Sold £144,000
- Retail Property (high street)
- Tenure: Freehold
Call the team on 01603 505 100 for more information
Freehold retail premises let producing £13,300pa
Freehold retail premises 123.7sq/m (1,331sq/ft) with additional ground rent income from two flats This is an end terrace two storey building. On the ground floor is a prominent shop with extensive window frontage. It is let to Norfolk and Norwich Scope Association (NANSA - www.nansa.org.uk), a well established local charity founded in 1954, on a ten year lease with effect from 1st January 2017 at a current passing rent of £13,200pa, rising in 2022 to £14,400. Above the flat on the first floor are two flats subject to a 125 year lease with effect from 1998 (106 years remaining). The ground rent is believed to be £50pa per flat, increasing by £25 every twenty-five years. According to the valuation office website, the property is described as a shop and premises, extends to 123.7 sq/m and has a rateable value of £11,250 with effect from 1st April 2010. With effect from 1st April 2017 the new rateable value will be £9,400.
Tenure
Freehold
Description
Ground Floor
Main shop, office, storage areas, w.c., kitchen.
Outside
Off road parking to the rear.
Notes
The property is located close to the Anglia Square shopping centre, the owners of which are in talks with Norwich City Council regarding plans for a comprehensive redevelopment of the complex to include new homes, shop units, multi-storey car park, cinema and public square. The property is Grade II listed and exempt from business rates if vacant.
Viewing
Open days
Energy Efficiency Rating (EPC)
Current Rating C
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Local Authority
Norwich City Council. Tel: 0344 980 3333
Solicitors
Cozens-Hardy LLP, Castle Chambers, Opie Street, Norwich NR1 3DP, Ref: Mr D Evans, Tel: 01603 724676
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ VAT), payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Floor Plans
Click the image to view the full-sized floorplan.
