Long leasehold shop investment producing £10,200 pa, rising to £10,920 pa

This virtual freehold lock up shop investment is currently tenanted to an estate agency business and provides an annual income of £10,200 pa which rises to £10,920 from 1st December 2022. The premises is let on a five year lease which commenced 01.06.22 (no break) and extends to 907 square feet including a cloakroom and good frontage onto a busy road to the north of Norwich centre. The shop is located in a newly refurbished parade of shops surrounded by high density residential dwellings and local businesses.

Tenure

Leasehold

Accommodation

Main shop area, staff cloakroom

Tenancy details

The current lease is for 5 years from 1st June 2022 initially for a rent of £10,200 which rises to £10,920 from 1st December 2022

Lease Details

Term: 999 years Annual ground rent amount: £150 pa Ground rent review period: Please refer to Legal Pack Annual service charge amount: Please refer to Legal Pack Service charge review period: Please refer to Legal Pack

VAT

VAT is not applicable to this lot.

Energy Efficiency Rating (EPC)

Current Rating B

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

Ward Gethin Archer, Ref: Tracy Guest, Tel: 01362 692182

Additional Fees

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.