Commercial investment producing £6,500 pa

This ground floor commercial premises faces Recreation Road and is let to J & S Jewellery Ltd who have been in occupation since 2014. The rent is currently £6,500 pa and the tenant is due to vacate in May. According to the valuation office website the property extends to 44.96 sq/m and will have a rateable value of £5,100 with effect from 1st April 2023. The premises are arranged as two separate self-contained office suites, however they have been let as one with an interconnecting door. The unit is modern in good decorative order and would make an ideal purchase for an investor / pension or owner occupier.

Tenure

Leasehold

Ground floor

Entrance lobby, two offices, kitchen, two toilets

Lease details

Term of Lease : 986 years from 30th September 2014 Years remaining : 977 Annual service charge : £807.00 Annual Ground Rent : £100.00

NOTE

VAT is applicable to this lot.

Viewing

Open viewings are being held and the next are on Thursday 23 February. Please contact the Norwich Office to book a slot.

Energy Efficiency Rating (EPC)

Current Rating D

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

Birketts (Ipswich), Ref: Sam Froud

Additional Fees

Buyer's Premium - £900 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.