Within close proximity to Anglia Square Retail Park which houses occupiers including Boots Chemist, Iceland, Savers, Poundland and Shoe Zone
Lot 79
Auction 13th July 2017
Rent £6,900 per Annum Exclusive
Status Sold
Price £50,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
0.8 miles from Norwich City Centre, 12 miles west of Great Yarmouth, 42 miles north of Ipswich
Roads
A11, A140, A147
Rail
Norwich Railway Station
Air
Norwich International Airport
Situation
Norwich is a popular Cathedral and University City in East Anglia. The property is situated on the western side of Magdalen Street, close to its junction with Edward Street. The Anglia Square Retail Park is approximately 100 metres from the property housing occupiers including Boots the Chemist, Iceland, Savers, Poundland and Shoe Zone. The retail park also provides multi-storey car parking for approximately 240 cars.
Tenure
Freehold.
Location
Miles
0.8 miles from Norwich City Centre, 12 miles west of Great Yarmouth, 42 miles north of Ipswich
Roads
A11, A140, A147
Rail
Norwich Railway Station
Air
Norwich International Airport
Situation
Norwich is a popular Cathedral and University City in East Anglia. The property is situated on the western side of Magdalen Street, close to its junction with Edward Street. The Anglia Square Retail Park is approximately 100 metres from the property housing occupiers including Boots the Chemist, Iceland, Savers, Poundland and Shoe Zone. The retail park also provides multi-storey car parking for approximately 240 cars.
Tenure
Freehold.
Description
The property comprises two retail units on the ground floor (part let on a long lease) and three self-contained residential flats on first and second floors, all let on long leases.
VAT
VAT is not applicable to this lot.
Completion Period
Eight Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two retail units on the ground floor (part let on a long lease) and three self-contained residential flats on first and second floors, all let on long leases.
VAT
VAT is not applicable to this lot.
Completion Period
Eight Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
124 Magdalen Street
Ground
Retail
32.14 sq m
(346 sq ft)
TESLA RAIL FLUX LIMITED t/a Royal Barbers Code
6 years from 30/01/2017
£6,750
30/01/2020 (29/01/2023)
120 Magdalen Street
Ground
Retail
Not Measured
INDIVIDUAL t/a Zippers
125 years from 13/08/2014
-
(12/08/2139)
120 Magdalen Street
First and Second
Residential
3 x Flats
INDIVIDUAL
3 x 999 year leases from 01/06/1989 (1)
£150
(31/05/2988)
32.14 sq m
(346 sq ft)
£6,900
(1) The seller has served a notice on the residential tenants, pursuant to section 5B of the Landlord & Tenant Act 1987. Each lease has a rent of £50 per annum.
