About this property

Detailed Description

The property comprises a self-contained detached two storey office premises, with more recent single storey extension, with onsite car parking for approximately 8 cars.

Internally the accommodation provides a reception, with 3 office rooms, kitchen and WC facilities at ground floor level, and 3 offices and a boardroom at first floor level.

The accommodation is well specified with heating and cooling throughout.

Location

The property occupies a highly prominent and visible position overlooking the St Stephens roundabout and the Inner Ring Road, a short walking distance from Norwich's historic City Centre and directly opposite the NCP Norwich St Stephens Street multistorey car park and bus station.

Accommodation

Measured on a net internal basis, the floor areas are as follows:-

Description sq m sq ft
Ground floor offices 137.9 1,484
Ground floor kitchen 6.2 67
First floor offices 85.8 923
First floor storage 3.5 38
Total NIA 233.4 2,512

Business Rates

Business rates will be the responsibility of the occupier. The premises have the following assessment:-

Description Office & Premises
Rateable Value £36,750
Rates Payable for 2025/2026 £18,338

Services

We have not carried out tests on any of the services or appliances and interested parties should arrange their own test to ensure these are in working order.

Viewing

Strictly by appointment with the sole selling agent.

VAT

The property has been elected for VAT, and it is proposed a transaction be treated as a Transfer of a Going Concern (TOGC).

Legal Costs

Each party will be responsible for their own legal costs incurred in documenting the transaction.

Terms

The property is let to ARC (Norwich) Limited on a full repairing and insuring lease for a term of 10 years from December 2019, incorporating a tenant only break on the fifth anniversary of the term (not exercised). The current rent passing is £41,250 per annum exclusive (£16.40 per sq ft).

A rent deposit equivalent to three months' rent is held throughout the term, and the lease is subject to a brief photographic Schedule of Condition

ARC (Norwich) Limited has a turnover of c. £30m per annum and was incorporated in August 2008. The tenant has a 100/100 'Very Low Risk' Experian credit check rating.