Freehold shop and residential investment - producing £32,980 pa.
Situated in a prominent High Street position, this imposing building comprises of a lock-up shop which is let to a successful and highly regarded local butchers and three self contained flats with parking. The whole building which is fully let generates an annual income of £32,980. This is a well looked after and highly productive investment opportunity at the centre of the busy and historic coastal town. Occupiers close by include HSBC Bank, Boots, Iceland, Mountain Warehouse and a wide variety of established local business, restaurants and public houses..The sea front with its famous pier and theatre are within a short walk. VAT is not applicable to this lot.
Accommodation and Tenancy schedule
Beast To Block: Ground Floor 100 sq m (1076 sq ft). 15 year lease from 2021, with a rent review in 5 years. Current rent £13,000pa to include a parking space. First floor flat: 2 bedrooms, lounge, kitchen, bathroom Rent £495pcm Second Floor flat: 2 bedrooms, lounge, kitchen, bathroom. Rent £520pcm Third Floor flat: 1 bedroom, lounge, kitchen, bathroom. Rent £525pcm Courtyard garden to rear, two covered parking spaces let at £250pa each Access rights in favour of HSBC £1,000pa Total Income £32,980pa
Open viewings are arranged and the next one is Tuesday 7 June. To book an appointment please call our Norwich office.
Energy Efficiency Rating (EPC)
Current Rating D, E
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
North Norfolk District Council
BRM Law, Ref: Sanjeev Batra, Tel: 01246 564003
Buyer's Premium - £420 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a miniumum of £1200 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.