For Sale By Auction | 11:00, 24 July 2024 | Lot 125

118 Hall Road, Norwich, Norfolk NR1 3HP

*Guide | £225,000 - £250,000 (plus fees)

  • Block of Apartments
  • Tenure: Freehold

Call the team on 01603 505 100 for more information

Auction Date

Wed 24/07/2024

Auction Time

11:00

Auction Venue

Livestream Auction

A highly productive mixed use investment currently producing £31,930pa

This mixed use investment property currently comprises of a cafe and four bedsit apartments producing an annual income of £31,930 pa. The shop is let on a five year lease from Jan 24 with an income of £8,400 pa and the four bedsit apartments jointly produce an annual income of £23,530. One of the flats is fully self contained and the other three units share a recently upgraded kitchen. There is an ensuite bathroom to the top floor flat and the remaining units share a shower room, which has also recently been upgraded. The premises are located on a busy road less than a mile from Norwich City centre surrounded by local shops residential properties, schools and other community facilities.

Tenure

Freehold

Ground Floor

Cafe with dining and kitchen areas, wc. Studio apartment to rear

First Floor

Kitchen, shower room, two letting rooms

Second floor

Studio apartment with ensuite shower room

Outside

Front cafe seating area, rear garden

Business Rates

1 April 2023 to present: £5,800

Council Tax Band

A

Viewings

Individual viewings can be arranged for Tuesday 16th July 2024. Please call the Norwich Office to book an appointment.

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

Taylor Rose MW (Peterborough), Ref: Christopher Taylor, Tel: 01263800089

Important Notice to Prospective Buyers:

We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.

Additional Fees

Buyer's Premium - £600 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.