Valuable and prominent freehold investment property including a parade of shops (fully let), a 4/5 bedroom house in need of modernisation and extensive grounds on a 0.4 acre site (stms) with future development potential. Current rent reserved £45,910 pa.

This high profile shopping parade consists of well established businesses including a Chip Shop, Hairdressers, Tattooist, Convenience Store, Cafe and fast food outlet. There is also a 4/5 bedroom residential property which is in need of modernisation with the potential to be converted to two flats or student accommodation (subject to planning approval). To the front of the building is a generous customer parking area and to the rear is a large garden with storage sheds, this could also offer future planning potential. This is a rare opportunity to add value to an already vibrant investment property with immediate potential for an uplift in rental income. The 0.4 acres site (stms) is on the corner of Dereham Road and Larkman Lane, opposite an Aldi supermarket and close to a high density residential area, the university of East Anglia and Norfolk and Norwich Hospital.

Tenure

Freehold

2a Larkman Lane

Present Lessee: Larkman Fish Bar Accommodation: Ground Floor: Retail area, preperation area, stores First Floor: 3 bedrooms, bathroom 106 sq/m (1141 sq/ft) Lease Details: 15 years from 27th November 2015 Current Rent (PA): £8,350 Next Review: 3 yearly

2b Larkman Lane

Present Lessee: Hot Headz Accommodation: Ground Floor: Retail area, treatment rooms, kitchen, wc First Floor: Treatment rooms, 2 toilets 47.99 sq/m (517 sq/ft) Lease Details: 10 years from 24th June 2012 (holding over new lease requested) Current Rent (PA): £6,500 Next Review: Holding over

2b (c) Larkman Lane

Present Lessee: Hot Headz (sublet to tattooist) Accommodation: First Floor: Treatment rooms, wc's 19.19 sq/m (207 sq/ft) Lease Details: 5 years from June 2021 Reversion: 1 June 2026

2c Larkman Lane

Present Lessee: Kwiksave Accommodation Ground Floor: Retail area, store rooms, office, wc 184.70 sq/m (1988 sq/ft) Lease Details: 10 years from 3rd August 2021 Current Rent (PA): £18,000 Next Review: August 2024

2d Larkman Lane

Present Lessee: Yummy Yummy Tasty Food Ltd Accommodation: First Floor: Restaurant, kitchen, store 119.28 sq/m (1284 sq/ft) Lease Details: 10 years from 15th August 2021 Current Rent (PA): £9,600 Next Review: August 2024

Site of Burger Van

Present Lessee: Lee Lees Bacon and Burger Van Accommodation: Storage Site Lease Details: 10 years from 6th October 2021 Current Rent (PA): £2,160 Next Review: October 2024

568 Dereham Road (Vacant)

Ground Floor: Hall, lounge, kitchen, dining room, 5th bedroom / study First Floor: Landing, 4 bedrooms, bathroom, wc 141.80 sq/m (1526 sq/ft)

Council Tax Band

D

Note

VAT is not applicable to this lot.

Viewings

Individual viewings are available by appointment only. Please call the Norwich office for an appointment.

Energy Efficiency Rating (EPC)

Current Rating 568 Dereham Road - E; 2a - G; 2c - 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

Solicitors

Ward Gethin Archer (Dereham), Ref: Tracy Guest, Tel: 01362 852918

Additional Fees

Buyer's Premium - £1200 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.