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 for Wednesday 22nd June and Tuesday 28th June. To book an appointment please call our Norwich office on 01603 505100.
Council Tax Band
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 minimum 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.