12-18 Queen Street, Norwich
INVESTMENT SUMMARY
- Norwich is an affluent and historic cathedral city and the retailing and administrative centre for East Anglia.
- Norwich’s 2025 population is estimated at 206,586 by World Population Review.
- Norwich has over 17,000 students, with University of East Anglia ranked 34th in the Complete University Guide 2027.
- Norwich has been included in Best Places to Live by The Sunday Times guide 2024.
- Norwich catchment is highly affluent and loyal with an over representation of ‘comfortable communities’ and ‘affluent achievers’.
- Tourism is worth an estimated £750 million to the local economy every year and supports more than 13,000 jobs.
- The property is let to Norfolk Country Properties Ltd at £20,000 pax, effectively FRI, expiring 22 April 2031; Spicerhaart Property Services Ltd at £29,000 pax, effectively FRI, expiring 18 February 2030; Pure Resourcing Solutions Ltd at £17,500 pax, effectively FRI, expiring 14 March 2031; Citygate Developments 2005 Ltd at £5,000 pax, effectively FRI, expiring 5 years from completion of sale. Total income £85,500 pax (including £14,000 pax ERV on vacant office.
- Offers invited in the region of £800,000 showing an attractive net yield of approximately 10%, on the letting of the vacant office.
LOCATION
Norwich is located approximately 43 miles north of Ipswich, 62 miles northeast of Cambridge and 100 miles northeast of London.
Norwich benefits from excellent road communications providing direct access to the A11 which connects it with Cambridge to the southwest and onto Junction 9 of the M11. The A140 provides access to the A14 and Ipswich to the south. The A14 provides access to the M1 and M6.
Rail communications are provided from Norwich Railway Station with direct services to Ipswich (40 mins), Cambridge (1 hr 10 mins) and London Liverpool Street (fastest 1 hour 34 mins) .
Norwich International Airport is located approximately 3.5 miles to the north of the city and London Stansted Airport is located approximately 77 miles to the southwest.
The property occupies a highly prominent position at the junction of Queen Street and Tombland, enjoying good visibility to the strong pedestrian flow between Norwich Cathedral with the surrounding professional offices, and the city centre. Tombland and Queen Street are an important part of Norwich’s food and beverage offer with a strong mix of national and regional occupiers located in the immediate vicinity including Zizzis, Giggling Squid and Revolucion de Cuba. The area is popular with estate agents and in addition to the 2 national operators trading from the property, Savills, Strutt & Parker and W H Brown are all located nearby.
ACCOMMODATION
The property provides accommodation on ground, basement, first and second floors.
The ground floor and basement comprise two self-contained retail units.
The first and second floors comprise attractive, well specified office accommodation with excellent natural light, currently divided to provide three separate suites of offices; two on the first floor and one on the second floor, all accessed via an entrance from Queen Street, with stairs to each floor. There are shared WC’s, shower and kitchen on the first floor and further WC’s and kitchen on the second floor.
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.