- Freehold investment for sale.
- Prominent location on busy arterial road.
- Attractive, mixed use investment.
- Long established and highly successful pizza takeaway and 3 well let residential units.
- Current rent £35,736 per annum.
- VAT not payable on sale.
The property is located on Dereham Road (A1074) approximately 1½ miles west of Norwich city centre within a mixed commercial and residential area.
Dereham Road is one of Norwich’s principal arterial routes leading from the west of the city.
The premises are in a popular terrace of commercial properties occupied by a range of convenience retailers, beauty/hair salons, cafes/takeaways and service providers.
To the rear of the property is the recently completed and award winning Goldsmith Street housing development.
The property comprises a takeaway unit occupying the front of the ground floor and the basement, with off road, forecourt parking.
The rear of the ground floor and the entire first floor comprise 3 residential units. A 2 bed townhouse, a 1 bed flat and a studio flat.
The accommodation can be further described as follows:-
|Ceasar’s Pizza and Kebab|
|Ground:||Sales||430 sq ft||39.9 sq m|
|Preparation||150 sq ft||13.9 sq m|
|Basement:||Storage||273 sq ft||25.3 sq m|
|Flat 1||First Floor||1 bed|
|Flat 2||First Floor||Studio|
|Flat 3||Ground & First Floor||2 bed town house|
Rear Yard 3 car spaces
Ceasar’s Pizza and Kebab
|Ground floor front, basement and forecourt|
|Tenant:||D Polat Esq|
|Term:||15 years from 25 November 2012. Expires 24 November 2027. Approximately 7 years unexpired.|
Fixed increase every 2 years, approximately equivalent to + 2½% per annum.
Details on request.
|Repairs:||Internal repairing plus service charge.|
|Flat 1||Let on AST at £500 pcm||£6,000 pa|
|Flat 2||Let on AST at £455 pcm||£5,460 pa|
|Flat 3||Let on AST at £518 pcm||£6,216 pa|
|Current total annual rent||£35,736 pa|
We understand from the Valuation Office Agency website that the ground floor front and basement commercial element of the property has a rating assessment of £9,400 with effect from 1 April 2017. Interested parties are advised to make their own enquiries.
ENERGY PERFORMANCE CERTIFICATE
Details are available upon request.
The property is not elected for VAT.
Offers are invited in excess of £475,000 (Four Hundred & Seventy-Five Thousand Pounds) plus VAT for the freehold of the property, with the benefit of the existing leases.
Each party to be responsible for their own legal costs incurred in the transaction.
Promap Digital Plans are for identification only and not to be scaled as a working drawing and are based upon the Ordnance Survey Map with the permission of The Controller of Her Majesty’s Stationery Office © Crown Copyright 39954X. No part of this plan may be entered into an electronic retrieval system without prior consent of the publisher.
Francis Darrah for themselves and as Agents for the proposed Vendor(s) or Lessor(s) give notice: 1. That they do not make or give either in these particulars or in negotiations or otherwise any warranty or representation whatever in relation to the property. 2. Any plan attached to these particulars is for identification purposes only and all measurements are given as a guide and no liability can be accepted for errors arising therefrom. 3. The property being open to inspection any intended purchaser must satisfy himself as to the accuracy of these particulars and he will be deemed to have full knowledge thereof. 4. No liability can be accepted for any misstatement, omission or errors in these particulars. 5. These particulars do not constitute an offer or Contract or any part thereof.