The revival of city-centre residential living promises to give Norwich a

makeover the likes of which it may never have seen since its erstwhile

locals indulged in Roman road rage.

Developers Wilcon and Gazely recently paid an unprecedented £2.8m for the

privilege of building 200 homes on a plot near the River Wensum. This

four-acre site, explains Alan Cole of Watsons estate agents, "will have 50

units per acre, which is a very high density for Norwich. Normally we build

at something like 20-30 units to the acre in the city centre but this land

sold for a record figure in excess of £700,000 per acre. We would have

expected £200,000-300,000 per acre."

The higher price is offset by the extra income from the additional units.

Nevertheless, "this high price highlights the scarcity of land, and shows

that city-centre dwellings with water frontage is commanding a large

premium, even without mooring rights," says Cole. "It also signifies that

such developments can bring in developers you normally wouldn’t associate

with this kind of innovative scheme."

The overall development will include a 14-screen cinema, bowling complex,

nightclub, health and fitness centre, and lottery-funded swimming pool.

Cole notes that Hopkins, an active local developer, recently sold the last

of its 35 units in Dyers Yard: "The typical buyer was an empty nester who

sold their house in or near Norwich and now want the convenience and

security of a flat, or a young childless couple with disposable income."

"Property prices are rising about 20 per cent this year, in select areas,

such as anything on the river or with a river view, and the Golden Triangle

in south Norwich," he says. "This area is close to shopping, large

employers

like Norwich Union, the City College, the University of East Anglia, and

Norfolk and Norwich Hospital. It has turn of the century terraces and

modern

houses which always appeal to buyers and renters, and it held up well even

in the recession. Southeast Norwich, with classic detached houses and

Georgian town houses, is also solid."

Mark Stewart of Bidwells notes that "the country market is also very

promising, especially the top end of £350,000 and up, which grew about

10-15

% last year, and I predict will increase 10% next year. Demand is very high

from outside the area, which rightly perceive this part of Norfolk as good

value still. Not a single road going into Norwich is dualled, so businesses

have not moved here except for Virgin Direct and a few others."

Computers don’t lie, otherwise a Bidwells survey which spewed out identical

numbers would look dodgy in the extreme. "The survey showed that prices in

Norfolk are 66% less than the Cambridge area and only 66 miles away. For

slightly more than an hour’s drive from Cambridge, you can get the same

house at a 60% discount," says Stewart.

If a large house happens to be in the city rather than the country,

Bidwells

will be still be happy to sell it, especially as prices in areas like the

Golden Triangle seem to have been injected with helium and £400,000 is not

unheard of. "The new Norfolk and Norwich Hospital is currently being built

and it should bring in medical consultants who can spend that kind of

 money," says Stewart.

This new facility will replace the city centre hospital of the same name

which will cease operations literally as well as figuratively in 2001. The

historic site, part of which is more than 200 years old, will be

redeveloped

mostly for housing. (See Low-Down)

"Once the Norfolk and Norwich goes," says Cole, "there will be no more huge

tracts of land in the centre. Larger developments will have to be on

greenfield sites, which is the way it used to be."

THE LOW-DOWN

Transport

Rail service to Liverpool Street Station is half-hourly; journey time is

just under two hours. Norwich Airport has a new middle name –

International - signifying that it now serves Amsterdam as well as

Stansted,

Heathrow, Scotland, Leeds, Birmingham and Aberdeen.

Prices

One and two-bed flats sell for as little as £20,000 but the divide between

flat and house prices is relatively narrow. In north Norwich, £28,950 buys

a

modern one-bed flat, £35,950 buys a two-bed, and £44,950 buys a four-bed

end-terrace town house. "On the north side, £35,000 buys a 2-bed period

terrace house with garden front and rear. This is what I call a leap-in,

because it has no entrance hall and the front door leads straight into

lounge," says Cole. Take £300,000 or more for a family or country home at

Bidwells.

Properties

Cole says that there are about a dozen new developments in the city centre,

of varying sizes, although most are modest. To the south near the rail

station is the Wilcon/Gazely development. Directly opposite and even closer

to the station are 23 town houses on the former county library site being

developed by Hopkins.

Win Some, Lose Some

Many new developments are appearing on or near the meandering River Wensum,

which envelops the east and north sides of the city like a giant question

mark. St Anne’s Wharf will have commercial premises on ground and first

floor levels and, new for Norwich, glass and chrome flats above. Unicorn

Yard has four town-houses on the river, and two three-storey townhouses

currently available, for £162,000 and £189,000. Other new developments are

inland, near the City Hall and with excellent views of the civic centre.

New Suburban Developments

On the Norwich outskirts, King’s Lea (Beazer Homes) in Thorpe Marriott, a

new village, is being built alongside Taverham, an existing village.

Two-bed

houses from £56,250 and 3-beds from £68,500. Also by Beazer is Ferrer’s

Park, Wymondham, 2-bed bungalows from £72,500, and 4-bed houses from

£97,950. Beazer is also building 4-bed homes in Thorpe St Andrew, from

£98,950. Bovis is building 4-bed homes in Thorpe Marriott, from £99,750,

and

in Thorpe St Andrew, from £98,950.

Well-Building Syndrome

In Thorpe St Andrew, Persimmon and listed-building specialists Raven Group

are jointly developing and converting Grade II St Andrews Hospital into 59

flats and houses in the converted buildings, plus 42 new homes in the

hospital grounds. The first phase should open in the spring, with guide

prices from £80,000 to £200,000.

Norfolk and Norwich Hospital

The Council has solicited public comments and suggestion for the site and

is

currently collating the responses. According to the Council, "if the site

is

all used for housing, then some 200 houses could be built. It is proposed

that they should be a mix of types and sizes, with some affordable houses

to

be transferred to a housing association. The main administrative block, the

chapel and the original 1771 building are listed and can be required to be

kept."

Council Tax

Bands A, D and H are £545, £818 and £1,635. The MPs, both Labour, are

Charles Clark and Ian Gibson.

Contacts

Beazer 01603 700981; Bidwells 01603 763939; Watsons 01603 619916.

END