R2RSA in Norwich

Sourced are pleased to present another exceptional opportunity to take on a stunning 2-bed Flat for R2RSA in Norwich on a 5-year agreement. The unit benefits from 2 bedrooms, open plan living room and dining area and 1 bathroom and has been fully refurbished to a lovely standard. The property is in a fantastic location right in the heart of Norwich city centre meaning everything is within walking distance. Just 20 minutes away is the Norfolk cost providing guests with a opportunity for a city break and the seaside.

The unit will comfortably be able to sleep up to 6 guests. The total rent payable for the unit is £1,500 which does not include bills. The financial figures provided also allow for management costs and OTAs and the profit is net after all costs.

The unit is available on a 5-year contract. This investment can be fully managed by our managing agent or self-manged making it as hands-off or hands on for you. We'll also get you set up on our online platform, so you have full visibility of bookings/revenue.

The management fee is 14% + VAT of net revenue. This includes full management covering everything from check-ins, check-outs, cleaning, and maintenance.

Pictures, location details and a detailed financial breakdown are available on request.

Sourcing fee of £3,000

The financials:
▪ Rent: £1,500
▪ Ongoing monthly costs (including approx. bills cost)*: £387
▪ Average nightly rate: £181
▪ Revenue at 70% occupancy: £3,854
▪ Revenue at 85% occupancy: £4,680

▪ Deposit: £1,500
▪ Sourcing fee:£3,000
▪ Furniture: £4,000
▪ Total Upfront Cash Required**: £8,500

▪ Monthly profit at 70%: £896
▪ Annual profit at 70%: £8,386
▪ Profit over 5 years at 70% (assuming no increase in nightly rates): £53,768

▪ Monthly profit at 85%: £1,493
▪ Annual profit at 85%: £17,910
▪ Profit over 5 years at 85% (assuming no increase in nightly rates): £89,551

▪ ROCE over 1 year at 70%: 127%
▪ ROCE over 5 years at 70% (assuming no increase in nightly rates): 633%
▪ Months till profit: 10