Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles west of Great Yarmouth, 42 miles north of Ipswich
Roads
A11, A140, A147
Rail
Norwich Railway Station
Air
Norwich International
Situation
The property is situated in a highly prominent location on the western side of Magdalen Street, at its junction with Edward Street and close to St. Crispins Road (A147), about 2 miles north of Norwich City Centre. The property fronts Anglia Square Shopping Centre which houses retailers including Boots the Chemist, Poundstretcher, 99p Stores, Greggs and Savers. Adjacent to the property is a large multi-storey car park.
Tenure
Freehold.
Location
Miles
12 miles west of Great Yarmouth, 42 miles north of Ipswich
Roads
A11, A140, A147
Rail
Norwich Railway Station
Air
Norwich International
Situation
The property is situated in a highly prominent location on the western side of Magdalen Street, at its junction with Edward Street and close to St. Crispins Road (A147), about 2 miles north of Norwich City Centre. The property fronts Anglia Square Shopping Centre which houses retailers including Boots the Chemist, Poundstretcher, 99p Stores, Greggs and Savers. Adjacent to the property is a large multi-storey car park.
Tenure
Freehold.
Description
The property comprises a ground floor former bank with ancillary accommodation in the basement and office/ancillary accommodation on the first floor
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor former bank with ancillary accommodation in the basement and office/ancillary accommodation on the first floor
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Basement First
Retail Ancillary Offices/Ancillary
362.96 sq m 165.08 sq m 234.11 sq m
(3,907 sq ft) (1,777 sq ft) (2,520 sq ft)
BARCLAYS BANK PLC (1)
20 years from 15/01/2008 until 14/01/2028 (2) on a full repairing and insuring lease (3)
£44,00029/09/2018 and 29/09/2023
29/09/2018 and 29/09/2023
Total Commercial Area
762,15 sq m
(8,204 sq ft)
£44,000
(1) For the year ending 31st December 2014, Barclays Bank Plc reported pre-tax profits of £2,309,000,000 and a total net worth of £55,576,000,000 (Source: Experian Group 09/11/2015). The property is entirely sub-let to a tenant that will trade as Desh Cash and Carry. Desh Cash and Carry are due to be trading in time for Christmas. (2)The lease provides for a tenant option to determine on 15/01/2023. (3)The lease is subject to a Schedule of Condition
