Mixed use investment producing £17,100 pa

Mixed used investment producing £17,100pa This town centre lot comprises of a let office, vacant shop and five off-road parking spaces. The office is let at £16,500pa. The shop is vacant, however could let for in the region of £3,600pa. There are five parking spaces, two are let at £600pa. The total current income is £17,100pa with a potential income, once fully let, of over £20,000pa.

Tenure

Freehold

2 and 3 Stonecutters Way

This three storey office is let to Norfolk Citizens Advice Bureau on a fifteen year lease dated 25th March 2010. The rent is currently £15,000pa and increases to £16,500 with effect from 25th March 2015. There is a break clause in 2020. The tenant is a long standing occupier, having occupied the building for around thirty years. According to the valuation office website the office has an area of 255.9 sq/m and a rateable value of £17,500 with effect from 1st April 2010.

3A Stonecutters Way

This is a vacant retail unit attached to the main building with a separate entrance. According to the valuation office website the shop has an area of 37 sq/m and a rateable value of £2,475 with effect from 1st April 2010.

Parking

Two car parking spaces are included within the lease to Norfolk Citizens Advice Bureau. A further two parking spaces are let to the nearby BBC office at £600pa. One car park space is available and could form part of any new let on the shop.

Description

2 & 3 Stonecutters Way Ground Floor: Three entrances, reception, office, meeting room, w.c. First Floor: Seven offices, two storerooms, kitchen. Second Floor: Six offices, two w.c's.

3A Stonecutters Way

Ground Floor: Retail area, rear office/store, staff kitchen, w.c.

Outside

Five off-road parking spaces to the side of the building.

Viewing

By appointment with the Auctioneers - 01603 505100

Energy Efficiency Rating (EPC)

Current Rating G

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Great Yarmouth Borough Council. Tel: 01493 856100

Solicitors

Norton Peskett, 141 King Street, Great Yarmouth, Norfolk NR30 2PQ, Ref: Mr Matthew Breeze, Tel: (01493) 849225

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ 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.