an investor was found who plans to turn the houses into good quality, shared accommodation for working people.
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Steven Barker, MD of Abode estate agency, which sold the homes, said: "The opportunity that this unique investment offered was too good to turn down. The previously used student HMO (houses in multiple accommodation) will now be renovated to a clean, modern, professional standard and will provide accommodation to those working in and around the city.
"Professionals within this fine city deserve a standard of rental property that meets their needs and expectations, while being reasonably priced and well-located. With this new opportunity, we aim to provide that high-quality HMO accommodation."
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Each of the houses come with two bathrooms and are arranged over two or three storeys with communal gardens. They will be transformed into new, stylish properties which are suitable for mature student or professional sharers. The houses will be furnished with extensively equipped kitchens ands the rental is usually inclusive of an internet connection and a weekly cleaner.
Nicholas Mews was purpose-built as student accommodation around 20 years ago and before renovation, offered a minimum return of around £425 per calendar month per room.
Nicholas Mews has been sold after two other 'streets' in Norwich also were snapped up; four terraced houses in Cathedral Street, which were for sale for £1.2m and nine houses on Starling Road, near Aylsham Road, which came on the market for £2.75m.