Property for sale
Property description & features
- Tenure: Freehold
- PROMINENT CITY CENTRE LOCATION
- YIELD OF 14.6%
- LET UNTIL 2029 WITH ANNUAL RPI LINKED RENT REVIEWS
PROMINENT FREEHOLD RETAIL INVESTMENT PROPERTY LOCATED IN A CITY CENTRE LOCATION AND CURRENTLY LET UNTIL 2029 AT £78,070 PER ANNUM PRODUCING A YIELD OF 14.6%
Location
The Property is located in the centre of Norwich, the cathedral city and regional centre of East Anglia. The city boasts a lively night life, cultural and social activities as well as good shopping and an historic centre. The University of East Anglia and the Norfolk and Norwich hospital are also close by.
The property
The retail space extends to 848.9 square meters (9137 sq ft) with staff kitchen, toilets and three storage rooms with rear access to St Stephens Square. The freehold interest also includes 24 flats and a shop sold off on long leases. The retail space is currently let to Body Power Sports Ltd at a rent of £78,070 per annum on a lease which expires in 2029 with annual RPI linked rent reviews. VAT is applicable to this purchase although if the buyer is VAT registered then the VAT can be dealt with using OTT.
Directions
The subject property is located on the St Stephens roundabout on the A147 inner ring road.
Local Authority
Norwich City Council.
Services
We understand that mains electricity, water and sewerage are connected to the property.
Viewing
Strictly through Vendor’s sole agents: Hadley Taylor[use Contact Agent Button]
Selling your home
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Hours of Business
Monday to Friday: 0900 – 1730
Saturdays: 1000 – 1300
Property information from this agent
Places of interest
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Property reference 1-7ststephensroad. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Hadley Taylor - Norwich.
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Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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