Norwich - Auctions
Transcription
Norwich - Auctions
176 LOT Norwich 1-7 St Stephens Road Norfolk NR1 3SP • Freehold Shop and Residential Ground Rent Investment • Majority let to Multiyork Furniture Ltd until 2021 • Prominent location overlooking the ring road and opposite the Intu Chapelfield Shopping Centre • Comprising 1,023.28 sq m (11,014 sq ft) retail and 24 flats, which have been sold off • Total Current Rents Reserved £167,500 pa On the Instructions of Pension Trustees SIX WEEK COMPLETION AVAILABLE Tenure Freehold. comprise 24 flats, which have been sold off on a single long lease and which benefit from undercroft parking and a communal roof terrace. Location VAT Norwich, with a population of some 171,000, is an historic city and the largest of the East Anglian commercial centres. Norwich is some 45 miles north of Ipswich and 65 miles east of Peterborough. Communications to London are via the A11 and M11 motorway and a regular rail service to Liverpool Street (approximately 1 hour and 50 minutes). The property is situated on the A147 Chapelfield Road at the roundabout junction with the A11 (St Stephens Road) to the south-west of the city centre. The A147 forms part of the city’s main inner ring road, whilst the A11 is one of the main arterial roads leading into the city. The property is opposite the Intu Chapelfield Shopping Centre, which is anchored by House of Fraser with other occupiers including H&M, Zara, River Island, Monsoon, Boots, French Connection and Apple. VAT is applicable to this lot. Documents The legal pack will be available from the website www.allsop.co.uk Energy Performance Certificate For EPC Ratings please see website. Viewings There will be a block viewing held prior to the auction. If you would like to attend you must register with us in advance. Please email [email protected] with the name and mobile number of each party wishing to attend, photographic ID will be required in advance of the inspection and on the day. In the subject box of your email please enter Lot 176 Norfolk. Description The property is predominantly arranged on ground and two upper floors to provide a large corner retail unit, plus a smaller rectangular shaped retail unit. In addition there is a former depository, arranged on ground to fifth floors which, together with the first and second floors of the main building, No. Present Lessee Accommodation Unit 1 Multiyork Furniture Ltd (1) Gross Frontage Ground Floor Unit 2 Subway Realty Ltd Gross Frontage Net Frontage Shop Depth Built Depth Ground Floor Upper Floors & Former Depository Ketts Court Management Company Ltd First and Second Floors and part ground to fifth – 24 Apartments Current Rent £ p.a. Next Review/ Reversion £150,000 p.a. Rent Review 2016 10 years from 25.03.2011 Rent review and Tenant’s option to break in the 5th year FR & I by way of Service Charge £17,500 p.a. March 2016 Break Notice Served 125 years from 29.09.2006 Peppercorn. Reversion 2131 Lease Terms 49.75 m 934.95 sq m 6.61 m 5.35 m 13.95 m 13.95 m 88.33 sq m (163' 3") 15 years from 25.03.2006 (10,064 sq ft) Rent review every 5th year FR & I by way of Service Charge (21' 8") (17' 6") (45' 9") (45' 9") (951 sq ft) (1) No. of Branches: 61. Website Address: www.multiyork.co.uk Prospective buyers are strongly advised to read the Auctioneers’ Notices Part One and Part Two and all applicable conditions of sale and addenda 246 NB. The plan is for identification only. © Crown Copyright, ES 100004106 Total £167,500 p.a. Seller’s Solicitor K Andrews Esq, Birketts LLP. Tel: 01473 299167 e-mail: [email protected] Joint Auctioneer J McCombe Esq, Cluttons LLP. Tel: 020 7647 7234 e-mail: [email protected] 247 LOT 176