Norwich - 2nd hottest UK spot* Only 2 Apartments with 14% RICS discount
*According to Nationwide published figures Norwich is 2nd to only Belfast in capital appreciation over the last 12 months!
Without wishing to sound obvious, this is largely due to a current demand greater than the current supply. As we say to all our clients, especially the new one's "don't take our word for it, make a few calls to letting/estate agents and/or check the internet". You will then know that the way we work, we can afford to be picky and choose what we believe to be the best opportunities. We believe Norwich to firmly meet this criteria - the facts speak for themselves.
Due to our success on this development we have been given the opportunity to offer you the last 2 units. Please call or e-mail for specific availability, but you will need to act quickly.
Overview
Price Range: £136,310 - £186,616 (net)
Reservation Fee: £1,000 - will be allowed against deposit on exchange
Exchange deposit: 5% of the property's discounted price on exchange of contracts plus a further 5% after 6 months
Number of plots: 4
Completion: August 2008
Parking: Secure parking included in all prices (except unit 16)
Discounts: 14% verified by RICS surveyor
Leasehold: 125 years
To include: Integrated appliances / individually designed kitchen / luxury bathroom
24 apartments in total, city centre location, prestigious award winning developer.
Introduction
A mixed use development comprising ground floor Retail with first, second and third floors residential, The Edge is ideally placed in the City Centre Conservation Area of Norwich in the NR1 post code.
Within a few minutes’ walk are the Castle Mall shopping centre, the main shopping centre, the Medieval Tombland leisure district; Riverside concentrated entertainment area as well as the railway and bus stations.
Development
This award-winning developer enjoys considerable commercial success. In an age and an industry where awards often seem to be bestowed on insubstantial (though creative) businesses, it is reassuring to see a first division developer earning design accolades.
An outstanding development of 24 high quality one- and two-bedroom apartments being built in the centre of Norwich.
RICS verified 14% discount, resulting in pricing from just £136,310 (one-bed) to £186,616 for two bedroom apartments with immediate equity (by way of discount) of £22,190 to £30,379.
More than 18 months’ price growth before completion (up to 15% at current rates).
Some two-bed apartments have an en-suite shower room to the main bedroom.
Very high design and quality specification, by an award-winning developer.
£1,000 reservation fee which will be allowed against the deposit on exchange; 5% deposit of discounted price on exchange of contracts; 5% in 6 months’ time then nothing further until completion.
Strong rental demand expected because of strategic location. Up to £850 per month already being achieved by local agents for similar 2-bed apartments with parking and en-suite facilities.
Allocated parking space included in the price (except unit 16).
10 year NHBC Guarantee or similar.
Completion anticipated August 2008.
Location
Norwich is proud of its past and present status. Its ancient buildings and city wall remains make it the most complete medieval city in Britain.
Norwich has 12 iconic buildings, the finest single collection of any city in the UK. The architecture of these outstanding heritage buildings charts the development of this English City over the last 1000 years.
High Street names and large department stores are well represented in the central area which boasts two major shopping centers, Chapelfield, and the award winning Castle Mall.
John Lewis, House of Fraser, Boots, Marks & Spencer and Debenhams are among the well-known major outlets, as well as the many fashion brands. Family-owned, Jarrold was recently named UK Independent Department Store of the Year.
Tombland is a busy and popular night-time destination. A concentration of medieval buildings, together with the backdrop of the magnificent cathedral, provides it with a chic ambience complemented by the abundance of trendy café bars and stylish restaurants.
In the summer months, several of the venues spill over onto the cobbles creating a laid-back pavement café culture – perfect for watching the world go by.
Norwich Facts and Figures
The City hosts strong Financial Services, Creative and Media Industries and Health and Life Science employment opportunities.
As the UK's most significant financial centre outside of the City of London, it is the headquarters of Norwich Union, the largest insurance company in the UK. Other financial institutions include Marsh and Virgin Money. Approximately one in four of Norwich's workforce is employed in financial services.
ITV Anglia, BBC East, Radio Broadland and Radio Norfolk offer a strong creative media industry. Employment in the media industry is 20% higher than the national average.
Norwich Research Park is one of Europe's leading clusters of research and development into health, food, plant and microbial science, the environment and computing sciences. Organisations based at the Research Park include the University of East Anglia, Norfolk and Norwich University Hospital, Institute of Food Research, and the Sainsbury Laboratory.
Conclusion
In terms of new residential development in the central area of Norwich there are indeed very few opportunities available. This prestigious development is located within a much sought after area and combined with very strong rental demand this development will only prove to be an excellent investment opportunity.
This development very clearly works in the investors favour and combined with a RICS verified discount at 14% will only prove more than favourable to those wishing to expand their portfolio.
What to do now?
Call us on 0117 9525066, Text "Norwich" to 07711 807 232 or email info@1stchoicepropertyinvestments.co.uk for more information.
a reservation form will also need to be completed and either posted or faxed to 1st Choice Property Investments, together with your reservation fee and our 2%(+VAT) fee.
If you wish to receive information on similar properties as they become available, please register with us for email and FREE (optional) text updates.
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