Mixed use investment comprising shop, warehouse and two bedroom flat producing £20,300 pa

This diverse property comprises a largely open plan ground floor retail unit with storage, fronting Bridge Street, with secondary access to the rear of the shop.There is also a two-storey flat roofed brick warehouse offering redevelopment potential, accessed either via double wooden doors in the courtyard or internally through the shop. The ground floor retail and warehouse (1,311 sq/ft) is let on a 15 year lease from 25 March 2011 at a current rent of £14,000 pa. The first floor flat (35B) is accessed via the rear courtyard and is let to a long established tenant who has been in occupation for around ten years on a holding over assured shorthold tenancy at £525 pcm (£6,300 pa). There is a large rear courtyard providing ample off road parking.

Tenure

Freehold

Retail

Retail (NIA) 55.27 595

Warehouse (66.49 sq/m / 716 sq/ft)

Ground Floor 32.62 sq/m / 351 sq/ft First Floor 33.87 sq/m / 365 sq/ft

First floor flat (70.45 m² / 758 sqft) 35B

Kitchen, bathroom, living Room, two bedrooms

Ratable Value

According to the Valuation Office website, the shop and premises has an area of 120 sq/m and a rateable value of £8,000 with effect from the 1st April 2023.

Energy Efficiency Rating (EPC)

Current Rating E

Services

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

Local Authority

North Norfolk District Council

Solicitors

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

Additional Fees

Buyer's Premium - £900 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.