City centre mixed use investment: let shop & 3 flats producing £32,740pa

The property comprises a mid-terraced three storey building with basement of brick and block construction with large double glazed display windows at ground floor level and an exposed brick façade under a flat roof. The ground floor comprises a lock-up shop currently utilsed as an independent local barista which trades "Carrello's on the Meadow". The basement, first and second floors offers residential accommodation comprising of two studio flats and a one bedroom flat. The property is situated on Castle Meadow, within close proximity to the Castle Mall shopping centre and the prime retail area of Gentleman's Walk. The street is primarily characterised as a central travel point due to the abundance of bus stops, however there are a number of national retailers within the immediate vicinity including Boots Pharmacy, Waterstones and Trailfinders. According to the Valuation Office website, the shop has an area of 26.1 square metres and a rateable value of £7,800 with effect from the 1st April 2017. From this date no rates are payable.

Tenure

Freehold

Accommodation

Ground Floor Retail - 31.38 square metres (338 square feet) Basement Studio Flat C - 40.39 square metres (435 square feet) First Floor Studio Flat A - 31.82 square metres (343 square feet) Second Floor On Bedroom Flat B - 43.53 square metres (469 square feet) Total - 147.12 square metres (1,584 square feet)

Rental Income

Shop - £833.33 pcm (£10,000 pa) Basement Studio Flat C - £550 pcm (£6,600 pa) First Floor Studio Flat A- £650 pcm (£7,800 pa) Second Floor One Bedroom Flat B - £695 pcm (£8,340 pa) Total - £2,728.33 pcm (£32,740 pa)

Tenancy

Shop - 5 year lease wef Apr 2017 Basement Studio Flat C - 12 mth AST wef 14/10/16 First Floor Studio Flat A - 12 mth AST wef 27/02/17 Second Floor One Bedroom Flat B - 12 mth company let wef 5/9/16

Viewing

Open days

Energy Efficiency Rating (EPC)

Current Rating Shop - D Flat A - C Flat B - 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. Tel: 0344 980 3333

Solicitors

Rogers & Norton, The Old Chapel, 5 - 7 Willow Lane, Norwich NR2 1EU, Ref: Mr B Faulkner, Tel: 01603 666001

Additional Fees

Administration Charge - £720.00 including VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.