ST STEPHENS ROAD, NORWICH – Guide Price £535,000

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For Sale | Bedrooms | Bathrooms | Reception Rooms | Commercial

PROMINENT CITY CENTRE LOCATION

14.6% YIELD

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 01603 250248

Selling your home

Why not take advantage of our free market appraisal and valuation service? Ask about our competitive commission rates, our unique value added services to vendors, our innovative marketing and extensive advertising coverage.

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