About this property

Key Features

Freehold
Current rent of £80,000 per annum excluding VAT
Central city location
Attractive commercial building fully let to Moss Bros Group Plc

Description

A wonderful opportunity to purchase a prominent commercial building in the heart of the thriving city of Norwich, Norfolk. The accommodation is arranged over 3 storeys with a further basement and is fully let to Moss Bros Group Plc. The Grade II Listed building is ideally located close to a number of prime retailers such as Bills, Game, Holland & Barrett, Greggs, SpecSavers, Primark, Santander, Five Guys and the Castle Quarter retail centre. The ground floor of the property boasts a substantial sales area with large window frontage. The sales area (including stairs, fitting rooms and window beds) is 145m², with a further 21m² of off sales area. Beneath the ground floor is a cellar which offers further storage space. The first floor level is predominantly open plan and very well lit, featuring a central sales area with fitting rooms, and a further divided stock room. The sales area (including stairs and fitting rooms) is 115m², with a further 28m² of off sales area. At second floor level, there are 2/3 ancillary stockrooms, an office, a kitchen/staffroom and cloakrooms. The second floor area (including central atrium) is 143m². There is side access to a service walkway. The building may have longer term potential for alternative uses STP.


Tenure

Freehold subject to tenancy

Location

The building lies in the centre of the busy city, which boasts a wide range of shops, facilities and services along with good public transport links.

VAT

VAT is payable on the purchase price.

Lot Type

Commercial

Tenancies

The building is let to Moss Bros Group Plc at a current rent of £80,000 per annum. The current 10 yr lease runs until the 27th August 2023, with no breaks. See legal pack.

Legal Packs

www.cheffins.co.uk/auctions/property-auctions or Nicola Kilby at Knights, 34 Pocklingtons Walk, Leicester, LE1 6BU

Viewing

Cheffins Property Auction Dept 01223 213777


Important notes

*Guide prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set up to or within the Guide Range or no more than 10% above a single figure Guide. The reserve price will remain confidential between the seller and the auctioneer.

Fees: The guide price excludes any additional fees that the purchaser may incur, to include, but not limited to, Buyers Contract fee, Stamp Duty Land Tax, VAT, legal and search fees etc. Please refer to relevant Auction Legal Packs for details.�