12 bed property for sale

Bahram Road, Costessey NR8

A fully let block of six modern two-bedroom apartments located within the ever-popular Queens Hill development.

Built in 2005 and held on a lease of over 980 years, the property produces a combined annual income of £67,740, reflecting a gross yield of just over 7%. This is a proven, income-generating asset with established tenancies and immediate cash flow from day one.

Queens Hill continues to attract strong rental demand due to its proximity to the University of East Anglia, Norfolk & Norwich University Hospital and key employment centres. The area is particularly popular with professional tenants and hospital staff, supporting consistent occupancy levels.
The block operates under a Right to Manage structure, allowing leaseholders to retain control over management decisions and service charge expenditure - an important advantage for investors focused on cost efficiency and long-term asset protection.

Each apartment benefits from allocated parking, with additional visitor parking, maintained communal grounds, secure bin storage and cycle facilities - features that enhance tenant appeal and retention.
A rare opportunity to acquire a stabilised residential investment in one of Norwich’s strongest performing rental locations.

Apartments X 6

Each apartment has two bedroom, living area, kitchen, ensuite and bathroom and parking space.

Agents Note

Management & Tenure Summery

This Block presents a highly attractive long-term investment opportunity, underpinned by robust management structure and exceptional lease security.

Right To Manage (Rtm) Structure

The building is operated via an established Right to Manage (rtm) company, providing leaseholders with direct control over management decisions and cost oversight. Current rtm costs are approximately £666 per apartment, per annum, supporting a transparent and accountable governance framework.

Profesional Managing Agents

Day-to-day opertations are handled by the rtm and Martin& Co. This ensures professional oversight of maintenance, compliance, and financial administration, reducing operational risk for investors.
Gateway Property Management at a cost of approximately £560 per flat, per year is payable.

Lease Term

Each apartment benefits from an exceptionally long lease with approximately 981 years remaining, providing outstanding long-term secuirity and eliminating near- or medium-term lease extention risk. This significantly enhances mortgageability and future resale attractiveness.

Freehold Position

The freehold is owned by Stafford Chase, with the benefit of control excercised through the existing rtm structure. This arrangement offers investors meaningful influence over building management while maintaining a clear and stable ownership framework.

Important Information

Purchasers will be responsible for arranging and funding the individual management information packs for each apartment.

EPC ratings - All apartments achieve a B or C rating

Local authority - South Norfolk District Council

Council Tax Band - Band B for all units
Services - Mains Gas, Electricity, Water and Drainage.