Completed Development

Number 82 The Unthank -
Norwich, Norfolk, NR2

Development Background

No 82 The Unthank was a conversion of a former hotel (C1 use class) into a block of 19 serviced apartments with an onsite concierge and gym.

Strategy

The strategy was to convert the building into serviced apartments, establish a trading history and then retain via a commercial mortgage.

Outcome

No 82 The Unthank has now been open since March 2018 so benefits from 1.5 years trading history.

It generates an average annual gross income of £360,000 with the exit strategy being disposing of the asset and trading business once it possesses 5 years trading history.

https://www.number82theunthank.co.uk/

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Number 82 The Unthank - Norwich, Norfolk, NR2