Mixed use premises comprising two shops (currently one), two flats tenanted on AST's and a garage/workshop site producing £42,540 pa

Offering this mixed use site situated on the north side of the city of Norwich. Located in a prominent position on the ring road this site offers great potential and an opportunity for development (stpp). Pegasus Models currently occupy both shops and have been running a successful business for many years. There is a large car park serving the shop which leads to a garage/workshop currently let to a mechanic servicing and maintaining vehicles. Above the shop there are two, one bedroom flats currently let on ASTs. The total income of the whole site is £42,540 pa. Viewings can be arranged by prior appointment. Shop producing £1,450 pcm Flat 1 £700 pcm Flat 2 £800 pcm Garage £595 pcm

Tenure

Freehold

Shop

Two retail areas, cellar divided into two, kitchen, office, storage unit to rear. Currently producing £17,400 pa, £1,450 pcm

Flat 1

Currently let producing £8,400 pa, £700 pcm

Flat 2

Currently let producing £9,600pa, £800 pcm

Garage/Workshop

Situated to the rear of the building there is a large workshop with parking area. Currently let producing £7,140pa, £595 pcm

Outside

There is a driveway leading to a large car park which offers great potential for redevelopment, subject to planning.

Business Rates

The current rateable value according to the government website is £18,750

Council Tax Band

Flats - A

Energy Efficiency Rating (EPC)

Current Rating Ordered - Please refer to Legal Pack

Services

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

Local Authority

Norwich City Council

Solicitors

Spire Solicitors LLP (Norwich), Ref: Tracy Guest, Tel: 01603 886221

Additional Fees

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

Administration Charge - £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.