One of our partners, Roberto Martinez, first came across this site in Norwich a couple of years ago. It took us a long time to come to an agreement with the vendor and actually get the ball rolling.
But 2019 is bringing great things for us (and I hope for you too!) and we are finally on site.
This is a conversion of a Bed and Breakfast in a listed building in Central Norwich into 6 serviced apartments and a coffee shop. As you can imagine, the works needed are few for this conversion and change of strategy, but the return on costs are over 50% and the GDV is £1.26M.
Our serviced apartments arm, Royal Oak Apartments, is ready to manage the units as soon as they’re ready, whether we hold them or sell the units to investors.
Here are a few “before” pictures of the site.
Now the “during” pictures.