Completed Development

Number 10 The Abbey -
Wymondham, Norfolk, NR18

Development Background

No 10 The Abbey was a conversion of a former hotel (C1 use class) into a block of 20 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 10 The Abbey has now been open since November 2017 so benefits from 3 years trading history. It generates an average annual gross income of £300,000 with the exit strategy being disposing of the asset and trading business once it possesses 5 years trading history.

https://www.number10theabbey.co.uk/

Further Information

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Finished Product

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Number 10 The Abbey - Wymondham, Norfolk, NR18