Retail premises for sale in 118 Hall Road, Norwich, Norfolk NR1

For sale by auction on Wednesday, 12 Jun 2024 at 10:00

Venue: Livestream Auction

A highly productive mixed use investment currently producing £30,350pa

This mixed use investment property currently comprises of a cafe and four bedsit apartments producing an annual income of £30,350 pa.

The shop is let on a five year lease from Jan 24 with an income of £8,400 pa and the four bedsit apartments jointly produce an annual income of £21,950. One of the flats is fully self contained and the other three units share a recently upgraded kitchen. There is an ensuite bathroom to the top floor flat and the remaining units share a shower room, which has also recently been upgraded.

The premises are located on a busy road less than a mile from Norwich City centre surrounded by local shops residential properties, schools and other community facilities.

Ground Floor
Cafe with dining and kitchen areas, wc. Studio apartment to rear

First Floor
Kitchen, shower room, two letting rooms

Second floor
Studio apartment with ensuite shower room

Outside
Front cafe seating area, rear garden

Business Rates
1 April 2023 to present: £5,800

Council Tax Band

A

EPC Rating: D

Additional Fees
Buyers Premium: £600 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.

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

Price Information
* Guides 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 (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.