Great investment opportunity to acquire one of three commercial units available within busy location in the desirable village of Hethersett. Prospect House offers two retail units with two offices above and allocated car parking spaces. Three units are let on long term leases with one office on the first floor currently vacant.

Prospect House is situated on Oak Square in the heart of the desirable village of Hethersett on the outskirts of Norwich City. Formerly the village Post Office was housed in the rear retail unit, now the barbers and foot fall in this bustling village is good. The building has been in the same ownership for 25 years and this is a rare opportunity for such a strong ready made investment to come to market. Prospect House The building offers two retail units on the ground floor, one leased to a well-established estate agency, the other to Hethersett Barbers, which is just about to commence business. Above are two offices, one is vacant the other is leased to a firm of solicitors. The building has recently installed fully certificated fire system and electrical certificates and is in good well-maintained order throughout.

Tenure

Freehold

Income

The current annual income is £51,000 pa and leasing the office currently vacant would increase the yield further to £63,000 pa.

Current Leases

Hammond Stratford - Commenced 11th July 2022 expires 10th July 2032, get out 2025 rent review every 3 years. £1,540 pcm Hethersett Barbers - 10 year lease - 3 year review and 5 year get out clause £1,650 pcm Soliictors - Lease expires 30th April 2027, £1,060 pcm

Ground Floor

Hammond Stratford - Main office, managers office, kitchen and cloakroom. Entrance hall to offices Hethersett Barbers - Salon, shower room, staff room, treatment room

Second Floor

Landing Solicitors - two large interconnecting offices, shared kitchen and cloakroom with vacant office Vacant - two interconnecting offices, separate office, kitchen and cloakroom

Exterior

Tarmac marked parking bays are provided outside the building

Note

This is one of 3 commercial buildings on Oak Square, Hethersett being offered for sale and the entire site can be purchased as a whole if parties are interested.  Please discuss this with us prior to auction.

Viewings

Viewings are being held by arrangement and the next opportunities to view will be on: Thursday 5th September Monday 9th September Please contact the Norwich Office to book your appointment time.

Energy Efficiency Rating (EPC)

Current Rating C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

South Norfolk Council

Solicitors

Ward Gethin Archer (Dereham), Ref: Tracy Guest, Tel: 01362 852918

Additional Fees

Buyer's Premium - £960 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.