COVID-19 – Important Auction Information
For Sale By Auction | 11:00, 22 July 2020 | Lot 6

Oval Garage, Dereham Road, Norwich, Norfolk, NR5 8TD

*Guide | £275,000 - £300,000 (plus fees)

  • Commercial Property
  • Tenure: Freehold

Call the team on 01603 505 100 for more information

Auction Date

Wed 22/07/2020

Auction Time

11:00

Auction Venue

ONLINE

Garage and repair centre in prominent main road position current rent reserved £28,600pa

A valuable freehold investment property currently let to an established tenant paying an annual rent of £28,600. The premises have traded as a car repair and MOT centre for many years and the existing tenant has indicated they would be willing to extend the term of their current lease if required. The premises comprise of an office, single storey workshops and stores suitable for, and used as, a motor trade repair business. They are located in a high profile position next to a petrol filling station and on a major arterial road heading into Norwich

Tenure

Freehold

Accommodation

Office, range of workshops, storage rooms and garaging. Forecourt area and parking

Tenancy

The property is occupied on a 6 year tenancy which started on 1st October 2017 current rent £28,600 with a rent review scheduled after three years i.e. October 2020.

VAT

VAT is not applicable to this lot

Viewings

Open viewings are being scheduled - the next is Thursday 25 June 2020 - APPOINTMENT ESSENTIAL please contact the Norwich office on 01603 505100 to be allocated a time slot.

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

Solicitors

Lambert Pugh, 19 Charing Cross, Norwich, NR2 4AX, Ref: John Lambert, Tel: 01603 462796

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £954 inc 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.