Valuable Ground Rent Investment producing £3,600 pa

An industrial unit situated less than a mile north west of the city centre let to a long standing tenant. It is currently let to Classic Finishes on a 75 year lease from 1972 (26 years remaining) with a rent of £3,600 pa. The site extends to around 0.16 acre and has hard standing with parking to the front and side.The neighbouring property occupier, Mitchell Fencing and Sheds at no 148 Oak Street, has a right of way to the side of the site to access the rear of his site. According to the valuation office website, the property is described as a store and premises, and has an area of 342.9.sq/m and a rateable value of £11,750 with effect from 1st April 2017.

Tenure

Freehold

Rent Review

The next review date is in April 2035.

Energy Efficiency Rating (EPC)

Current Rating E

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

Fosters, William House, 19 Bank Plain, Norwich, NR2 4FS, Ref: James Allen, Tel: 01603 620508

Additional Fees

Buyer's Premium - £600 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1140 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.