About this property

Detailed Description

The property offers six units including ATS Euromaster. All units are single-storey with brick and clad elevations under pitched roofs.

There is an estate road off which all the units are directly accessed.
An accommodation schedule is attached.

The property comprises a total of 2,400 sq meters (25,830 sq ft).

Location

Norwich is a popular cathedral city on the River Wensum in Norfolk. It is the largest city in East Anglia with an estimated population of 171,000.

Norwich is approximately 100 miles north of London via the A11 and M11 and is 40 miles north of Ipswich. There is also a direct train service to London Liverpool Street.

The property is situated approximately 2 miles northwest of the city within a mixed use area on the arterial Aylsham Road (A1024).

Occupiers close by include William Hill, Tesco, Lidl, Barclays and a Mecca Bingo Hall.

Accommodation

Freehold
Comprising of six self-contained trade units including ATS Euromaster
Rent being paid £182,174 per annum with an ERV of £225,754 per annum
7.40% NIY with a potential reversionary yield of approximately 9.26%
Providing a total of 2,400 sq m (25,830 sq ft) with a capital value of only £89.04 per sq ft

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 agents:-

VAT

V.A.T will be applicable to the sale of the properties, and it is anticipated that the sale will 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 sale.

Other

Price
The freehold is available to purchase and we are inviting offers in excess of £2,300,000 subject to and with the benefit of the current tenancies

This reflects a net initial yield of 7.4%

Terms

The premises are offered freehold subject to and with the benefit of the tenancies referenced in the below schedule.